AEON Bank, Malaysia’s first Islamic digital bank, has launched AEON Bank Biz, a Shariah-compliant business banking service anchored by its Business Current Account-i and cash management tools.

The service is initially onboarding vendors, suppliers, partners, and selected stakeholders within the AEON ecosystem.

The bank said this approach is meant to create an integrated value chain across retail and financial services before expanding to more businesses in Malaysia.

The Business Current Account-i offers a profit rate of 1.5 percent per annum with no minimum balance.

Merchants under AEON Credit Service Malaysia receive an additional one percent, subject to terms and conditions.

Cash management features include RENTAS and DuitNow transfers, bulk and single payment options with approval controls, and user access rights for team members.

The platform also supports operations tracking and live chat assistance.

Businesses can register interest on the AEON Bank Biz website, while the app is available on the App Store and Google Play, with a QR code option provided.

“For the Business Banking segment, we are expanding our Shariah compliant and inclusive banking proposition to empower businesses in Malaysia with simplified accessibility, security and innovation that currently defines our Personal Banking services. Our hybrid business banking solution is anchored on our determination to streamline traditionally complex processes such as account onboarding and credit check.

By leveraging AI-powered tools, we are also providing business owners with faster approvals and seamless user experience, while our cash management capabilities offer the efficiency that they need to scale up and succeed.”

said YM Raja Datin Paduka Teh Maimunah Raja Abdul Aziz, CEO of AEON Bank.