MBF targets to issue 50,000 cards under AIMST programme

  • Business
  • Wednesday, 25 Feb 2004

MBF Cards (M) Sdn Bhd has set a target to achieve 50,000 cards for its MBf AIMST Gold MasterCard programme, an affinity card for MIC members, within the next 12 months. 

MBF Cards deputy president Al Alagappan said the cards were aimed at helping raise funds for MIC-initiated college, the Asian Institute of Medicine, Science and Technology (AIMST). 

“Based on response from MIC members, we hope the programme would contribute up to RM6mil in the first year,'' he told reporters after formalising the partnership with AIMST operator, Maju Institute of Educational Development (MIED), for the introduction of the programme in Kuala Lumpur last Thursday. 

MBF, a credit card issuer since 1987, has licences from MasterCard International and Visa International while MIED is MIC’s non-profit education arm that currently runs two colleges. 

MIED was represented by Works Minister and MIC president Datuk Seri S. Samy Vellu. 

MBF Cards will donate 0.1% of total spending charged to the MBf AIMST card to the AIMST, which will be operating from its proposed RM8mil campus in Sungai Petani, Kedah. 

The company will lower the minimum income limit from RM42,000 per year to RM18,000, making an applicant with a monthly income of RM1,500 eligible to own the affinity card. 

MBF Cards currently has 25,000 affinity cards under its Education for All programme, mainly from its strategic alliance with MCA for the MCA MBf MasterCard programme.  

The company had, in the middle of last year, teamed up with MCA for the card programme which was aimed at raising funds for the latter’s Universiti Tunku Abdul Rahman. 

“MBF will be focusing on niche markets, particularly on expanding its affinity card base,” added Alagappan. 

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