Al Rajhi To Help Promote Malaysia My Second Home Print E-mail
From The Star, Thursday August 16, 2007

PENANG: Al Rajhi Bank (ARB) aims to tap into its customer base of over three million in Saudi Arabia, where its headquarters are located, to help promote the Malaysia My Second Home programme.

Its chief executive officer Ahmed Rehman said the bank was confident of playing a role in attracting more Arabs to purchase properties in Malaysia.

"We believe our bank can work with bodies like the Penang Development Corporation (PDC) to produce brochures on the Malaysia My Second Home programme for our customers in Saudi Arabia.

"We have 400 branches in Saudi Arabia serving over three million customers. I am sure there is a percentage of them who would be interested in owning a home in Malaysia," he said.

Ahmed was speaking to reporters after the official launch of ARB’s first branch in Penang by Chief Minister Tan Sri Dr Koh Tsu Koon.

Ahmed said in conjunction with the official launch, ARB was introducing a special ARB personal financing introductory offer for customers at its branches located in Penang, Johor Baru, Malacca and Kuching.

"Salaried applicants and self-employed business people can enjoy personal financing of up to RM150,000 at a preferred rate. The offer is valid from Aug 16-30," he said.

According to Ahmed, ARB had developed new Islamic financial products with Middle-Eastern flavour for the retail and wholesale market in the country.

"We are also embarking on designing made-in-Malaysia Islamic banking products and services that will contribute to Malaysia's reputation as a trailblazer in Islamic banking," he said.

ARB, he said, would increase its branches in Malaysia to 50 by 2010. The bank currently has 16 branches.