KAF Digital Bank gets BNM nod to open to public, rolls out prize campaigns
The trial phase saw the bank test its systems, security, and user experience with a select group of participants, whose feedback helped refine its Shariah-compliant digital banking services.
'We are thrilled to receive the green light from the regulators to open our doors to the public,' said CEO Rafiza Ghazali, adding that the milestone reflected the team's dedication to delivering 'a truly innovative and seamless digital banking experience.'
KAF Digital Bank will offer services including Shariah-compliant savings accounts, virtual debit cards, and payment solutions via a user-friendly mobile app.
It also aims to promote financial inclusion and literacy through campaigns such as 'Daftar & Menang,' 'Imbas & Kumpul,' and 'CelikWang,' run in partnership with POD. Prizes up for grabs include new vehicles, travel packages, and gift vouchers.
The bank is backed by KAF Investment Bank and a consortium of local industry leaders, including Carsome, MoneyMatch, Jirnexu, and StoreHub.
Malaysians can download the KAF Digital Bank app from the Apple App Store and Google Play Store starting Aug 8 to open an account.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysian Reserve
6 hours ago
- Malaysian Reserve
Tropicana Twister's 'Gandakan Kebaikan' Campaign Transforms Kindness into RM200,000 Aid, Earning National Recognition
Over 13,000 meaningful actions captured through digital journaling and care pack contributions, aiding 5,000 families across Malaysia. KUALA LUMPUR, Malaysia, Aug. 14, 2025 /PRNewswire/ — Tropicana Twister's 'Gandakan Kebaikan' campaign, an uplifting digital initiative that encouraged Malaysians to journal acts of kindness for a good cause, concluded with a heartfelt handover ceremony celebrating two major milestones: the distribution of RM200,000 in care packages to 5,000 underprivileged families nationwide, and the brand's official induction into the Malaysia Book of Records for the 'Most Digital Journals Collected in an Online Campaign'. Launched during a season synonymous with reflection and generosity, the campaign resonated deeply with the spirit of Ramadan and Raya – where even the smallest gesture, like sharing a meal or a drink can spark meaningful change. The ceremony served as both a celebration and a tribute to the empathy and unity shown by Malaysians, with each journaled deed matched by Tropicana Twister through tangible support. Aditya Sheoran, PepsiCo Franchise Senior Director, shared, 'We wanted to encourage Malaysians to take a moment to reflect and share kindness in a simple, intentional way. Not everyone has the means or time to carry out acts of goodwill themselves, and that's where we stepped in. Every journaled act was our cue to act on behalf of the nation, delivering help to those who need.' 'That's how 'Gandakan Kebaikan' came to life, a movement built on the belief that when goodness is shared, it multiplies. As a brand rooted in nourishing moments, we knew we had the potential to do more than just refresh, and we are proud to have sparked a movement that continues to touch lives and strengthen our sense of community,' added Aditya. In partnership with The Lost Food Project and Kechara Soup Kitchen, the campaign ensured that care packs reached communities that often go overlooked. A total of around 50,000 meals made their way to 5,000 underserved families nationwide – bringing not just food to the table but also some relief for parents striving to provide for their families. Amid the pressures of daily life, this initiative served as a gesture of care to the recipients, providing support that helped ease the burden. Reflecting on the campaign's deeper resonance, Jennifer Lee, PepsiCo Head of Marketing, added, 'The response received was heartfelt, powerful, and genuine. Each journaled deed, no matter how small, helped build something meaningful. We witnessed the impact firsthand, as joy and gratitude lit up the faces of those we reached. This demonstrates that unity and compassion still thrive in our communities.' Building on this groundswell of goodwill, the Malaysia Book of Records recognition not only highlighted the campaign's innovative digital approach but also emphasised the strength of collective participation during the festive season. This milestone is part of our efforts in uplifting underserved communities, in line with PepsiCo's mission to drive purposeful impact through culturally relevant engagement. 'Being recognised by the Malaysia Book of Records is truly an honour, but beyond the accolade, we are heartened to serve thousands of underserved families and brighten their day. It is a tribute to the generosity of everyday Malaysians who chose to make a difference. This campaign wouldn't have been possible without our partners, NGOs, and retailers. Together, we've proven that simple stories of kindness can scale into real-world impact,' added Jennifer. Sharing this sentiment, Gayathri Liew, PR & Communications Manager of The Lost Food Project said, 'For many of our beneficiaries that are facing food insecurity, receiving this food support meant having breathing room in already-stretched budgets. With Tropicana Twister's contribution, we were able to ease the financial stress and improve the nutritional intake of thousands of individuals. More than just a donation, this partnership is a reminder that collective kindness and shared sustainability values can uplift communities facing hardship.' By reimagining everyday kindness as part of a greater purpose, the campaign exemplifies how brands can lead with purpose and drive real change. For more information, please follow Tropicana Twister's Facebook (@
