Petronas and Bank Islam launch cash at counter service

epa05190482 Malaysia's Petronas Twin Towers rise behind a Petronas logo at a gas station in Kuala Lumpur, Malaysia, 02 March 2016. Petronas is cutting as many as 1,000 jobs as it reorganises its businesses and trims the fat to counter a slump in the price of crude oil. EPA/FAZRY ISMAIL

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has teamed up with Bank Islam Malaysia Bhd to allow holders of the bank’s Visa Debit Card-i card to withdraw cash at Petronas station counters.

Petronas and Bank Islam said in a statement that the first phase of this joint initiative covered all 150 Petronas stations in three states, namely Kelantan, Terengganu and Pahang.

This service is in addition to the Bank Islam automated teller machine (ATM) facilities that are currently available at 11 Petronas stations.

“The long-term plan is to expand this service to all Petronas stations nationwide and open to all Visa debit cards to deliver greater convenience to our customers,” Petronas Dagangan Bhd (PDB) managing director and chief executive officer Mohd Ibrahimnuddin Mohd Yunus said at the signing of an agreement between PDB and Bank Islam at Petronas station in Pasir Pekan, Tumpat.

Bank Islam managing director Datuk Seri Zukri Samat said the collaboration with Petronas marked Bank Islam as the pioneer bank to provide this first-of-its-kind facility in Malaysia.

“With this facility in place, we hope to increase the usage of Bank Islam Visa Debit Card-i and merchant sales volume at Petronas stations,” he said, adding that the Cash at Counter Service using point-of-sale (POS) terminals would boost the locations where its Visa Debit Card-i customers can withdraw cash in the three states to 299 locations from 149 currently (all Bank Islam automated teller machines).

To withdraw cash at Petronas station counters, the debit card holders must make a minimum retail purchase of RM5 for either fuel or items from Kedai Mesra.

A limit is set to RM500 per cash transaction for each card holder while the default maximum daily transaction is capped at RM2,000.

Bank Islam Malaysia Bhd, a subsidiary of BIMB Holdings Bhd, was established in 1983 as the nation’s first Islamic bank. The bank has a network of 144 branches and more than 1,200 self-service terminals nationwide.