Words of Wisdom - the Editor

Peace.
Got busy with a new project. So couldn’t add more news. Although I came across a fine article by a brother on the history and future of Islamic Banking. I was surprised to know that Islamic banking had beginnings in 1975. Wow. That’s almost as early as my birth. And I guess if there are enough like minded people any idea is bound to grow. I too used to wonder if I can invest without plunging into interest based transactions.

UK I noticed is taking some fine initiatives to promote Shariah Finance. Also came across a western brother or atleast who calls Muslims his brothers and sisters but laughs cynically at the DOW Islamic index as 'bending backwards' to accommodate those guys who have four wives and cut of peoples hands. O well some people just don't get it, do they?

Tuesday, July 8, 2008

Bank Islam To Set Up 25 New Branches Within Three Years

KUALA LUMPUR - Bank Islam Malaysia Bhd plans to set up 25 new branches within the next three years, said managing director Datuk Zukri Samat Wednesday.
"The bank, which currently has 90 branches, will allocate between RM500,000 and RM600,000 for each branch, depending on the location," he told reporters after the signing of a strategic partnership agreement with Amanah Raya Bhd here Wednesday.
Under the partnership, Amanah Raya will be the will writer, custodian and executor, while the Bank Islam will sell and distribute the services.
Zukri said the bank expected to generate a revenue of RM1.5 million from will writing service by year-end and attract 1.5 million customers.
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