AIZO unit secures BNM licence to enter remittance sector

KUALA LUMPUR (March 12): AIZO Group Bhd has secured regulatory approval to enter the remittance services sector after its subsidiary, Uniqa (M) Sdn Bhd, was granted a Class B Money Services Business (MSB) Licence (Remittance Only) by Bank Negara Malaysia.

In a statement on Thursday, the group said Uniqa, a 60 per cent-owned subsidiary of Techmile Resources Sdn Bhd, which is wholly owned by AIZO, is now authorised to conduct remittance services, allowing it to facilitate international money transfers for both individuals and businesses.

The licence is valid for one year until March 3, 2027.

AIZO said the approval marks a step in AIZO’s strategy to diversify into financial technology-enabled services and expand its presence in Malaysia’s digital payments and cross-border financial services ecosystem.

Executive chairman Dato Abang Abdillah Izzarim said the licence represents a milestone as the group expands beyond its traditional operating segments into regulated financial services.

“This initiative reflects the group’s ongoing efforts to diversify revenue streams and capture opportunities emerging from the rapid growth of digital payments and cross-border financial transactions in the region.

“With the regulatory framework now in place, we intend to progressively develop Uniqa’s remittance capabilities through technology platforms and strategic partnerships, while maintaining the highest standards of compliance and governance required by Bank Negara Malaysia,” he said.

AIZO noted that increasing regional trade flows, migrant remittances and digital commerce activities across Southeast Asia continue to drive structural demand for remittance services.

Through Uniqa’s newly secured licence, the group plans to develop technology-driven remittance solutions aimed at facilitating secure and seamless cross-border transactions.

Looking ahead, AIZO said the addition of regulated remittance services complements its strategy of building a more diversified and resilient business portfolio.

The group will continue to evaluate opportunities that leverage technology and regulatory frameworks to unlock new growth avenues while maintaining operational focus across its existing core segments.