Maybank Islamic Bhd has partnered with Telekom Malaysia Bhd (TM) to deliver the country’s first Islamic Banking as a Service (BaaS) solution powered by 5G.
The collaboration combines the best of Maybank Islamic’s diverse financial services and TM’s recognised Uni5G Postpaid Biz mobile packages, according to a joint statement by Maybank Islamic and TM today.
It is designed for consumers and micro, small, and medium enterprises (MSMEs), creating seamless access and experiences for today’s digital customers.
In line with that, Maybank Islamic and TM’s digital business solutions arm, Unifi Business, also launched their inaugural ‘Go Niaga’, a mobile business banking bundle to help businesses manage finances, improve incomes and offer digital payment options powered by secure 5G connectivity and networks.
The bundle is expected to address current market gaps among this segment and enable businesses to better participate in e-commerce and expand their customer reach.
Maybank Islamic chief executive officer Datuk Mohamed Rafique Merican said this partnership opens up unique opportunities for us in delivering Islamic banking services to customers.
“This partnership is a significant step forward in financial inclusion. “By embedding Maybank Islamic’s BaaS solutions within Unifi Business’ platforms, previously unbanked or underbanked individuals and businesses will gain access to Maybank’s essential financial services and 5G mobile connectivity through TM’s cutting-edge technologies,” he added.
Mohamed Rafique noted that while the technology originates from the BaaS concept, what makes it unique is its adherence to Islamic principles, making it the pioneering example of its kind in Malaysia.
He said it combines modern technology with the ethical requirements of Islamic finance, providing innovative and faith-based financial services.
Meanwhile, Unifi chief commercial officer for consumer strategy and business Shanti Jusnita Johari said as a trusted partner to more than 400,000 MSMEs across the nation, the company believes this partnership is a timely intervention to effectively address these challenges and help local businesses seize the opportunities of the digital economy.
“This partnership is the next milestone in our vision to become a digital powerhouse by 2030 and our mission to power a Digital Malaysia, improving businesses and communities through technology, and paving the way for a digitally inclusive nation,” she added.
This initial offering will be made available from Feb 21 until May 29, 2024.
Customers can visit selected Unifi stores on Tuesdays, selected Maybank branches on Wednesdays and selected Pusat Ekonomi Digital (PEDi) nationwide on event days, to find out how they can benefit from these offerings.—NST online
