KUALA LUMPUR: CIMB Islamic Bank Bhd has committed RM1 million per year, renewable annually for up to 3 years for the conservation efforts of Setiu Wetlands, Terengganu.
The three-year project with a total potential commitment of RM3 million, is in collaboration with World Wide Fund for Nature Malaysia (WWF Malaysia).
The contribution is made possible through CIMB Islamic’s first green Savings Account product, EcoSave Savings Account-i (EcoSave) through which the bank commits 0.2 per cent of the total average portfolio balance of the account to environmentally-focused projects and activities.
CIMB Islamic chief executive officer Ahmad Shahriman Mohd Shariff said EcoSave Savings Account-i reflects CIMB Islamic’s priority on sustainability and responsible banking.
"Apart from eco-friendly features like no passbook, and paperless transactions, this account also boasts a unique, differentiating feature whereby 0.2 per cent of the total portfolio average balance will be channeled towards green initiatives.
"We look forward to continued interest and take up of EcoSave, which will further empower our green initiatives for Mother Earth," he said in a statement today.
The conservation project with a focus on Setiu Wetlands in Terengganu that represents one of the country’s most important wetland ecosystems, is expected to generate considerable positive and sustainable impact to the local economy, community and environment.
This is CIMB’s third collaboration with WWF Malaysia on strategic conservation projects, subsequent to the project in Ulu Muda, Kedah, and in Ba’ Kelalan and Long Semadoh in Sarawak.
"I am encouraged to see a building up of momentum in the finance sector by supporting and demonstrating leadership for environmental protection, nature conservation and enhancement of people’s wellbeing," WWF Malaysia chief executive officer Sophia Lim said.
"Through this collaboration, CIMB Islamic has yet again displayed exemplary leadership in championing a range of sustainability efforts around strategic green initiatives aimed at safeguarding nature and reducing environmental impacts," she further said.
Customers can choose to open an EcoSave Savings Account-i at any CIMB Islamic branch nationwide, with a minimum deposit of RM250.
Other than the indirect contribution towards green initiatives, there is a monthly RM5 cash incentive for customers who maintain a monthly average balance of RM5,000, without any over-the-counter transactions in the month.