Bank Islam aims to issue 50,000 visaBAM debit cards by year-end

KUALA LUMPUR: Bank Islam Malaysia Bhd targets to issue 50,000 new Visa Debit Card-i ( Islamic) by year- end under its latest co- branding effort with the Badminton Association of Malaysia ( BAM).

Chief executive officer, Khairul Kamarudin, said the bank currently has 3.2 million co- brand debit card holders nationwide.

The partnership with BAM marks the bank’s 16th co-branding effort. Previously, it has collaborated with the national and state football associations, hockey team, universities and telecommunications company.

“The introduction of the BAM card is part of Bank lslam’s strategy in expanding its financial inclusion reach to sports enthusiasts throughout the country.

“As a financial intermediary, it is our mission to assist Bank Negara Malaysia realise its aspiration to establish a cashless society,” he said at the launch of the card yesterday.

Also present was BAM President Datuk Seri Mohamad Norza Zakaria.

Khairul said the bank would continue to expand its co-branding initiative and partner with more valued clients to offer a distinct value to the customers and reach the younger community segment at large.

He said part of revenue from the annual fees would be given to BAM as part of the bank’s and cardholders’ contributions to the development of the national badminton team.

“With each card issued and renewed, RM2 would be channelled to BAM for the said purpose,” he said.

In conjunction with the launch, Bank lslam also provided a sponsorship of RM300,000 to BAM to help it develop the sports to discover more potential players for the nation.

The new card will be issued at 147 Bank Islam branches nationwide from the third week of next month. — Bernama