RHB Islamic Bank spreads its wings to Kelantan

Kota Bharu, Oct 26, 2005: RHB Islamic Bank Bhd (“RHB Islamic Bank”) opened its first marketing centre here yesterday as part of an effort to boost its presence in the East Coast of Peninsular Malaysia.

Kelantan Menteri Besar Dato’ Haji Nik Aziz Nik Mat, accompanied by RHB Islamic Bank Chairman Encik Vaseehar Hassan Abdul Razack, officially declared open the bank’s Kota Bharu Marketing Centre (KBMC).

The opening ceremony was preceded by a tour of the centre’s premises on Jalan Kebun Sultan. Among those accompanying the Menteri Besar on the tour were state government officials, directors and senior management personnel of RHB Islamic Bank and the RHB Group of Companies, as well as clients.

The party subsequently proceeded to the Renaissance Kota Bharu Hotel where guests were given an introduction to RHB Islamic Bank and the KBMC before the Menteri Besar officially declared open the centre.

Encik Vaseehar said the opening of the new marketing centre underlined the commitment of RHB Islamic Bank to bring its products and services to an even wider audience, particularly those away from the nation’s business and commercial centres such as the Klang Valley.

“As a new brand in the local Islamic banking industry, RHB Islamic Bank views Kota Bharu as a city with a huge potential to mature into a dynamic business centre. We would like to take this opportunity not only to establish our brand name in this new and growing market, but also to offer high quality financial products and services to new and existing customers in Kelantan and the other East Coast states,” he said.

He added that RHB Islamic Bank also decided to open its first marketing centre in Kota Bharu in conjunction with the declaration of the state capital as the Islamic City.

RHB Islamic Bank, which first opened its doors to customers on March 16, 2005, already has a physical presence in Kelantan and all other parts of the country through the 206 branches of RHB Bank Bhd (“RHB Bank”).

In fact RHB Islamic Bank, which received its licence from Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz on March 1, 2005, making it the first Islamic banking window to mature into a full-fledged Islamic bank, has the widest reach among Islamic banks in Malaysia.

Apart from the branches, customers can gain access to its products and services at any of the more than 500 ATMs, as well as on its website www.rhbislamicbank.com.my .

The KBMC will serve as RHB Islamic Bank’s launch pad to market its products to corporate, commercial and consumer clients not only in Kelantan but all along the East Coast of Peninsular Malaysia.

RHB Islamic Bank Chief Executive Officer, Mr Khalid Bhaimia, said the bank viewed Kelantan as a market with huge potential for growth.

He said the KBMC would serve as an alternative delivery channel for the local people to obtain RHB Islamic Bank’s high quality products and services.

“The opening of our marketing centre in Kota Bharu will also help RHB Islamic Bank position our brand in the local market,” Mr Bhaimia said.

He also expressed his gratitude to Bank Negara Malaysia for giving RHB Islamic Bank the approval to open a marketing centre in Kota Bharu as well as to the Kelantan State Government for its full support for the bank’s initiatives.

The KBMC will be headed by marketing manager Norliza Ab Shukor. The operating hours are from 9am to 5.30pm from Saturdays to Wednesdays and from 9am to 1pm on Thursdays. It is closed on Fridays and public holidays.

RHB Islamic Bank is part of the RHB Group of Companies, one of the largest financial services groups in Malaysia.

Apart from Islamic banking and commercial banking, the RHB Group also offers investment banking as well as insurance products and services through its merchant bank, RHB Sakura Merchant Bankers Bhd (“RHB Sakura”) and its insurance subsidiary RHB Insurance Bhd (“RHB Insurance”).

The products and services offered by subsidiaries in the merchant banking group are securities and futures trading, unit trust, asset management, corporate finance and advisory services, underwriting, privatisation, loan syndication and project financing.

Early this year the RHB Group appointed five experts on economics, law and Islamic finance to sit on its Shariah Committee. Three of the members are Malaysians; one is from Saudi Arabia and the last from the United Kingdom, making it the first Shariah panel in the region that has internationally-recognised expertise in Islamic finance.

Earlier this year, in a tie-up with Dow Jones Indexes, RHB Securities Sdn Bhd launched the Dow Jones RHB Islamic Malaysia Index, an internationally recognised index to track Islamic counters on Bursa Malaysia.

For more information on the KBMC and RHB Islamic Bank, please call 09-7472525 or fax 09-7472526.