KUALA LUMPUR – Co-opbank Pertama Bhd (CBP) aims to garner RM250 million in deposit growth for its Term Deposit-i service for individuals via the recently launched “You Save, CBP Doubles It” campaign.
Chief commercial officer Mohd Faris Kamarudin said the campaign – which is exclusively for existing and potential customers – started on April 1 and will run for six months.
He said CBP is open to extending the campaign period, depending on the response.
Faris said the bank’s Term Deposit-i emphasises the concept of Islamic term deposits (tawarruq), involving the sale and purchase of shariah-approved commodities and fixed profit rates.
“It uses the murabahah tawarruq concept – the sale of commodities according to the purchase price with an agreed profit rate,” he said.
He said that CBP Term Deposit-i is a low-risk investment compared with other types of investments, adding that the product will help customers increase their term deposit investments with its fixed profit rate.
CBP Term Deposit-i also aims to encourage customers to invest wisely, especially during the current challenging economic environment. – Bernama, May 30, 2021
