The last two digital banks in Malaysia developed by consortia led by Sea Ltd with YTL Digital Capital, and KAF Investment Bank with partners like Carsome and MoneyMatch, are delayed in launching due to technical issues and incomplete digital platforms, as per Bank Negara’s requirements. Initially expected to launch by early 2024, these issues mirror those faced by previously launched digital banks, but with varying speeds in resolution. Bank Negara expects to approve these banks by year-end, although further delays are possible if more time for preparations is needed. Meanwhile, the central bank continues its digital finance expansion, inviting applications for digital insurer and takaful operator licences, emphasising a broader licensing approach compared to the digital banking sector.