(File pix) Photo shows people queueing at a Bank Islam counter at Kompleks Tabung Haji, Kuala Lumpur. Bank Islam Malaysia Bhd (BIMB) today launched Sadaqa House, its latest agenda for social finance initiatives. Pix by Saifullizan bin Tamadi

ALOR STAR: Bank Islam Malaysia Bhd (BIMB) today launched Sadaqa House, its latest agenda for social finance initiatives.

Chief Executive Officer, Khairul Kamarudin said the initiative allows contribution from the public to be made through the bank’s digital crowdfunding collaboration with Ethis Ventures Sdn Bhd and GlobalSadaqah.com, to be channelled towards realising social finance projects for underserved sectors such as healthcare, education and entrepreneurship.

“In addition, the public may contribute to the projects using Bank Islam’s existing channels such as Internet banking, transact-at-palm (TAP) mobile Banking-I and Bank Islam credit card,” he told the media during the launch of Sadaqa House at the Financial Carnival (North) 2018, organised by Bank Negara Malaysia here.

Locally and globally, the public may donate any amount of money into the Sadaqa House fund account, and Bank Islam undertakes to match the raised amount at the rate of 1:1 to a maximum of RM500,000.

Khairul said that for the first phase, the bank will be collaborating with a few non-governmental organisations as strategic partners in undertaking projects, including the Institut Jantung Negara Foundation, Yayasan Sultanah Bahiyah and Technology Park Malaysia.

He said Bank Islam is bringing technology into its shariah solution, while delivering services that are more aligned with the current digital trend.

“This initiative is part of the bank’s digital journey to ensure convenience, efficient servicing and high impact with ease of implementation,” he said. -- Bernama