The Bank Islam Malaysia Berhad, also known as BIMB, was Malaysia’s first Islamic Bank recognized mainly for providing financial services to the country’s Muslims along with the larger population as a whole. Bank Islam issues credit cards as well as supplying other services. The Bank issues both Visa and Mastercard, in Classic, Gold and Platinum. To qualify, applicants must be at least 21 years of age. Cards are issued based on income requirements of RM 18,000 annually for the Classic, RM 36,000 for Gold, and RM 84,000 for the Platinum cards. When applying, there are documents required for both fixed-income earners as well as self employed applicants. The application can also be accessed online.
All of Bank Islam’s credit cards have distinct features that card holders will be able to appreciate. The Bank Islam Gold and Classic cards have contracts with tenure of three years. Transactions are accepted from “HALAL” merchants only and are based on the Shariah contract free from “Riba” and “Gharar”. The cards also incorporate state of the art “Smart” chip technology for added security. Annual fees are waived contingent upon a minimum of 12 transactions yearly. Zakat payments are also accepted.
The Platinum Mastercard provides complimentary Group Family Takaful coverage. Zakat payments can also be made by the card holder through auto-debit and the internet, as well as standing instructions and EDC terminals. The bank also provides discounts through Mail Order Telephone Order, also known as MOTO, programs. In addition they supply free travel insurance, flight inconvenience benefits, purchase protection, and more, including 24 hour concierge service.
In addition, Bank Islam offers internet banking to its customers, allowing participants to conveniently and safely manage their finances from a remote location. Enrolling is simple. Users need simply to choose a PIN number at any Bank Islam ATM, soon thereafter they can enjoy performing a majority of banking transactions via the internet, although this does not include making their Bank Islam credit card payment online. Other service available through internet banking - viewing account summaries, details, and history, making fund transfers between single owned accounts or third party accounts, among others. The status of checks can also be examined as well as ordering new check books as required.
While making a Bank Islam credit card payment online is not currently available, secure internet banking is. Being able to access account information from the comfort of home or abroad, brings a certain peace of mind to banking customers. It allows ready access to information and convenience, as well as the ability to scrutinize and perhaps detect fraudulent transactions early on, which is a necessary benefit to today’s consumers.
