Bernama.com,
Tuesday 02 February, 2010

KOTA BARU - After 36 years in operations since Dec 1, 1974, Bank Simpanan Nasional (BSN) is set to be the lead bank in implementing syariah-compliant Islamic banking in the country.

To be introduced nationwide in stages, the bank wants to complement the Government’s plan to make Malaysia a pioneer nation in Islamic banking.

It is determined to support and execute various action plans drawn up to develop the Islamic banking industry.

The latest initiative taken by the bank was the setting up of two branches at Taman Bendahara in Pengkalan Chepa and at Jalan Kelantan in Kuala Nerus, Terengganu.

General manager and chief executive Datuk Adinan Maning said opening a branch in Kelantan was yet another effort by BSN towards developing the Islamic banking system besides providing access to syariah-compliant financial products and services to the public.

Besides Pengkalan Chepa, BSN started Islamic banking transactions in its Kuala Nerus branch on Dec 1 last year, he said.

With 400 branches nationwide currently, BSN pioneered Islamic banking transactions in 1994 with only two products – Simpanan Wadiah and Al-Mudaharabah, said Adinan. — Bernama

In tandem with the Islamic finance industry’s rapid growth, he said BSN’s financial products and services developed progressively.

To date, he said, BSN had introduced various syariah-compliant products from easy banking and financing to complex investment banking.