Al Rajhi Banking & Investment Corporation (Malaysia) Bhd (alrajhi bank Malaysia) has entered a strategic partnership with Noor Luminous Sdn Bhd—the company behind Muslim lifestyle app TheNoor—to promote its shariah-compliant Islamic banking and finance offerings to users of the app. 

TheNoor, which is fronted and was co-founded by celebrity and entrepreneur Hjh Noor Neelofa Mohd Noor, will introduce the Bank’s—and its digital bank Rize’s—services to its audiences through advertising and promotional campaigns and an exclusive landing page. As the Official Digital Bank Partner of TheNoor, alrajhi bank Malaysia and Rize will be able to reach the app’s 2.8 million registered users spread across 197 countries.

The partnership, which was officiated at a media conference today, falls in step with the Bank’s commitment to anticipating and addressing diverse customer needs to help them achieve their objectives. As users of a Muslim lifestyle app, TheNoor’s users are always in search of shariahcompliant products and services; with this partnership, alrajhi bank Malaysia can meet that demand.

The press conference was attended by alrajhi bank Malaysia Chairman John Roger Winfield, alrajhi bank Malaysia Chief Executive Officer Arsalaan (Oz) Ahmed, Neelofa, who is also TheNoor’s NonExecutive Director, and its other founders: Executive Director Hj Mohd Izzairi Yamin and Executive Director Dato’ Hj Ahmad Tajuddin Idris.

Oz told media at the event, “We are confident that this partnership with TheNoor will enable the Bank to honor modern financial demands with our innovative and bespoke banking and finance offerings. Digitalization and the prevalence of social media is impacting how religion is practiced and experienced. With the Muslim population growing twice as fast as the global average, Shariah compliant products and services are in demand, and this partnership is poised to meet that need.

As with our digital bank Rize, we see potential here for both us and TheNoor to leverage technology and digitalization together to fulfil growing and shifting needs. Rize has been laying a new path in the& digital space that no other financial institution in Malaysia has done before, and, similarly, TheNoor is Malaysia’s first-ever Islamic lifestyle super app that provides Muslims around the world a way to facilitate the daily practice of their faith.”

In line with its vision to become the #1 Islamic innovation bank in Malaysia, alrajhi bank Malaysia’s first-of-its-kind digital bank Rize, which was officially launched on 17 February 2023, offers a reimagined banking experience powered by best-in-class technology. First-to-market, the cloudnative solution enables Rizers to conduct all their banking activities on their smartphones without the need to go to a physical branch. alrajhi bank Malaysia also partnered with more than 20 of the world’s top technology partners to implement best-in-class tech for an end-to-end digital solution. 

Neelofa said, “The partnership between TheNoor and alrajhi bank Malaysia is timely as digitalisation drives today’s economic landscape. The growing demand for Shariah-compliant products and services are growth areas that we are keen to explore, and with this strategic relationship with alrajhi bank Malaysia, we can deliver on the banking and finance aspect of that.”