KUALA LUMPUR, April 3 -- MobilityOne Sdn Bhd (MBO) has secured a full-fledged Shariah-compliant Islamic digital banking licence from the Labuan Financial Services Authority (LFSA), marking its move from fintech services into regulated digital banking.

The group said operations under MBO Bank (Labuan) Limited are expected to begin in the third quarter of this year after finalising regulatory requirements.

Group chief executive officer Datuk Hussian A. Rahman described the development as a major milestone for the company as it expands from providing fintech infrastructure into full-scale Islamic digital banking.

"This is a defining moment for MobilityOne. We are evolving from a fintech enabler into a fully licensed digital Islamic bank. ...