Malaysia’s Islamic banks need not fear digital challengers — as long as they embrace financial inclusion
The pandemic has forced Islamic banks to change how they look at Malaysia’s growing unbankable population.
KUALA LUMPUR: The head of one of Malaysia’s main Islamic banks insists he has no fear of a new wave of digital banks that will open in the country next year.
Arsalaan Ahmed, chief executive of Al-Rajhi bank, is himself gearing up to unveil the institution’s new suite of digital services at a time when Malaysia’s central bank will issue five licences for challenger banks.
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