KUALA LUMPUR, Jan 17 — Hong Leong Islamic Bank Bhd (HLISB) today inked a memorandum of understanding with Andalusia Travel and Tours Sdn Bhd to offer Shariah-compliant financing for the umrah pilgrimage.
The partnership will see the bank complementing Andalusia’s umrah package with its comprehensive suite of personal banking products, aligning with the bank’s commitment to upholding Islamic finance values.
HLISB chief executive officer Dafinah Ahmed Hilmi said that through the collaboration, Muslims planning to perform the umrah pilgrimage can finance their travel following the Shariah principle by utilising the bank’s Islamic finance offerings, particularly the Personal Financing-i as well as the Pay and Save Account-i.
“The Personal Financing-i solutions offer Shariah-compliant financing, which comes with up to 60 per cent pay-on-time rebates on profit, while the Pay and Save Account-i provides up to 4.15 per cent profit per annum on the account balance.
“The Pay and Save Account-i also has a multi-currency feature, allowing for foreign currency spending with the HLISB debit card, withdrawing foreign currencies from overseas automated teller machines, and direct conversion of the ringgit to foreign currencies at a competitive rate,” she said during the signing ceremony, today.
Meanwhile, Andalusia director and legal advisor Ida Riswana Idris said the collaboration will ensure that customers have access to affordable ways to finance the umrah pilgrimage with a holistic suite of financial tools and services.
“We believe that this will open more doors for the Muslim community to manage their finances effectively while fulfilling their religious obligations,” she added. — Bernama
