Bank Islam eyes investment funds growth of RM800mil for 2019


Mohd Muazzam: Over the last decade, Al-Awfar has produced 23 millionaires.

Mohd Muazzam: Over the last decade, Al-Awfar has produced 23 millionaires.

KUALA LUMPUR: Bank Islam Malaysia Bhd aims to achieve an investment funds growth of RM800mil this year, driven by the launch of its enhanced Al-Awfar product, which includes new features and attractive offers for customers.

Chief executive officer Mohd Muazzam Mohamed (pic) said the bank is also looking to attract 230,000 new customers this year via the product, adding that Al-Awfar had been successful in attracting new customers since it was launched in 2009.“Over the last decade, Al-Awfar has produced 23 millionaires. Bank Islam has received an overwhelming response (for the product), and we achieved a good track record with a total fund size of RM2.45 billion and 771,496 accounts.

“Based on this encouraging response, we decided to further improve the product, enhance the draw prize structure and increase the total value of prizes from RM10mil to over RM14mil,” he told reporters at the launch of the enhanced product here yesterday.

The draws are divided into three main categories, namely half-yearly special draws, quarterly draws and monthly draws.

Prizes include cash, luxury cars, an umrah package and Apple brand products such as iMac, Macbook Pro and iPhone. — Bernama

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