AEON Bank launches as first Islamic digital bank in Malaysia

  • introducing private banking services before advancing to small companies
  • Items can be converted to cash and credited to company’s AEON Bank profile

(L2R): Mahmood Merican, Secretary General of Treasury, Ministry of Finance; Raja Teh Maimunah, CEO of AEON Bank; Daisuke Maeda, Non-Independent Executive Director of AEON Bank & Chairman of AEON Credit Service (M) Bhd; Naoya Okada, Managing Director of AEON Co (M) Bhd.

AEON Bank ( M ) Bhd announced its public launch on 26 May, making its mark as Malaysia’s first Islamic digital bank. It joins GX Bank and Boost- RHB Digital Bank, and two more online businesses are yet to start. The consortiums of KAF Investment Bank and SEA Ltd.- YTL Digital Capital have not yet offered their service.
AEON Bank is starting off with personal banking services such as Savings Account-i, Savings Pots with customisable optimisation features, budgeting tools, with more to come in the future. Users that activate their account will be able to immediately access their virtual AEON Bank x Visa Debit Card-i and request for their own physical Debit Card-i.

The trust that was placed in us to lay the foundations and establish Malaysia’s first entirely Muslim electronic bank is deeply humbled and honoured. After 40 years of operation in Malaysia, this is a major milestone for AEON Group in that state. Our goal is to provide all Malaysians with secure, streamlined, and equitable online banking options that are compliant with Shariah. We are still in the early stages of the product rollout process and will continue to add new features and products to our private bank customers. Over moment, we did increase our products and services to little firms”, said Raja Teh Maimunah, CEO of AEON Bank.

Customers who activate their accounts will also be eligible for a sign-up bonus of 3, 000 AEON Points and 3X AEON Points in addition to the company’s annual profit rate of 3.88 %. This promotion is exclusive to the public launch campaign.

Moreover, customers that are part of the AEON Points Programme may automatically include their membership linked with the AEON Bank app, which may help them to enjoy more benefits and rewards when they make payments at AEON Group’s outlets and merchants, including AEON Mall, AEON Supermarket, AEON Wellness, La Boheme Bakery, AEON Fantasy, and more, adding another layer of value and convenience for customers via the larger and complete AEON ecosystem. The customer’s AEON Bank account will then receive the earned AEON points in the form of cash.

During the launch, AEON Bank is anticipated to engage more than 10,000 AEON members and customers through on-ground activation, starting on June 2nd. Nationwide roadshows will run in Kelantan, Kuala Lumpur, Johor, Penang, Negeri Sembilan, Perak, Melaka, and Sarawak from June till November 2024.

The public launch took place at AEON Mall Shah Alam, with Johan Mahmood Merican, Secretary General of Treasury, Ministry of Finance as guest of honor. AEON leaders in attendance included Naoya Okada, MD of AEON Co. ( M ) Bhd, Shunsuke Shirakawa, Chairman of AEON Financial Service Co, Ltd, Japan, Mitsugu Tamai, Director and Managing Executive Officer of AEON Financial Service Co, Ltd, Japan, Daisuke Maeda, MD, AEON Credit Service ( M ) Bhd, and Tomokatsu Yoshitoshi, Chairman and Independent Non- Executive Director of AEON Bank ( M ) Bhd.