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Bank Islam to enlarge credit card base

BANK Islam Malaysia Bhd seeks to increase the number of its credit cardholders to 220,000 from the current 120,000 by June 2006. Its general manager of consumer banking group, Datuk Wan Ismail Wan Yusoh, said the bank is confident of achieving the target based on the response of consumers toward its credit card since the bank launched the Syariah-based credit card in 2003.

Wan Ismail said the bank is also confident of raising its credit card base in view of the higher market potential through its co-branding initiatives with several organisations such as Universiti Utara Malaysia, Tabung Haji and Malaysian Building Society Bhd.

He was speaking to reporters after a prize presentation ceremony in Kuala Lumpur yesterday for the winners of Bank Islam-MasterCard’s reality programme “Baru Aku Tahu” aired on the ntv7 television channel. Deputy Minister of Information Datuk Zainuddin Maidin witnessed the event.

The programme, which focused on family values as well as the importance of proper financial planning, attracted viewers who applied for the bank’s credit card via the short messaging service (SMS).

Wan Ismail said that during the promotion of the reality programme which started in October last year and ended on January 1 this year, the bank has received 3,050 new applications for credit card through the SMS.

On Bank Islam’s plans for its credit card segment, he said the bank will launch its Platinum Card early next month which will offer several privileges and rewards to consumers.

He, however, declined to disclose further details on the Platinum Card.

Bank Islam is the first bank in Asia Pacific to have launched Syariah-based credit card using the Europay Mastercard Visa Integrated Chip card Standard with high security technology - Bernama

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