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Saudi Arabia’s Al Rajhi Bank hopes to play a role in attracting more Arabs to purchase properties in Malaysia. With an aim to tap into its customer base for over three million in its home country t
o participate in Malaysia’s My Second Home programme.
Chief executive officer Ahmed Rehman said, “We believe our bank can work with bodies like the Penang Development Corp to produce brochures on the programme for our customers in Saudi Arabia.”
With 400 branches in Saudi Arabia serving over three million customers, Ahmed is confident that a percentage would be interested in owning a home in Malaysia.
In the conjunction with Al Rajhi’s first branch in Penang, the bank is making a special personal financing introductory offer at its branches in Penang, Johor Baru, Melaka and Kuching.
“Salaried applicants and self-employed business people can enjoy personal financing of up to RM150,000 at a preferred rate. The offer is valid from August 16 to 30,” he said.
The bank has also developed new Islamic financial products with a Middle Eastern flavour for the retail and wholesale market in the country.
“We are also embarking on designing made-in-Malaysia Islamic banking products and services that will contribute to Malaysia’s reputation as a trailblazer in Islamic banking.”
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