Government and Statutory Bodies in Malaysia to Benefit from AmBank Islamic’s Personal Financing-i Shariah-Compliant Facility

Malaysia’s AmBank Islamic has developed a new product, Personal Financing-i, aimed at employees of the federal and state governments, government-linked companies, statutory bodies and other selected agencies. Details of the new facility were issued in a statement by AmBank on the 30th of December 2020.

According to the statement, some key features of Personal Financing-i include financing of up to MYR 200,000 requiring no collateral, lock-in period or guarantor. In addition to this, borrowers are entitled to a three-month payment holiday at the point of loan disbursement, as well as an optional Takaful coverage provided by AmMetlife Takaful.

Eqhwan Mokhzanee, AmBank Islamic’s Chief Executive Officer, commented on the new facility stating that it had been part...