Libyan and Malaysian Banks Go Digital, One with Starlink’s Help
Hey Digital Banking Fanatic!
From Libya to Malaysia, legacy banks are embracing digital transformation.
In Tripoli, Libyan Islamic Bank launched a digital-first platform with Backbase, becoming one of the first to link with Libya’s instant payment network.
Further east in Malaysia, Agrobank began opening accounts in remote areas through mobile devices linked by satellite, with... Starlink, I guess you're not expecting that! 👀
Keep reading to explore these updates and what’s happening across digital banking 👇
See you tomorrow!
Cheers,
Follow me on Threads for daily scoops!
NEWS
🇱🇾 Libyan Islamic Bank modernizes consumer banking services with Backbase. In collaboration with Backbase, the bank laid the groundwork for a customer-first operating model that is built for speed, flexibility, and long-term relevance in a rapidly evolving market.
🇲🇾 Agrobank launches online account opening in Sabah. Agrobank CEO Dato Tengku Ahmad Badli Shah Raja Hussin said the digital system offers a faster, simpler, and more user-friendly experience. Customers can now open a deposit account anytime, anywhere, with just RM20, leveraging improved internet connectivity.
🇧🇩 Cenbank to start digital bank licensing process in August. The Bangladesh Bank is set to open the application process for digital bank licences, according to the Governor. In an exclusive interview, he confirmed that entities that previously applied for a digital banking licence would be eligible to reapply.
🇬🇧 Santander UK cuts over 2,000 Jobs amid restructuring. The job reductions come as the bank’s UK unit reported a 5% decrease in pre-tax profits, which fell to £764m for the six months ending June 2025. Keep reading
🇵🇭 Revolut bets on Manila to anchor next phase of SE Asia growth. The hub will support global functions like engineering, risk, compliance, and customer operations. Backed by the Philippine government, the move is expected to create high-quality jobs and boost digital capabilities.
🇦🇪 Spare receives in-principle approval from the Central Bank of the UAE for an open finance license. Spare provides merchants a secure and unified API platform for financial account-to-account payments and data access, enabling capabilities such as recurring payments, future-dated payments, account aggregation, identity verification, risk assessment, and many more.
🇦🇪 UAE Central Bank set to launch Digital Dirham in phases. Once launched, Digital Dirham, which is the digital alternative to physical money, will allow the public to use it for a wide range of payments, including online, in-store, commercial, and peer-to-peer transactions.
Want your message in front of 100.000+ Digital Banking fanatics, founders, investors, and operators?
Shoot me a message on LinkedIn or send me an e-mail.
