From left: AmBank Islamic head of Islamic retail banking Basharuddin Abdul Wahid, AmBank Islamic chief executive officer Eqhwan Mokhzanee, AmBank consumer financing head Syed Ihsanputra Syed Mohd Fudzan and AmBank auto finance and direct sales head Alice Lin.
KUALA LUMPUR: AmBank Islamic has launched the Auto Financing-i Murabahah Tawarruq which is a Shariah-compliant product based on the concept of Murabahah Tawarruq.
“With our national cars becoming more advanced with extensive features, vehicle financing should be enhanced as well. The Auto Financing-i Murabahah Tawarruq offers a higher financing margin with more flexible product features to adapt to new changes in the automotive industry,” chief executive officer Eqhwan Mokhzanee said in a statement.
AmBank said the Auto Financing-i Murabahah Tawarruq is under the fixed rate reducing balance method and it offers financing of up to 100% and flexible tenure of up to nine years for brand new national car purchases.
The financing is specially curated for employees of federal/state government, statutory bodies and Government Link Companies (GLC).
Employees who enroll in salary deduction via the Biro Perkhidmatan ANGKASA client salary deduction code programme can enjoy a 3-month payment deferment, it said.
