Bank Islam plans three more Ar-Rahnu branches
Bank Islam Malaysia Bhd (5258) plans to open three more Ar-Rahnu, or Islamic pawnbroking, branches by the year-end.
Managing director Datuk Seri Zukri Samat said two branches will be in Kelantan and the third possibly in Kuala Lumpur.
Each branch is estimated to cost RM150,000, Zukri said after signing a strategic partnership with Universiti Teknologi Mara (UiTM) to offer a co-branded platinum "MasterCard Bank Islam-Alumni UiTM" in Shah Alam, Selangor, yesterday.
Bank Islam now has two Ar-Rahnu branches in Pasir Mas and Kota Baru in Kelantan.
On the platinum card, the country's first Islamic bank expects some 30,000 UiTM alumni and staff to sign up within 12 months. At present, UiTM has more than 400,000 alumni.
Bank Islam will donate RM60 for every new card issued to the "Mengubah Destini Anak Bangsa" (MDAB) fund, which is mooted by Prime Minister Datuk Seri Najib Tun Razak.
The MDAB was set up to help children from poor families pursue pre-diploma and diploma programmes at UiTM.
Bank Islam hopes to raise RM1.8 million for the fund in the next one year, based on potential 30,000 new cardmembers during the period.
Zukri said the alliance was initiated by Bank Islam as part of its corporate responsibility programme.
UiTM alumni, who sign up for the platinum card, stands to get a 40 per cent discount on will-writing services and free takaful protection travel of up to RM1 million.
Additionally, 0.3 per cent of their retail purchase amount will be contributed to the MDAB fund.
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