KUALA LUMPUR (Feb 4): AEON Bank (M) Bhd announced that its chief executive officer, YM Raja Datin Paduka Teh Maimunah, will step down from her role effective March 31, 2026.

Raja Teh Maimunah joined the bank three years ago, has been pivotal in guiding AEON Bank through its formative years.

Under her leadership, the institution achieved a historic milestone as Malaysia’s first digital Islamic bank, successfully building its cloud-native core infrastructure and securing full regulatory approval for public launch.

Chairman and independent non-executive director Tomokatsu Yoshitoshi paid tribute to her contributions in a statement: "On behalf of the board, I would like to thank Raja Teh for her visionary leadership.

Taking a bank from concept to a fully operational digital ecosystem is a monumental achievement. She has laid a rock-solid foundation, positioning AEON Bank to scale and advance our mission of financial inclusion."

Reflecting on her tenure, the outgoing CEO said: “I am proud of the infrastructure we built and the talented team we assembled. I leave with full confidence that AEON Bank will continue to thrive."

Meanwhile, AEON Bank said it has initiated a succession plan to ensure a seamless transition, with details to be announced following regulatory clearance.

AEON Bank, which launched its app on May 26, 2024, is one of five licensed digital banks in Malaysia. It is jointly owned by AEON Financial Service Co Ltd (AFS) of Japan and AEON Credit Service (M) Bhd (KL:AEONCR). AFS is a Japanese financial group with roots in the retail sector and with a strong presence in Asia.

The AEON Bank chief's resignation follows the exit of its chief technology officer Glen Cha just a month ago in pursuit for a shift into a new industry. 

Elsewhere, other Malaysian digital banks have similarly seen change of leadership, including at KAF Digital Bank where CEO Rafiza Ghazali left at the end of last month.