Borneo Housing lauded for offering Shariah-compliant financial products, services
KOTA KINABALU: The Sabah Government has always been committed to providing Shariahcompliant financial products and services, especially to State Government officers.
Chief Minister Datuk Seri Panglima Mohd Shafie Apdal said in view of that, the Borneo Housing Mortgage Finance Berhad, being the management company of the State Government officers' home financing schemes, has been requested to provide Islamic financing products and services.
“Borneo Housing, being one of the oldest Government-linked companies has a progressive track record. Over the years since its incorporation in 1958, it has consistently recorded good profits and contributed dividends every year to shareholders, namely, the State governments of Sabah and Sarawak,” said Shafie, who was represented by Assistant Finance Minister, Sarifuddin Hatta, at the launching of the Borneo Housing's Islamic Financial products and 60th Anniversary of Incorporation dinner held at the Marriott Hotel near here.
He added that this is a feat that few other companies can match.
“The position of Borneo Housing is unique in the sense that it is a company jointly owned by the Sabah and Sarawak governments, which signifies the true sense of collaboration and co-operation between the two states,” he said.
He also said that Borneo Housing offers various home financing products and services to meet the needs of specific market segments, such as the state's civil servants, employees of statutory bodies, local authorities, governmentlinked companies and agencies, as well as the general public.
“Over the years, it had assisted a lot of families in the States of Sabah and Sarawak to attain home ownership,” he said.
Shafie also noted that with the introduction of the Islamic financing products and services, Borneo Housing now offers a range of alternatives, thus, providing a greater number of choices for the customers, particularly state civil servants.
“In terms of home ownership, I understand that Borneo Housing has put in place, financing guidelines and internal controls to protect the interest of home purchasers by ensuring that they have the capacities and capabilities to honour their financial obligations in order not to fall into financial hardship down the road,” he said.
Also present at the event were Sabah State Secretary, Datuk Hashim Paijan, Borneo Housing Mortgage Finance Berhad's chief executive officer, Hwa King Nee, Board chairman, Tan Sri Datuk Amar Abdul Aziz Husain, and general manager, Chia Chin Ming.