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Bank Muamalat to open 4 new branches by year-end
Last update: 25/11/2018

MUAR, Nov 25 (Bernama) -- Bank Muamalat Malaysia Bhd (Bank Muamalat) will open four new branches by year-end while the opening of new branches for 2019 is still under discussion.

Its Chief Executive Officer, Datuk Mohd Redza Shah Abdul Wahid said the bank was targeting major cities and flourishing areas which were densely populated and served by the institutions of civil service for the new branches.

He was speaking at the opening of Bank Muamalat branch in Muar today.

Mohd Redza Shah said the new branch, the bank’s 65th in Malaysia and the 10th in Johor. would bring its banking services closer to customers, as well as enable it to explore new markets in line with the rapid development of the area.

Meanwhile, he said the bank has introduced new services called E-Derma and E-Purchased through the Quick Response (QR) Code application system to facilitate customers in making donations to mosques and making payments to the institutions involved.

He said Bank Muamalat was the second bank in the country to introduce the services to facilitate physical cashless transactions.

"Customers only need mobile phones to make donate to mosques or make payments to any institutions that use the QR Code application. This payment method is safer, easier and can reduce the use of e-wallet," he said.

Mohd Redza said through E-Derma, the customers can donate as low as RM1 and the application was provided free to the mosques, while the E-Purchased service would be extended to business institutions.

The opening of Bank Muamalat’s Muar branch was officiated by Energy, Green Technology, Science, Climate Change and Environment Minister Yeo Bee Yin.

Present were Bank Muamalat Head of Operations Division Mohd Yassin Yaacob and its Regional Manager, South Region Office, Mohd Zamri Pardi.





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100 Yen3.8032/8070
Source: Bank Negara Malaysia

Reduction in the overnight policy rate (OPR) by Bank Negara Malaysia would be good for consumer spending and investment;
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