18/08/2025

MONDAY | AUG 18, 2025

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BANKING & INSURANCE

RHB Islamic in tie-up with AmanahRaya PETALING JAYA: RHB Islamic Bank Bhd has forged a business and strategic partnership with Amanah Raya Bhd (AmanahRaya), Malaysia’s premier estate administration and legacy management solution provider, to provide offerings, particularly Islamic wills writing and innovative HiBAHKU solutions. The new offerings complement RHB Islamic Bank’s existing estate planning offerings, enhancing the breadth and depth of solutions available to customers. They will also cement the bank’s position as a key player in the legacy management segment, a vital com ponent of the broader Islamic wealth management (IWM) sector. Ultimately, this initiative aims to significantly expand RHB Islamic Bank’s market share through new cross-selling opportunities. RHB Islamic managing director Datuk Adissadikin Ali said, “This strategic colla boration with AmanahRaya marks a key milestone for RHB Islamic Bank in the Islamic wealth management landscape. By partnering with the nation’s leading and highly experienced legacy management agency, we are not only expanding our product suite with best-in-class Islamic wills writing and HiBAHKU solutions but also reaffirming our commitment to being a holistic financial partner for our customers. “Beyond competitive returns, IWM’s true value lies in its contribution to a better future, both in this life and the hereafter. This partnership is designed to empower more Malaysians to plan for their future and manage their legacy with confidence and in accordance with syariah principles.” He added, “At RHB Islamic Bank, we view IWM as a holistic approach to wealth creation, accumulation, protection, puri fication and distribution, ensuring both short-term financial success and long term sustainability. The launch of the RHB Islamic Specialists Wealth Adviser (Riswa) Certification Programme, which aims to develop highly skilled relationship managers, will assist in contributing to this Islamic legacy programme.” Innovation is central to RHB Islamic Bank’s IWM, leveraging technology and digital platforms for enhanced accessi bility. The bank also prioritises sus tainability, integrating environmental, social, and governance factors into its offerings to ensure products yield financial returns while contributing positively to society. This commitment extends to social finance initiatives, reinforcing its dedication to social inclusion. “AmanahRaya was established with a national responsibility. Our role, as set out under the Public Trust Corporation Act 1995, is to ensure that every Malaysian, regardless of background or income, has access to a structured and secure way to plan for the future. To date, we have registered more than 1.2 million wills, administered over 350,000 estate cases and managed more than 200,000 trust accounts worth approximately RM21 billion,”said AmanahRaya group managing director Ahmad Feizal Sulaiman Khan. “This collaboration between Amanah Raya and RHB Islamic creates new opportunities for Malaysians seeking complete financial planning solutions. RHB customers can now access Amanah Raya’s Estate Administration and Legacy Management Solution Provider through all 196 RHB branches nationwide.”

Bank Muamalat offers step-up profit rate package

PETALING JAYA: Bank Muamalat Malaysia Bhd is the first bank in Malaysia to offer a step-up profit rate package (Super) under Skim Jaminan Kredit Perumahan (SJKP), a government-backed initiative aimed at expanding affordable homeownership among under served communities. Through the Smart Mortgage SJKP Super, Bank Muamalat is taking a proactive role in supporting the government’s national housing agenda by providing a more inclusive and flexible home finan cing solution tailored for first-time homebuyers, especially those with informal income or limited credit history. The product, introduced in 2022, further strengthens the bank’s involvement in SJKP since 2019. “This innovative offering is designed to ease the financial burden of homeownership, particularly in the early years of financing. Through the step-up profit rate, customers benefit from lower monthly instal

