Kenanga Investment Bank revealed on Monday that it had received a Digital Investment Manager license from Securities Commission Malaysia. The newly granted license allows for Kenanga to operate a robo advisor.

Currently, there are 7 other companies in Malaysia with a Digital Investment Manager license namely; Akru, BH Global Fintech, GAX MD, Raiz Malaysia, StashAway, UOB Asset Management, and Wahed Invest.

Kenanga previously received an approval in principle from the regulator in 2020, they previously revealed to Fintech News Malaysia that their robo advisory platform will be named Kenanga Digital Investing and is slated for 2021 launch.