Bank Simpanan aims for 10% more GIRO-i accounts this year

Bank Simpanan Nasional (BSN) is aiming to get 10% more new accounts for its BSN GIRO-i this year, said BSN Islamic banking head Ahmad Noh Jeni.

“We are aiming for the same figure as what we achieved last year (2011).

“Currently, we have two million account holders for this BSN GIRO-i,” he said at a press conference on yesterday.

Ahmad said the bank would also make an extra payment of 2% on profits earned in 2011 to all BSN GIRO-i account holders based on average balance in 2011 starting from Feb 16, 2012.

“The payment is based on profit sharing concept called Mudharabah where it does not limit the profit payment towards our clients.

“This is the second time we are making this kind of payment after doing it in 2009 where the same percentage amount was given to our clients,” he said.

He said the bank had opened 71 Islamic branches all over the country with all the branches in Kelantan fully Islamic.

“BSN Islamic banking is not limited only to Muslim but also to non Muslims. For example, 90% of BSN Ahsan Warga Emas Investment account holders are Chinese,” he said.

He also said BSN offered many attractive prizes to its Sijil Simpanan Premium (SSP) savers for 2012 where more than 37,000 prizes valued more than RM14mil were up for grab as compared to more than 30,000 in 2011.

BSN, he said, would like to announce that SSP followed Shariah principles as approved by the Malaysia Fatwa Council on Feb 14.

BSN now has 389 branches with more than eight million customers in Malaysia and a savings amounting to RM10.8bil.

Forex trading 'haram', says National Fatwa Council

Council chairman Tan Sri Dr Abdul Shukor Husin said forex trading was against Islamic law and created confusion among Muslims.

“A study by the committee found that such trading involves currency speculation, which contradicts Islamic law.

“For that reason, the National Fatwa Council has decided that it is haram for Muslims to be engaged in such trading,” he told reporters after chairing the Council’s 98th conference here Wednesday.

Abdul Shukor said Muslims should not engage in forex trading as there are many doubts about it and it involves individuals using the Internet, with uncertain outcomes.

“Other forms of trading in foreign currencies, such as by money changers or between banks, are permissible, as they do not involve currency speculation or uncertain outcomes,” he said.

He said the meeting also ruled that it was permissible for Muslims to invest or save in the Premium Saving Certificate scheme managed by Bank Simpanan Nasional (BSN).

He said the decision was reached after the committee was satisfied with the briefing by the Bank Negara syariah panel on the scheme’s implementation.

“At first we had doubts about the scheme’s implementation, but we were satisfied after the trading system was changed into the Islamic concept of Mudharabah,” he said. – Bernama