Bank Rakyat eyes RM1 billion credit card transactions in 2017

Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) is eyeing to sign up over 450,000 credit card holders with RM1 billion transactions next year, with the introduction of the Muslimah Card.

Chief Operating Officer Md Khairuddin Arshad said the introduction of the card was aimed at increasing Bank Rakyat's overall credit card proportion of female ratio from 50 to 55 within 12 months.

"The female segment is very significant in the consumer market and we expect it to grow.

"Currently, we have 385,000 credit card holders with total transactions of around RM800 million," he told reporters after launching the Muslimah Card here today.

Khairuddin said the card offered various exclusive offers to female customers, including providing a competitive profit rate, and waiving charges for overseas transactions and annual fee.

"Card holders can enjoy discounts of five to 10 per cent at holiday destinations and for purchases of products and other Syariah-compliant goods and services at selected boutiques and beauty and health centres," he said.

Khairuddin said the Muslimah Card was also in line with the government's effort to encourage cashless transactions and the bank would set up more credit card terminals to further promote cashless purchases.

At the launch, Malaysian actress, television presenter and model Noor Neelofa Mohd Noor, better known by her stage name Neelofa, was named as Muslimah Card ambassador.

"We are confident that Neelofa's popularity will be a factor in attracting more female cardholders and raise public awareness of the various Islamic products and services offered by us," Khairuddin said. - BERNAMA