MobilityOne Shares Soar Over 75% After Securing Approval for Islamic Banking Operations in Labuan

Shares in MobilityOne Limited surged more than 75 per cent to 3.33 pence following the announcement of a significant regulatory development in its expansion into Islamic digital banking. The company, which provides e-commerce infrastructure payment solutions and platforms, confirmed that its wholly owned subsidiary, MobilityOne Sdn Bhd, has received conditional approval from the Labuan Financial Services Authority to establish MBO Bank (Labuan) Ltd.

Labuan, a federal territory of Malaysia, holds special status as an International Business and Financial Centre and is positioned as an offshore financial hub. The newly approved entity will operate within Labuan’s regulatory framework, offering Shariah-compliant digital banking services to offshore clients.

Whilst the company acknowledged the approval as a significant milestone, it has made clear that no revenue or earnings are anticipated from this initiative during the 2026 calendar year. Substantial preparatory work remains necessary to satisfy the capital, governance and operational conditions stipulated by the regulator.

MobilityOne stated that it intends to engage with potential strategic partners and investors to ensure MBO Bank can meet the requisite capital requirements and fulfil all regulatory and operational obligations over the coming year.

The planned service offering from MBO Bank includes digital deposits, Islamic financing products and cross-border corporate banking solutions, positioning the entity to serve the growing demand for Shariah-compliant financial services in the offshore banking sector.