Skyro, a consumer finance group focused on digital lending in the Philippines, said on September 29 that its Malaysian entity has obtained a moneylender’s license from Malaysia’s Ministry of Housing and Local Government.

The license allows Skyro to offer online moneylending in Malaysia and launch cash loans in the coming months.

In Malaysia, moneylending licenses are issued by the local government ministry rather than Bank Negara Malaysia.

Non-bank moneylenders are governed by the Moneylenders Act 1951.

Malaysia will be Skyro’s second Southeast Asian market after the Philippines.

The expansion comes as the Consumer Credit Act 2025 establishes a framework for non-bank credit providers and a new Consumer Credit Oversight Board.

Malaysia’s finance ministry said providers regulated under laws including the Moneylenders Act 1951 will, in phases, require licensing or registration under the new regime.

Skyro said it has disbursed more than US$600 million in loans and built a base of more than 7 million registered users since it was founded in 2022.

The company said it reached operating break-even in the first half of 2026 and plans to expand to other markets, including Saudi Arabia.

🔗 Source: Skyro

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