Bank Islam Malaysia Bhd expects to attract 100,000 depositors and deposits of RM50 million within the first year of the launch of Al-Awfar Junior Savings Account-i for young customers.
The consumer banking business contributes 70 per cent to Bank Islam's assets.
"With the launch of this new product, the bank expects a minimum growth of 15 per cent in its assets from RM9.2 billion last year," said general manager for consumer banking, Khairul Kamarudin.
He said Al-Awfar Junior would allow the bank to further expand its customer base to include the younger generation.
"With the introduction of the Al-Awfar Junior Savings Account-i, Bank Islam has taken a big step towards enhancing its position as the leader in the Islamic banking industry and ensuring that syariah-based financial products and services are available at every level," he said.
The full story is available at Bernama.
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