Response to media commentary and speculation
MobilityOne Limited has issued a statement clarifying recent media speculation regarding its Islamic digital banking business, confirming that its wholly-owned subsidiary, M1 Malaysia, has not yet secured a full Shariah-compliant Islamic digital banking license from the Labuan Financial Services Authority. While conditional approval was granted on December 31, 2025, for the establishment of MBO Bank (Labuan) Limited, the company acknowledges that outstanding conditions, including sufficient capital reserves and strong corporate governance, remain to be met. MobilityOne is actively working to fulfill these requirements and will provide further updates as appropriate.
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MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and platform provider, notes the recent media commentary stating, inter alia, that MobilityOne Sdn Bhd has secured a full-fledged Shariah-compliant Islamic digital banking licence from the Labuan Financial Services Authority.
On 31 December 2025, MobilityOne announced that MobilityOne Sdn Bhd ("M1 Malaysia"), the Group's wholly-owned operating subsidiary in Malaysia, had received conditional approval from Labuan Financial Services Authority ("Labuan FSA") for M1 Malaysia to establish a subsidiary in Labuan to be named MBO Bank (Labuan) Limited ("MBO Bank"), to carry on Islamic digital banking business in Labuan, Malaysia.
As further outlined in the announcement, the conditional approval is subject to, inter alia, MBO Bank having sufficient capital reserves, strong corporate governance and other strict operational and prudential requirements in place as stipulated by the Labuan FSA.
The Group can confirm that the conditions outlined in the announcement on 31 December 2025 remain outstanding. Notwithstanding this, the Group is working to meet the required conditions.
The Company will make further announcements as and when appropriate.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.