Abstract: We construct an extension of the Standard Model with a scalar leptoquark Q iota similar to (3,1, – 13) and the discrete flavor symmetry Gf _ D17 x Z17 to explain anomalies observed in charged-current semileptonic B meson decays and in the muon anomalous magnetic moment, together with the charged fermion masses and quark mixing. The symmetry Zdiag 17 , contained in Gf, remains preserved by the leptoquark couplings, at leading order, and efficiently suppresses couplings of the leptoquark to the first generation of quarks and/or electrons, thus avoiding many stringent experimental bounds. The strongest constraints on the parameter space are imposed by the radiative charged lepton flavor violating decays a -mu y and μ-ey. A detailed analytical and numerical study demonstrates the feasibility to simultaneously explain the data on the lepton flavor universality ratios R(D) and R(D*) and the muon anomalous magnetic moment, while passing the experimental bounds from all other considered flavor observables.