OCBC Malaysia bags Private Wealth Bank of the Year award PETALING JAYA: OCBC Bank (Malaysia) Bhd has been named Private Wealth Bank of the Year at the 2025 Asian Banking and Finance Retail Banking Awards. The bank also secured the Branch Innovation of the Year award at the same ceremony. The awards highlight the success of OCBC’s Premier Private Client Centre in Bangsar, Kuala Lumpur, a flagship facility launched earlier this year to provide what the bank calls a “beyond banking” experience. OCBC Malaysia managing director and head of consumer financial services Sammeer Sharma said the recognition reflects the group’s strong footprint in Asean and Greater China and its ambition to grow further in Malaysia’s wealth segment. “These awards affirm our commitment to redefining wealth management through innovation and client centricity. With strategic investments and immense growth opportunities in Malaysia, we are confident of doubling our affluent client base over the next five years.” Tailored for clients with assets under management of RM3 million and above, the centre offers solutions across 11 major currencies, with over 80% of products linked to sustainability. Clients gain access to exclusive research from OCBC Group and Bank of Singapore and can execute transactions via a fully paperless dealing desk. The centre’s GENesis Programme also supports succession planning and next generation financial literacy. To further support the rakyat , Bank Muamalat also offers the SJKP Madani Super variant, which provides up to 120% financing. This includes additional coverage for renovation, home furnishings and fittings – offering a holistic and practical solution to help customers own and settle into their homes comfortably. ments. This approach not only lightens financial commitments but also enables customers to build stronger credit profiles as they advance in their careers. Smart Mortgage SJKP Super offers financing of up to RM500,000, inclusive of mortgage reducing term takaful or mortgage level term takaful, legal fees and valuation fees. It is specifically designed for first-time home buyers, particularly those from the underserved or informal income segment, in line with the govern ment’s aspiration to promote inclusive financial access.

o First-time homebuyers benefit from lower monthly instalments for first five years with Smart Mortgage SJKP Super scheme

ments for the first five years, giving them breathing room to manage other financial obligations or build their savings,” Bank Muamalat presi dent and CEO Khairul Kamarudin said in a joint statement. Syarikat Jaminan Kredit Perumahan Bhd principal officer Datuk Fazlur Rahman Zainuddin said, “SJKP is a housing credit guarantee scheme by the govern ment aimed to assist the rakyat , particularly the unserved and underserved, to obtain financing from 16 participating financial institutions to purchase their first homes. SJKP was first introduced in 2008 and managed by Syarikat Jaminan Kredit Perumahan , a

Minister of Finance Incorporated company. Our target groups are those without fixed income, or low income such as gig-workers, farmers, fisher men, night-market/petty traders, etc. “For 2025, the government has allocated RM10 billion worth of guarantee to enable the financial institutions to extend financing to the target groups, including RM5 billion allocation for the step-up financing. As of May 31, 2025, we have managed to assist 88,507 recipients of the scheme purchased their first homes,” he added. Eligible customers will enjoy improved cash flow management during the construction period, with profit-servicing-only pay

MDEC and BSN representatives formalising the collaboration.

MDEC, BSN team up to groom digital leaders PETALING JAYA: Malaysia is doubling down on its bet that teenagers could be the country’s next technology disruptors. Malaysia Digital Economy framed the collaboration as an investment in the nation’s economic future, noting that the digital economy is projected to contribute 25.5% of gross domestic product by the end of this year. The collaboration aims to reach students from diverse socio eco nomic backgrounds, expanding beyond the 675 participants already trained under earlier iterations.

Corporation (MDEC) has signed a memorandum of understanding with Bank Simpanan Nasional (BSN) to scale up Next Gen TeenXChange, a programme targeting 15 to 20 year olds with high potential in digital technology and leadership. The initiative is a direct evolution of MDEC’s long running Digital Ninja programme, but with a wider scope – pairing coding and innovation training with financial literacy, soft skills and exposure to real world entrepreneurship. MDEC CEO Anuar Fariz Fadzil

Of that group, 250 are female students who have since moved on to roles in university research and industry innovation, a sign of the programme’s potential to narrow gender gaps in tech leadership. Industry watchers say initiatives such as TeenXChange could help address Malaysia’s chronic talent shortages in areas such as artificial intelligence, cybersecurity and green technology, but caution that scaling access and follow through into careers will determine real impact.

“Next Gen TeenXChange isn’t just about talent development, it’s about future proofing Malaysia. We want to ensure our youth are not only digitally skilled, but capable of leading inclusive and globally competitive growth,” he said. BSN chief executive Jay Khairil said the bank’s involvement reflects its push to integrate financial literacy into youth programmes, saying it “strengthens the foundation for a financially and digitally savvy society”.

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