KAF Digital Bank secures BNM approval for public launch

By Vriti Gothi

KAF Digital Bank has received regulatory approval from Bank Negara Malaysia (BNM) to commence public onboarding, to redefine Malaysia’s digital banking landscape. This approval follows the successful completion of its rigorous PERINTIS Phase, with full banking services to be available to the public from 8 August 2025.

The milestone positions KAF Digital Bank to deliver its fully Shariah-compliant suite of digital banking solutions to a broader segment of Malaysians, underpinned by advanced technology, robust security frameworks, and a customer-first design philosophy.

The PERINTIS Phase, an intensive pilot programme, enabled KAF Digital Bank to conduct end-to-end testing of its systems, cyber resilience protocols, and user experience in collaboration with a select group of early adopters. Insights gathered during this stage were instrumental in fine-tuning the platform for scalability, ensuring seamless onboarding, and guaranteeing a secure and intuitive customer journey.

Rafiza Ghazali, Chief Executive Officer of KAF Digital Bank, said, “We are thrilled to receive the green light from the regulators to open our doors to the public. The successful completion of our PERINTIS Phase is a testament to the hard work and dedication of our team, and it underscores our commitment to delivering a truly innovative and seamless digital banking experience. We thank the PERINTIS users for their invaluable feedback.”

With a vision to advance financial inclusion and accelerate Malaysia’s digital transformation, KAF Digital Bank will offer a range of Shariah-compliant products and services, including savings accounts, virtual debit cards, and integrated payment solutions. The bank’s intuitive mobile-first platform is designed to meet the evolving needs of modern consumers, empowering them to manage their finances with ease and confidence.

To commemorate its market launch, the bank is rolling out a series of strategic customer engagement campaigns: “Daftar & Menang”, “Imbas & Kumpul”, and “CelikWang”, in collaboration with POD. These initiatives are aimed at boosting financial literacy while rewarding user participation in educational activities and transactions through a linked loyalty programme. Prizes on offer include new vehicles, exclusive travel packages, and gift vouchers, reinforcing the bank’s commitment to enriching customer experiences.

Backed by KAF Investment Bank and a consortium of prominent Malaysian industry leaders, Carsome, MoneyMatch, Jirnexu, and StoreHub—KAF Digital Bank stands poised to set new benchmarks in digital trust, Islamic Fintech innovation, and customer empowerment.

From 8 August 2025, Malaysians can download the KAF Digital Bank app via the Apple App Store or Google Play Store to open an account and access the bank’s digital-first, Shariah-compliant services.