Barnama
6 hours ago
- Barnama
Study: 89 Pct Of Malaysians Used AI Daily -- Telenor Asia
REGION - CENTRAL > NEWS SHAH ALAM, Aug 14 (Bernama) -- Eighty-nine per cent of Malaysian internet users are using artificial intelligence (AI) daily compared with 75 per cent recorded in 2024, a study by Telenor Asia revealed. According to Telenor Asia's "Digital Lives Decoded 2025: Building Trust in Malaysia's AI future" report released today, the number of AI users opting for financial as well as health and fitness tools has also more than doubled this year. The report highlighted that Malaysian internet users are embracing AI as a powerful tool for productivity, learning, and daily convenience. bootstrap slideshow Today, a quarter of Malaysian internet users intentionally use AI tools multiple times a day, indicating a significant behavioural shift, according to the report. The study, which surveyed 1,000 internet users, also revealed that Malaysians are digitally discerning, are optimistic about AI's potential, but deeply aware of its risks, ethics, fairness, and control. Telenor Group senior vice-president and head of AI, Dr Ieva Martinkenaite, said they expect transparent, inclusive and human-centric AI systems as a baseline, not a luxury. "For companies, these findings highlight that responsible AI is no longer an optional brand value but a core competitive differentiator. "Businesses must prioritise responsible data practices, invest in employee upskilling, and foster environments where ethical safeguards are integral to AI-powered innovation," she said in a panel discussion on the launch of the report today. The report also revealed that 51 per cent of Malaysian internet users now use AI at work, up from 37 per cent in 2024, with top AI applications in the workplace to include analytics (59 per cent), content development (52 per cent), and customer service (45 per cent).
The Star
6 hours ago
- The Star
Asean's Islamic finance to surpass US$1 trillion by end-2026
KUALA LUMPUR: The size of the Islamic finance industry in ASEAN is expected to cross US$1 trillion by end-2026, after reaching nearly US$950 billion at the end of the first half of this year (1H2025). Credit ratings agency, Fitch Ratings (Fitch) said the industry's growth will continue to be led by Malaysia, Indonesia and Brunei due to their large Muslim populations, supportive regulations, access to sukuk, and potentially improving ties with Gulf Cooperation Council countries. "Malaysia is ASEAN's largest Islamic banking market, with about US$300 billion in assets, and Islamic financing representing 42 per cent of total system financing at end-1H2025,' the agency said in a statement. It added that Malaysia led ASEAN's Islamic funds segment, with assets under management (AUM) exceeding US$50 billion in the first four months of 2025 (4M2025), reflecting an established Islamic finance ecosystem, mature regulatory environment, strong demand and diverse Shariah-compliant products. As for Indonesia, its Islamic banking assets stood at US$56 billion in 4M2025, accounting for seven per cent of the banking sector's total. Brunei's Islamic banks held nearly US$10 billion in assets or 63 per cent of total banking assets at end-2024, while the Philippines' only Islamic bank's assets stood at about US$20 million. Indonesia's and Brunei's Islamic fund markets are smaller, with AUM of US$3 billion and US$500 million, respectively. Fitch Ratings also highlighted that Islamic finance demand in ASEAN is fragmented, with limited presence in Singapore, the Philippines and Thailand, and remains undeveloped in Vietnam, Laos, Cambodia and Myanmar due to their small Muslim populations and lack of regulatory frameworks. "More interconnected ASEAN financial systems could support penetration,' it said. The agency said that sukuk outstanding in ASEAN reached US$475 billion or 16 per cent of the debt capital market (DCM) at end-1H2025, with Malaysia and Indonesia contributing almost all issuance, accounting for 47 per cent of the global sukuk market. Sukuk outstanding accounts for 59 per cent of Malaysia's DCM, and 18 per cent of Indonesia's DCM, while environmental, social and governance (ESG) sukuk are also concentrated in these two countries. It added that the Singapore Exchange is the sixth-largest dollar sukuk listing venue globally, and highlighted that the Philippines' sukuk outstanding remained flat since its 2023 sovereign debut, while Brunei's are mainly short-term and sovereign. No sukuk has been issued in other ASEAN countries. On takaful, Fitch Ratings said Malaysia, Indonesia and Brunei have the most established takaful markets in ASEAN. General takaful represented 21 per cent of Malaysia's general insurance market in the first quarter of 2025, while family takaful held a 39 per cent share at end-2024. "Indonesia's takaful sector contributed 8.4 per cent of total insurance premiums in 4M2025, while Brunei's share was 47.8 per cent at end-2024. "Meanwhile, the Philippines' Insurance Commission issued guidelines for takaful window operations in 2024 and on inclusive micro products, including micro takaful in 2025, and granted the first takaful operator licences to two insurers in 2024,' it added. -- BERNAMA TAGS: Fitch Ratings, takaful, ASEAN, Islamic finance
