Al Rajhi Bank, the largest Islamic bank in the world, launched its first branch in Perak at Persiaran Greentown, Pusat Perdagangan Greentown, today.
 
Attended by Al Rajhi Bank’s customers, partners and government officials, the new Ipoh branch was officiated by YAB Dato’ Seri DiRaja Dr Zambry Abdul Kadir, Menteri Besar Perak, together with Mr Azrulnizam Abdul Aziz, Chief Executive Officer of Al Rajhi Bank (Malaysia).
 
Al Rajhi Bank’s Ipoh branch comes in line with the Bank's expansion strategy aimed at meeting the needs of its customers wherever they are, with Shariah-compliant banking products and services that are structured using fair and transparent Islamic principles.
 
Mr Azrulnizam said, "As Perak heads toward exciting years ahead with its plans to further engage with local companies and to boost economic growth, Al Rajhi Bank hopes to capture the opportunities of the ripple effect of progress and the abundance that will certainly come with it and needless to mention, offers an alternative banking experience to the people of Ipoh and Perak in general.”
 
Al Rajhi Bank’s commitment to product innovation, customer service and ethical conduct has been the key to its success. Since its presence in Malaysia five years ago, Al Rajhi Bank has been growing progressively with 130,000 strong customers, becoming the reliable banking partner that offers its customers the highest standards of banking professionalism, efficiency and compliance.
 
Al Rajhi Bank has won several accolades for its innovative product suite, latest being voted the Best Islamic Retail Bank by Islamic Finance News Award. Its unique sukuk structure, Sukuk ALim that was developed for issuance under Cagamas Berhad, won the Euromoney Award and a trail of many other awards.
 
Popular products include the i-Zamzam savings account for Umrah and Hajj pilgrims, award winning Musafir card-i, Gold-i investment (sale of gold bars) for the high net worth individuals, and offsite remittance centres for the convenience of international and migrant workers.
 
Apart from retail products, Al Rajhi provides tailor-made solutions for customers in GLC, public sector and local corporate, multinationals, financial institutions, and SME. Mr Azrulnizam said, “We hope that our presence in Ipoh will help bridge the gap between Perak and Saudi in every way possible. Our strict Shariah compliant products suite provides the middle-east flavour for such entrepreneurs seeking opportunity to invest in businesses in that region and thereby facilitate and add value to this brewing Perak economic development landscape.”
 
To mark the inaugural launch of the first branch in Perak, Al Rajhi Bank will be relaunching its 22 branches on a nationwide scale. There will be special promotions and activities from today until end of March 2012.