Hong Leong Islamic Bank opens branch

Thursday September 18, 2008

By IAN MCINTYRE

KOTA BARU: Hong Leong Bank Bhd wholly owned unit Hong Leong Islamic Bank Bhd has opened its third branch and the first in the east coast.

Hong Leong Islamic Bank managing director Khalid Bhaimia said the branch at Jalan Kebun Sultan was the first outside the Klang Valley and marked the commitment of the bank to serve the Islamic syariah banking market.

“This branch will support the operations of the branches in Shah Alam and Kuala Lumpur,” he said at the branch opening by Kelantan Mentri Besar Datuk Nik Abdul Aziz Nik Mat.

Also present was group managing director and chief executive Yvonne Chia.

Datuk Nik Aziz Nik Mat cutting the ribbon at the branch opening. With him is Khalid Bhaimia (middle).

Started as a division of Islamic banking of Hong Leong Bank, Hong Leong Islamic Bank became a separate entity on March 28, 2005.

Khalid said the opening of the pioneer branch in the east coast was in tandem with market requirements for Islamic banking services.

“Besides a comfortable place for customers, we are providing e-banking, capital market, asset management and personal financing services and automated teller machine terminals,” he added.

Nik Abdul Aziz said the opening of a bank managed by non-Muslims showed that Islamic banking was gaining popularity as an alternative to conventional banking principles.

With a population of some one billion Muslims worldwide, Islamic banking had a huge market base to capitalise, he added.