RHB Islamic Bank forms strategic partnership with as-Salihin Trustee Berhad to offer customers Islamic Estate Planning services

KUALA LUMPUR, May 26, 2008: RHB Islamic Bank Berhad (“RHB Islamic”) had today signed an agreement with as-Salihin Trustee Berhad (“as-Salihin”) to form a strategic partnership for the distribution of Islamic Estate Planning (“IEP”) products and services to RHB Islamic’s existing as well as prospective customers. Through this partnership, RHB Islamic will be able to capitalize on as-Salihin IEP experience and existing range of products while as-Salihin will be banking on the RHB Islamic’s wide distribution channel and quality customer database. As-Salihin is one of the biggest IEP players in Malaysia.

The strategic partnership aims to widen the scope of the market and at the same time increase the awareness on the necessity for Muslims in Malaysia to subscribe to the IEP.

“Many Muslims, not only in Malaysia but around the globe, believe that there is no urgency to write a wasiat or will during their lifetime, assuming that the living spouse, children and parents will be taken care of by Faraid. This is a general perception that we will work on to change” said YBhg. Datuk Faisal Siraj, Chairman of RHB Islamic.

YBhg. Datuk Faisal added that inadequate awareness of IEP is one of the main contributing factors for the low take-up rate for the IEP products in Malaysia. Statistics shows that only 1% of 16 million Muslim population in Malaysia have actually written their wasiat.

Signing on behalf of RHB Islamic was its Managing Director, Puan Jamelah Jamaluddin, while Encik Abdul Aziz Peru Mohamed , Chief Executive Officer of as-Salihin, signed on behalf of as-Salihin. YBhg. Datuk Faisal Siraj and YBhg. Tun Dato’ Dr. Haji Mohd Salleh Abas, Chairman of RHB Islamic and as-Salihin respectively witnessed the signing ceremony.

YBhg. Tun Dato’ Dr. Haji Mohd Salleh Abas , Chairman of as-Salihin said, “ We would like to acknowledge and congratulate RHB Islamic Bank for their foresight towards Estate Planning needs for the ummah and for being as-Salihin's 1 st Islamic Corporate Partner Bank.”

“ Through this strategic collaboration with RHB Islamic Bank, as-Salihin’s expertise and services can now be channelled through RHB Islamic Bank's customer network and to the Muslim population at large ” he added.

Under the strategic partnership with as-Salihin, RHB Islamic will offer the following products and services:-

1. Declaration of Joint-Income (Harta Sepencarian)
2. Range of will writing services (Perkhidmatan Berkaitan Wasiat)
3. Administration of Estates
4. Hibah / Wakaf / Gifts
5. Executorship / Trustee

RHB Islamic is part of the RHB Banking Group, one of the largest financial services groups in Malaysia. RHB Islamic’s products and services are available not only at more than 180 RHB Bank branches nationwide and dedicated marketing centres in strategic locations but also through RHB PhoneBanking and Internet Banking facilities. It has been recognized internationally as one of the more innovative Islamic banking institutions that offer products and services that best meet customers’ needs.

As-Salihin was incorporated under the Companies Act 1965 and registered under the Trust Companies Act 1949. A s-Salihin is a Trust Company established to meet the need of all Muslims to preserve, protect and distribute their hard-earned assets for the benefit of their loved ones once they depart for the hereafter.

Issued by: Group Corporate Communications Division, RHB Capital Berhad for RHB ISLAMIC Bank Berhad. For further information, please call: Akmal Baqi Ariff at 012-6658704 or Adeline Ong / Kala Sukumar at 012-8833345 / 012-7100324