BSN Islamic growth target

BANK Simpanan Nasional Bhd (BSN) hopes to sustain a 10 per cent growth in new account holders for all its Islamic banking product this year.

The target is based on the good response from BSN's Islamic banking customers, comprising not only Muslim customers but also non-Muslims.

"We noticed that our Islamic products appeal to all, including the non-Malays," BSN vice president and Islamic banking head Ahmad Noh Jeni said.

He was speaking to reporters after announcing a hibah or a bonus payment of two per cent to all its Islamic accountholders here yesterday.

To date, BSN has eight million accountholders of which two million are under BSN GIRO-i.

Amah Noh said the hibah payment is based on profit-sharing concept called mudharabah where it does not limit the profit payment to our clients.

"This is the second time we are making the hibah payment, after having done it in 2009. We also gave out two per cent then," he added.

Ahmad said he was unsure if the hibah payment will be made too next year. BSN was established in 1974 and has 389 branches nationwide with total savings of RM10.8 billion.