AEON Bank (M) Berhad has officially launched, marking its entry as Malaysia’s first Islamic digital bank.
The launch, which took place on 26 May (Sunday), follows the bank’s approval by Bank Negara Malaysia to launch under the new digital banking framework. AEON Bank is a joint venture led by AEON Financial Service and AEON Credit Service.
The newly launched AEON Bank offers a range of personal banking digital services, including a Savings Account-i, customisable Savings Pots, and budgeting tools.
Customers can immediately access a virtual AEON Bank x Visa Debit Card-i upon account activation, with an option to request a physical card.
The digital bank aims to attract 250,000 users, representing 10% of AEON group’s 2.5 million retail customer base, by the end of the year.
Plans to introduce personal loans and financing are in the pipeline, with business segment services slated for 2025.
Additionally, an insurance rollout is expected in the fourth quarter of this year. Customers can also secure personalised account numbers on a first-come, first-served basis.
To celebrate the public launch, AEON Bank is offering a sign-up bonus of 3,000 AEON Points and triple AEON Points on transactions made with the AEON Bank x Visa Debit Card-i, alongside a profit rate of 3.88% per annum.
Customers enrolled in the AEON Points Programme will have their memberships automatically linked to the AEON Bank app, facilitating rewards and benefits at AEON Group outlets.
The launch event at AEON Hall, AEON Mall Shah Alam, featured prominent guests including Datuk Johan Mahmood Merican, Secretary General of Treasury, Ministry of Finance; YM Raja Teh Maimunah, CEO of AEON Bank; and other key figures from AEON and financial institutions.
A public campaign at AEON Mall Shah Alam from 23 May to 2 June 2024 aims to engage over 10,000 AEON Members and consumers with performances, activities, giveaways, and F&B promotions.
Nationwide roadshows will follow from June to November 2024 in various states, including Kelantan, Kuala Lumpur, Johor, Penang, Negeri Sembilan, Perak, Melaka, and Sarawak.
“We are deeply humbled and honoured by the trust placed in us to lay the foundations and build Malaysia’s first fully Islamic Digital Bank. This is a significant milestone for AEON Group in Malaysia after 40 years of presence in the country. Our mission is to offer safe, simplified and inclusive Shariah compliant digital banking solutions to all Malaysians.
We thank Malaysians for the overwhelming response thus far. We are in the early phase of our product rollout and will continue to introduce more products and features for our personal banking customers. Over time, we will expand our products and services to small businesses,”
said Raja Teh Maimunah, Chief Executive Officer of AEON Bank.
