Bank Muamalat to open 3 branches in 2011

Bank Muamalat will open three new branches to add to its existing network of 55, said its chief executive officer, Datuk Mohd Redza Shah Abdul Wahid.

However, Bank Muamalat would focus more on renovating existing branches this year as opposed to opening new ones.

Mohd Redza said renovation of the branches would emphasise aspects of service to customers and the use of more machines for them to deposit cash and make other payments.

On the cost of renovation, he said for a big branch such as that at the PKNS Complex, it would entail about RM1 million and for others, in the range of RM700,000 each.

On the location of new branches, he said Shah Alam had potential due to the large number of customers from among students of public and private institutions of higher education apart from high demand for home financing.

As such he added, Bank Muamalat would look at areas such as Kota Damansara and as suggested by the Mayor, Bukit Jelutong and Puncak Alam.

Other than new branches, Bank Muamalat would soon open a kiosk at the Kota Kemuning branch of the Giant hypermarket, with customers able to undertake various banking transactions and interact with one or two of its staff to be placed there.

Mohd Redza said discussions were underway with POS Malaysia Bhd to offer Bank Muamalat's services at post offices throughout the country.