Bank Islam launch "SINAR LETRIK HOME CAMPAIGN" in collaboration with TNBPrint this page
Date: 08 July 2009
Bank Islam Malaysia Berhad (Bank Islam) will help home owners pay part of their electricity bills for five years under a collaboration entered into with Tenaga Nasional Berhad (TNB). Under the initiative called, 'Sinar Letrik Home Campaign' (Sinar Letrik) Bank Islam will reimburse new home financing customersâ€™ electricity bills for five consecutive years. The amount to be reimbursed is based on the scale of the financing amount and is only applicable for completed properties in Peninsular Malaysia. To enjoy this benefit customers must apply for home financing or refinancing of at least RM150,000. They are also required to apply for a Bank Islam Card (BIC) or have an existing Bank Islam Card and will have to apply for the "Autopay service" from TNB. The collaboration was formalised at a signing ceremony between Bank Islam and TNB on Friday, 3 July 2009. Bank Islam was represented by Managing Director Dato' Zukri Samat while TNB was represented by its President/Chief Executive Officer, Dato' Seri Che Khalib Mohamad Noh. Announcing the details of the initiative, Dato' Zukri said: "Being an Islamic financial institution, Bank Islam is deeply concerned with the financial welfare of fellow Malaysians. Hence, in the midst of the global economy downturn, we remain committed to take proactive measures to assist our customers in dealing with the challenges of the current economic situation." The Sinar Letrik campaign complements Bank Islam's existing innovative financial programmes such as the 'Payment Holiday Scheme', 'No Payment during Construction', and the 'Capital Protected Structured Investment Product'. For home financing amounts of between RM150,000 and RM200,000, Bank Islam will reimburse a total of RM100 for the electricity bills and the reimbursed amount increases based on the financing amount, i.e. the higher the financing amount, the higher the entitlement for reimbursement. The maximum summation of the reimbursement is RM200 for a financing amount that totals more than RM500,000. This Sinar Letrik campaign will be offered to customers for a three month period from July to September 2009. Dato' Zukri said: "While the Sinar Letrik initiative will help ease the financial commitments of our customers, we believe it will also help spur our home financing business." Our goal is to increase Bank Islam's customers' product holding, accelerate 2009's financing growth in house financing assets and enhance the Bank's profitability especially as it forms part of the BIC's loyalty and anti-attrition programme.