CEO warning..... No monetary gains for few years2 Jan 2026 16:06
Whilst the Company is pleased with this approval, the Directors do not anticipate the Group to record any revenue or earnings from the Islamic digital banking business in the financial year ending 31 December 2026 as the Group has to begin the preparatory work for MBO Bank to meet the conditions of approval from Labuan FSA, including MBO Bank having sufficient capital reserves, strong corporate governance and other strict operational and prudential requirements in place as stipulated by the Labuan FSA. Following receipt of the conditional approval, the Group plans to explore further with potential strategic partners and investors for MBO Bank to meet the capital requirements and to fulfil all regulatory and operational conditions