Bank Muamalat Launches Awwal Credit Card-i, Offers Access To More Transparent, Affordable Financing

KUALA LUMPUR, Oct 20 (Bernama) -- Bank Muamalat Malaysia Bhd has launched the Awwal Credit Card-i, which offers access to financing in a more transparent, affordable and prudent manner, in accordance with Shariah principles.

The Awwal Credit Card-i is developed based on the concept of responsible financing. It offers an effective profit rate of 14 per cent per annum, no annual fee, and adopts a non-compounding profit concept.

President and chief executive officer Datuk Khairul Kamarudin said the launch of the Awwal Credit Card-i reflects Bank Muamalat’s commitment to providing the public with financial solutions that are more accessible, transparent and responsible.

“The Awwal Credit Card-i was developed with customers’ needs in mind, enabling them to manage their spending more wisely while ensuring that credit facilities are used responsibly.

“This is in line with our aspiration to provide financial solutions that deliver real value and support our customers’ financial well-being,” he said in a media statement today.

The credit card-i was officially launched by Deputy Prime Minister Datuk Seri Fadillah Yusof in conjunction with the 21st Kuala Lumpur Islamic Finance Forum (KLIFF), an international platform for the Islamic finance industry.

In addition, customers will enjoy complimentary Takaful coverage for their outstanding balances as a promotional benefit in conjunction with the card’s launch, subject to terms and conditions.

Applications for the Awwal Credit Card-i are open from today via Bank Muamalat’s website or at its branches.

-- BERNAMA