PETALING JAYA: AmIslamic Bank Bhd has been appointed financier and facility agent by Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) for a 10-year RM1.5bil Bai’Inah Term Financing-i, a facility guaranteed by the Government.
In a statement yesterday, PTPTN chairman Datuk Dr Mohamad Shahrum Osman said AmIslamic Bank was the second financial institution to sign a financing agreement with PTPTN, an organisation tasked with managing and providing financing for Malaysian students to pursue studies at local institutions of higher learning.
“We now have 391,790 students under our loan scheme and for 2010, we have a total of 166,116 newly approved loan applicants with loans amounting to RM1.5bil, which are expected to be disbursed by April 2010,” he said.
The proceeds of the facility would be used to provide syariah-compliant education financing as PTPTN, since December last year, had started providing education financing under the Islamic principle of Ujrah.
We're sorry, this article is unavailable at the moment. If you wish to read this article, kindly contact our Customer Service team at 1-300-88-7827. Thank you for your patience - we're bringing you a new and improved experience soon!
What do you think of this article?