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Bank Islam Launches Sadaqa House
Last update: 19/01/2018

ALOR SETAR, Jan 19 (Bernama) -- Bank Islam Malaysia Bhd (BIMB) today launched Sadaqa House, its latest agenda for social finance initiatives.

Chief Executive Officer,†Khairul Kamarudin†said the initiative allows†contribution from the public to be made through the bank's digital crowdfunding collaboration with Ethis Ventures Sdn Bhd and†GlobalSadaqa.com, to be channelled towards realising social finance projects for underserved sectors such as healthcare, education and entrepreneurship.

In addition, the public may contribute to the projects using Bank Islam's existing channels such as Internet banking, transact-at-palm (TAP) mobile Banking-I and Bank Islam credit card, he told the media during the launch of Sadaqa House at the three-day Kedah Financial Carnival 2018, organised by Bank Negara Malaysia at the TH Hotel and Convention Centre here today.

Locally and globally, the public may donate any amount of money into the Sadaqa†House fund account, and†Bank Islam undertakes to match the raised amount†at the rate of 1:1 to a maximum of RM500,000.

Khairul said that for the first phase, the bank will be collaborating with a few non-governmental organisations as strategic partners in undertaking†projects, including the Institut Jantung Negara Foundation, Yayasan Sultanah Bahiyah and Technology Park Malaysia.

He said Bank Islam is bringing technology into its shariah solution, while delivering†services that are†more aligned with the current digital trend.

"This initiative is part of the bank's digital journey to ensure convenience, efficient servicing and high impact with†ease of implementation," he said.

-- BERNAMA

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CLOSING, THURSDAY, APRIL 19
US 3.8890/8920
S'pore 2.9694/9728
100 Yen 3.6214/6252
Sterling 5.5204/5263
Euro 4.8103/8144
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?
 

 
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