Bank Islam eyes 5,000 new cardholders with World MasterCard

KUALA LUMPUR: Bank Islam Malaysia Bhd aims to sign up 5,000 new cardholders with the launch of its new World MasterCard card for the financial year ending June 30, 2010.Its Consumer Banking Group general manager, Khairul Kamarudin, said that to date, the bank had almost 500,000 cardholders.

The Bank Islam World MasterCard, unveiled yesterday, is Asia Pacific’s first Islamic World MasterCard card. It is an exclusive card membership via invitation only and “will allow members to indulge in the most luxurious comforts in style, class and sophistication”, the bank said in a statement issued during the launch at its head office here.

Speaking reporters, Khairul said that Bank Islam’s target for the new product was “the affluent segment”.

Among the privileges are higher financing limit, no annual fee for life and free use of safe deposit box for three years.

“We are currently working with safe deposit box companies at three different locations, namely Damansara, USJ Summit and Raja Chulan,” Khairul said.  He said the cardholders would also receive free comprehensive Takaful travel coverage of RM2 million, free Takaful purchase protection coverage of RM10,000 and free Takaful coverage on outstanding balance of RM100,000.

MasterCard’s vice president and senior country manager for Malaysia and Brunei, Jim Cheah, said his company was actively in talks with several banks interested in rolling out World MasterCard. He refused to elaborate. — Bernama

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