Collaboration Offers Banking Facility to KOPSYA
KUALA LUMPUR, Friday, 10 February 2012 – Bank Islam Malaysia Berhad (Bank Islam) will be the total banking solutions provider to ‘Koperasi Pembiayaan Syariah Angkasa Berhad’ (KOPSYA) under a strategic collaboration inked by both parties today.
Under the Memorandum of Understanding (MoU) signed today, which was witnessed by Chairman of Bank Islam, Y.Bhg. Dato’ Zamani Abdul Ghani and President of Angkasa cum Chairman of KOPSYA Angkasa Berhad, Y.Bhg. Professor Dato’ Dr. Hj Mohd Ali Hj Baharum, Bank Islam will extend the Bank’s entire range of Shariah-based financial services to KOPSYA, giving it access to the latest banking products and facilities.
Under the terms of the MoU, Bank Islam has agreed to work together with KOPSYA in establishing the most suitable banking service structure for KOPSYA and its members to more effectively conduct their financial businesses. This could include the provision of Corporate Investment Banking, Treasury and Cash Management Services.
Bank Islam Managing Director, Y.Bhg. Dato’ Sri Zukri Samat said at the signing ceremony that the collaboration will benefit both KOPSYA and Bank Islam in their efforts to further develop and run their businesses efficiently.
“Bank Islam will draw on its experience and expertise in Shariah-based banking system to provide advisory service to KOPSYA with regards to the latest Shariah financial products and help KOPSYA ensure its members receive the latest and best financial services.”
“In addition to enabling both parties to give the best services possible to their respective clients, it will add credibility to the Islamic financial industry and expose KOPSYA and its members to the latest products and services in the financial industry,” he added.
Y.Bhg. Professor Dato’ Dr. Hj Mohd Ali Hj Baharum said the collaboration adds a new dimension to KOPSYA’s operational development.
“KOPSYA intends to help other cooperatives in this country to further develop their businesses, and this collaboration with Bank Islam will allow KOPSYA to achieve that objective,” he said, adding that “as a reputable Islamic financial institution known for its innovative products and services, Bank Islam enables KOPSYA and its members to conduct their businesses more effectively.”
For example, in helping KOPSYA members streamline trade management workflow, Bank Islam will make available the deposit service to KOPSYA’s account via counter services at all Bank Islam branches nationwide, cash deposit machines, standing instructions, Internet Banking (bankislam.biz) and TAP Mobile Banking.
In addition, Bank Islam will embark on the modernisation programme of KOPSYA’s payment management via e-commerce and terminal. Both parties have also agreed to build a platform in which to create a co-branded credit and debit card.
As the pioneer Islamic bank in Malaysia, Bank Islam plays an important role in introducing and developing the Islamic financial services to the public. With a portfolio of innovative products and services, Bank Islam has proven its capability in raising the standard of the Islamic banking industry on par with conventional banking industry.