SINGAPORE - When iFast Corporation chairman and chief executive Lim Chung Chun first decided to bid for a digital bank licence in Malaysia last year, he had yet to assemble the team he needed to back his application.
Bank Negara Malaysia said last December that it would "give preference to applicants whose controlling equity interest in the digital bank resides with Malaysians" when it came to awarding up to five licences.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you