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Notification on change of underlying Shariah concept from Wadi’ah Yad Dhamanah to Tawarruq
Kuala Lumpur, 3 July 2018
Dear Valued Customer,
Thank you for choosing us as your banking partner and for your continued support.
We wish to inform you that the underlying Shariah concept governing deposit products as per listed in Appendix 1 will be changed from Wadi’ah Yad Dhamanah (Safekeeping) to Tawarruq (arrangement which consists of two or multiple sale and purchase transactions) with effect from 25 July 2018.
Rest assured, this change exercise will be carried out seamlessly and at no extra cost. You will continue to enjoy the existing product benefits including deposit protection by Perbadanan Insurans Deposit Malaysia (“PIDM”). We are pleased to further inform that your existing account numbers will remain the same. The terms and conditions are made available on our website at www.hlisb.com.my.
Should you wish to explore other options or do not agree to this change, please visit the nearest Hong Leong Islamic Bank or Hong Leong Bank before the effective date for assistance. Otherwise, it shall be taken that you have agreed to the change of the underlying Shariah concept for the deposit as per listed in Appendix 1 and accepted the terms and conditions accordingly.
A list of Frequently Asked Questions (FAQs) designed to facilitate your understanding on this change is enclosed. For further enquiries, please contact Hong Leong Contact Centre at 03-7626 8899. Alternatively, you may visit the nearest Hong Leong Islamic Bank or Hong Leong Bank.
The Management
03 July 2018
BELOW ARE THE PRODUCTS WHICH ARE INCLUDED IN THE CONVERSION FROM WADI’AH YAD DHAMANAH i TO TAWARRUQ CONCEPT EXERCISE;
Existing Product Name |
New Product Name |
|---|---|
| Current Account: | |
1. Wadi’ah Foreign Currency Current Account-i |
1. Hong Leong Foreign Currency Current Account-i |
2. Hong Leong Current Account-i 3. Hong Leong Basic Current Account-i 4. Middle East Current Account-i 5. Current Account Rental Proceed 6. Current Account Contract Proceed 7. Hong Leong SME Current Account-i 8. Hong Leong SME Current Account-i (PPP) 9. Hong Leong BBA Current Account-i 10. Hong Leong Current Account-i (E-DIRECT AG) 11. Hong Leong Current Account-i (E-ISLM BK G) 12. Hong Leong Current Account-i (E-DIRECT BG) 13. Hong Leong Current Account-i(E-CR ENHANCER) 14. Hong Leong Current Account-i (E-ENHANCER) 15. Hong Leong Current Account-i (E-CR ENH IS) 16. Hong Leong Current Account-i (E-NEW P GS) 17. Hong Leong Current Account-i (E-NEW ENT F) 18. Hong Leong Current Account-i (E-NEW ENT F)-BNM 19. Hong Leong FRFGS Current Account-i 20. Hong Leong NEF2 Current Account-i 21. Hong Leong NEF2 Current Account-i (PPP) 22. Hong Leong FSMI2 Current Account-i 23. Hong Leong FSMI2 Current Account-i (PPP) 24. Hong Leong WCGS Current Account-i 25. Hong Leong SSGS Current Account-i
|
No changes |
Short Term Deposit |
|
1. Wadi’ah Acceptance and Placement-i |
1. Short Term Commodity Murabahah Placement-i (STCMP-i)
|
Media Contact
Group Corporate Affairs & Public Relations
Hong Leong Bank Berhad
DID: 03-2081 8888 ext 61916
Email: capr@hongleong.com.my
