KUALA LUMPUR (May 9): Bank Islam Malaysia Bhd (BIMB) plans to hand over 30 houses under the Asnaf Personal Financing-i facility scheme this year, and will also continue to work towards expanding the scheme nationwide, together with interested State Islamic Religious Councils. Chief executive officer Mohd Muazzam Mohamed said the bank pioneered a homeownership financing scheme for the asnaf group (those who are eligible to receive zakat payments) in July last year. The scheme was implemented via a joint venture with the State Zakat Management Agency, with both parties funding half of the house financing. "Through this scheme, asnaf with a fixed income of below RM1,500 per month can own a house built on their land or with the landowner's permission. He said BIMB started the Bank Islam Housing Aid Programme in 2008 to provide housing for the most affected and deserving group.

Source: The Edge Markets May 09, 2021 08:26 UTC