Skyro Secures Approval to Launch Online Moneylending in Malaysia

KUALA LUMPUR, 29 September 2026 – Skyro, a high-growth consumer finance group, today announced that it has received approval from the Ministry of Housing and Local Government (KPKT) to conduct online moneylending in Malaysia. 

This announcement makes Skyro one of the first international consumer fintech players to announce its operations in Malaysia’s online lending market since the country's new consumer credit framework came into effect in 2026. The expansion marks Skyro's second Southeast Asian market after the Philippines and will see the company bring its technology-led approach to credit assessment, including AI-powered decisioning, to Malaysian consumers.

Malaysia's credit landscape is evolving as financial institutions look for new ways to assess consumers who may be less visible to traditional credit systems. Bank Negara Malaysia has identified “thin-file” customers who may lack sufficient credit history, financial track records or data for banks to assess their risk. By the end of 2025, Malaysia's digital banks had approved RM1 billion in financing, with 34% going to unserved and underserved customers.

Against this backdrop, Skyro plans to bring its technology-led approach to credit assessment to Malaysia, using AI-powered decisioning and alternative data alongside traditional indicators to build a broader picture of a customer's creditworthiness.

Nasim Aliev, Co-founder and Co-CEO of Skyro, said:

“Ambitions shouldn't have to wait. Across Southeast Asia, we see hardworking people held back not by a lack of effort, but because traditional credit assessment doesn't always reflect their circumstances.Malaysia is an important next market for Skyro. We want to take what we've learned in the Philippines and build financial products around the needs of Malaysian consumers, while ensuring transparency and control over their borrowing.”

Founded in 2022, Skyro has grown its consumer finance business in the Philippines to more than seven million registered users. Since its founding, the company has built a credit portfolio of more than US$200 million and reached operational break-even in the first half of 2026.

Building on its experience in the Philippines, Skyro plans to bring a similar approach to Malaysia. Using AI and alternative data to assess creditworthiness, adapted to local market conditions and regulatory requirements. 

Arsen Liametov, Co-founder & Co-CEO of Skyro, said:

“Our experience in the Philippines has shown us how technology and alternative data can help make credit assessment more accessible while still lending responsibly. Malaysia is the next step in Skyro's Southeast Asian growth, and our priority is to build a business that works for the local market rather than simply replicate what we have built elsewhere.”

Skyro's entry comes as Malaysia strengthens oversight of its wider consumer credit landscape. The Consumer Credit Act 2025 came into force in March 2026, establishing the Consumer Credit Commission and introducing a more comprehensive framework aimed at strengthening consumer protection and promoting fair, transparent, and responsible credit practices

The Malaysia business will initially focus on cash loans, with plans to introduce further consumer finance products over time as Skyro builds a broader offering tailored to the needs of Malaysians.