In a statement to the Bursa Malaysia, MPay said its unit, ManagePay Services’ application is supported by three local strategic partners, an entity managed by Bumiputera.
If the application is successful, iFAST will own a 40% stake in digital banking sector. About 57% of the consortium’s beneficial shareholding is Malaysian. iFAST Bank could make a difference in underserved market segments, such as Malaysia’s bottom 40% (B40) population.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now