Sabah Credit Corp forays into Islamic banking

AmIslamic Bank Berhad and Sabah Credit Corporation signed a US$31.9 million Islamic Banking Facilities agreement.

Signing on behalf of AmIslamic Bank Berhad was Chief Executive Officer, YBhg Datuk Mahdi Murad while signing on behalf of Sabah Credit Corporation was Chief Executive Officer YBhg Datuk Vincent Pung. Witnessing the ceremony were YAB Datuk Seri Panglima Musa Hj. Aman, Chief Minister of Sabah Cum Minister of Finance, and YBhg Tan Sri Azman Hashim, Chairman, AmBank Group.

The signing took place in Kota Kinabalu in conjunction with Sabah Credit Corporation’s foray in Islamic banking and sees AmIslamic Bank as the SCC’s first Islamic banker.

 “We are grateful for this opportunity accorded to us to work together with Sabah Credit Corporation towards the launching of its inaugural Islamic Banking Window. We are indeed very pleased to be associated with Sabah Credit Corporation – acting as the catalyst for the Sabah state’s socio-economic development,” said Tan Sri Azman Hashim, Chairman, AmBank Group said.

The AmBank Group hopes to further enhance its services to SCC by leveraging on its dedicated Financial Institutions Group’s  platform and expertise.

The FIG Department was established in late 2009 to deliver strategic and customised financial solutions to clients, providing financial and credit services.