KUALA LUMPUR, 17 April 2019 – Bank Islam Malaysia Berhad (“Bank Islam”) celebrates the 10th year anniversary of its Al-Awfar product by announcing several enhancements of “New Al-Awfar” on 16 April 2019. This investment account will provide more attractive offers to its customers including an increase in the value of prizes of up to RM14 million.
Bank Islam made history in the Islamic banking industry when the Bank pioneered the offering of the first-of-its-kind Al-Awfar (an innovative investment account product with an attractive prize offer) on 25 March 2009. It is a low-risk investment account based on Mudarabah concept where Al-Awfar funds are invested in existing Housing Financing and Fixed Assets portfolio to ensure a strong sustainable investment. Al-Awfar does not open to individuals but business entities, associations, religious bodies, schools, universities, clubs, and organizations as well are eligible to open this account.