AL RAJHI BANK UNVEILS ITS LATEST HIJRAH INITIATIVE FOR THE MASS AFFLUENT

12 Jul 2013 11:19
SUNGAI PETANI, July 9 (Bernama) -- Al Rajhi Bank, the largest Islamic bank in the world, launched its Hijrah Priority Card in Sungai Petani on July 8, 2013. The announcement was made at its Sungai Petani Branch launching ceremony which was officiated by YAB Dato' Paduka Haji Mukhriz Bin Tun Dr Mahathir, Menteri Besar Kedah. The Hijrah Priority Card is a card offered to its Mass Affluent customers earning a minimum income of RM3,500 per month. In support of its 'Hijrah with Al Rajhi' initiative, a 3-year campaign which spans across the whole suite of the Bank’s Retail financial products and services, the card would be the latest addition to the Hijrah portfolio of Retail products. The Hijrah Priority Card offers waiver of withdrawal fee during the Hajj season at 3,100 Al Rajhi ATMs in Saudi Arabia, hence allowing cardholders to perform their Hajj and Umrah with peace of mind and without having to be concerned by their accessibility to their cash. On top of that, cardholders are given 50% cost saving on ATM withdrawal fee at Al Rajhi ATMs in Saudi Arabia during the off-Hajj season. “Al Rajhi Bank’s Hijrah Priority cardholders are able to leverage on the breadth of the network in the Bank’s native country of Saudi Arabia for their ease of transaction in the Holy Land,” said Datuk Azrulnizam Abdul Aziz, Chief Executive Officer of Al Rajhi Bank (Malaysia) at the launching ceremony. As an added benefit, cardholders may collect “Rajhi Reward Points” every time they spend using Hijrah Priority Card worldwide. Al Rajhi Bank’s debut in Kedah is aimed at tapping the potential for Islamic banking products and services in the northern state. The bank also aims to offer an alternative banking experience to the people of Sungai Petani and Kedah in general, which has embarked on the implementation of the Northern Corridor Economic Region (NCER) to help boost its economy. Datuk Azrulnizam said: “Al Rajhi Bank’s home base is in the Kingdom of Saudi Arabia. Apart from Malaysia, the Bank also has operations in Kuwait and Jordan, where we serve high net worth customers in the Middle East and North Africa. These customers are also viewed as potential sources of foreign direct investments. Our bank is thus well-positioned to act as a catalyst for the movement of these investments into our country and the subsequent servicing of these clients.” For more info, customers are encouraged to visit its website at www.alrajhibank.com.my About Al Rajhi Bank Al Rajhi Bank, the largest Islamic banking group in the world is recognised for being instrumental in bridging the gap between modern financial demands and intrinsic Islamic values. One of the fastest growing and most progressive banks in Saudi Arabia, it owes its banking excellence to its unwavering commitment to Shariah principles and the use of technology to offer diverse products to meet customer needs. The Group has a vast network of over 700 bank branches and remittance centres, 3,100 ATM machines and over 25,000 POS installed throughout the Kingdom. Leveraging on its established principles and operations in the Middle East, Al Rajhi Bank ventured out as an international bank by setting up its first overseas operations in Malaysia, launched in February 2007. Operating on the same platform as the home bank, Al Rajhi Bank Malaysia extensively uses the latest banking technology to consistently provide customers with speed and convenience in banking. To date, it has 24 branches, 15 in the Klang Valley, one in Johor Bharu, Melaka, Penang, Kuching, Kota Bharu, Ipoh, Kuantan, Kota Kinabalu and Sg Petani respectively. Plans are in the way to open a few more this year. Al Rajhi opened it Affluent Banking flagship branch in Menara BRDB in Bangsar to cater to its high net worth customers. Offsite ATMs are now located in many locations throughout Malaysia, with KLIA and LCCT ATMs deployed in July 2011. Its remittance business, Money Transfer i-Tahweel (“i-Tahweel”) is currently available at its i-Tahweel Centres in Melaka, Klang, Kota Kinabalu, Miri, Putatan and Kotaraya. The services are also offered through any Al Rajhi Bank branch nationwide. The bank is expanding its suite of products and services that currently offers customised corporate and investment banking products which include amongst others project financing, term financing, working capital financing, trade finance facilities and cash management services. The Retail banking products includes Savings Account-i, Current Account-i, Personal Financing-i, Debit Card-i, Fixed Term Investment-i, Money Transfer i-Tahweel, Automobile Financing-i, Home Financing-i, and Structured Home Financing-i amongst others. As of April 2013, Al Rajhi has a customer base over 170,000 and the number is steadily growing. Al Rajhi Bank has been recognised with the following awards (amongst others): • Financial Insights Innovation Award 2008 (FIIA) Special Citation for Islamic Payment Switch (IPS) for Al-Musafir Card-i • KLIFF Islamic Finance Awards 2010 Most Outstanding Islamic Bank • Islamic Finance news Awards 2010 - Malaysia Deal of the Year - Cagamas Sukuk ALIm - Best Retail Islamic Bank • 2010 IFR Asia Awards Islamic Deal of the Year Award - Cagamas Sukuk ALIm • Financial Insights Innovation Award 2011 (FIIA) Product Innovation (Islamic Banking Product) - Cagamas Sukuk ALIm • Aon Hewitt Best Employers in Malaysia 2011 • Aon Hewitt Best Employers in APAC 2011 • RAM League Awards 2011 - Lead Manager Award Islamic 2010 Programme Value (2nd) - Malaysian Innovation of the Year - Cagamas Sukuk ALIm - Industry Recognition Award • The Asset Triple A Islamic Finance Awards 2011 - Islamic Deal of the Year for Cagamas one billion ringgit Sukuk Al-Amanah Li Al-Istithmar - Best Islamic Deal, Malaysia for Cagamas one billion ringgit Sukuk Al-Amanah Li Al-Istithmar • KLIFF Islamic Finance Awards 2011 Most Outstanding Islamic Bank • Islamic Finance news Awards 2011 Best Retail Islamic Bank • 2012 Malaysia Service to Care Award (MSCA) The Best of Malaysia Service to Care Award (Islamic Bank) • The Asset Triple A Islamic Finance Awards 2012 Best Islamic Structured Product for Wakala bi al-Istithmar investment account • KLIFF Islamic Finance Awards 2012 “The Most Outstanding Islamic Finance Product” for Al Rajhi Collateralised Commodity Murabahah-i (CCM-i) • Gradmalaysia.com 2012 Malaysia’s 100 Leading Graduate Employers SOURCE : Al Rajhi Bank FOR MORE INFORMATION, PLEASE CONTACT: NAME : Ms Roseta Mohd Jaafar Vice President â€" Corporate Communications TEL : 03 2301 7038 MOBILE : 019 240 9422 EMAIL : roseta-mohd.jaafar@alrajhibank.com.my Branding Kit http://www.alrajhibank.com.sa/en/media-centre/pages/brand-kit.aspx --BERNAMA