GHL announced today that they have obtained their operating licences from the respective regulators in Malaysia and Thailand to commence money lending services.
The licences were issued by the Ministry of Housing and Local Government (Money Lending Licence under the Moneylenders Act 1951) and Bank of Thailand (Nano Finance Licence) for GHL’s operating units in Malaysia and Thailand respectively. These licences permits money lending services to both individuals as well as businesses.
This news follows the announcement of GHL’s partnership with Splitit Payments to offer installment payments solution to GHL’s online merchants.
The CEO of GHL Group, Mr. Danny Leong said,
“This development is timely as GHL seeks to roll out complementary services in addition to payment solutions to our merchant base. The granting of these licences by two regulators is also recognition of GHL’s proven track record in the payments space. The expanded service offering will further strengthen our position as the leading e-payment solutions provider in the region and preferred choice by merchants. We are hopeful in securing another similar licence in the Philippines which is currently in progress.”
Featured image credit: Pexels