According to TheEdge, the KAF digital bank is looking for a new owner, and it could be sold for around RM80 million. That said, what should you know about it?
No known reasons for the sale of this digital bank
For your information, KAF Digital Bank is one of the Sharia-compliant digital banks led by a consortium consisting of KAF Investment Bank, Carsome, Jirnexu, StoreHub and MoneyMatch. KAF Investment Bank is said to have an 84% stake, while the others have a 4% stake.
Moreover, the reason behind this sale was not disclosed. Since its launch, KAF Digital Bank has not been widely marketed, and the application does not feature a modern design compared to other digital banking service providers.
At this time, it is not known whether Bank Negara will allow KAF Digital Bank to be sold to a new owner or vice versa. So, we should wait for more news and announcements from KAF.
Stay tuned to TechNave.com for more updates like this.
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