$1 Club, page-28510

@Pepper70 IDSB has it's own license and operates as a separate entity to IOU to which holds the money lending license as per the acquisition approximately 12 months ago. As far as I am aware, there is no requirement for any BNPL company to hold a Money Lending License as of yet. The reasons for IOU to make this acquisition could be for any and all of the following reasons;

1. There are countless money lending scams in Malaysia and holding a valid money lending license adds to the credibility of IOU.

2. A safe guard against future regulations that may arise

3. The money lending act was put in place to help citizens avoid loan sharks that do not practice safe lending. BNPL is seen as micro-lending, holding a license helps people identify IOU as a business that practices safe lending.

I believe the acquisition was a safe move by the company even though it's not required at this time. These are my opinions based on research.