KUALA LUMPUR: Maybank Islamic Bhd expects strong growth of between 20% and 30% for both deposits and financing for financial year ending June 30, 2011 in line with an improved economic environment.
Its chief executive officer, Ibrahim Hassan, said for the last financial year, its deposits grew by 32% to RM7.9 billion.
For the first six months of financial year ended 2010, the bank posted a growth of 18% for financing and 15% for deposits compared with the previous corresponding period, he said.
"The bank expects to see a double-digit growth for deposits and financing for this year," he told a media briefing after the signing of a memorandum of understanding with Yayasan Waqaf Malaysia (YWM) to launch the waqf service here on Friday, July 2.
Waqf is a structured community-giving initiative that allows customers to place deposits as waqf contribution.'' ''
Also present were Maybank Islamic chairman, Datuk Seri Ismail Shahudin and YWM vice chairman, Datuk Dr Sohaimi Mohd Salleh and chief executive officer, Azri Ahmad.
Ibrahim said the bank expected to record between RM2 million and RM3 million in contributions from its waqf service for the first year.'' Currently, the bank has three million customers, he said.
He said Maybank Islamic was the first financial institution in the country to offer such an integrated waqf solution to customers.
"With waqf, our institutional and retail customers would have the opportunity to participate in a structured community-giving programme as part of their wealth distribution strategy.
"This service is part of the bank's ongoing strategy to develop innovative products and services that will not only benefit its customers but also reinforce Malaysia's leadership in Islamic banking services," he said.'' ''
Maybank Islamic has 12 full-fledged Islamic branches as well as through over 380 Maybank branches nationwide.
It plans to open another two branches to be located in I-City Shah Alam and Melaka this year.
Maybank Islamic has assets exceeding RM40 billion. - Bernama
Its chief executive officer, Ibrahim Hassan, said for the last financial year, its deposits grew by 32% to RM7.9 billion.
For the first six months of financial year ended 2010, the bank posted a growth of 18% for financing and 15% for deposits compared with the previous corresponding period, he said.
"The bank expects to see a double-digit growth for deposits and financing for this year," he told a media briefing after the signing of a memorandum of understanding with Yayasan Waqaf Malaysia (YWM) to launch the waqf service here on Friday, July 2.
Waqf is a structured community-giving initiative that allows customers to place deposits as waqf contribution.'' ''
Also present were Maybank Islamic chairman, Datuk Seri Ismail Shahudin and YWM vice chairman, Datuk Dr Sohaimi Mohd Salleh and chief executive officer, Azri Ahmad.
Ibrahim said the bank expected to record between RM2 million and RM3 million in contributions from its waqf service for the first year.'' Currently, the bank has three million customers, he said.
He said Maybank Islamic was the first financial institution in the country to offer such an integrated waqf solution to customers.
"With waqf, our institutional and retail customers would have the opportunity to participate in a structured community-giving programme as part of their wealth distribution strategy.
"This service is part of the bank's ongoing strategy to develop innovative products and services that will not only benefit its customers but also reinforce Malaysia's leadership in Islamic banking services," he said.'' ''
Maybank Islamic has 12 full-fledged Islamic branches as well as through over 380 Maybank branches nationwide.
It plans to open another two branches to be located in I-City Shah Alam and Melaka this year.
Maybank Islamic has assets exceeding RM40 billion. - Bernama
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