Kuala Lumpur, 9 August 2010 - Kuwait
Finance House (Malaysia) Berhad (KFHMB), the country's first foreign Islamic bank, today entered into an Automobile End-Financing Agreement with Nasim Sdn Bhd (Nasim), the official distributor of the peugeot marque in Malaysia. Through the collaboration, Nasim's customers will enjoy access to swift auto financing facilities based on Shariah concept at attractive rates for the purchase of their peugeot cars. The agreement was signed by Nasim's Chief Executive Officer, Encik SM Nasarudin SM Nasimuddin and Chief Executive Officer of KFHMB, puan Jamelah Jamaluddin.
"We are pleased to enter into this partnership with KFHMB. With this partnership, we will be able to extend the range of financing options offered to peugeot customers to include these Islamic financing packages from KFHMB which offer attractive rates," said Encik SM Nasarudin, who is also the Joint Group Executive Chairman of the Naza Group of Companies.
"Our collaboration with Nasim demonstrates the distributor's trust in KFHMB, and in the strength of Islamic finance products. We aim to make the Bank's products more attractive to the consumers by adding value through reducing the cost of ownership, bundling financing products with other KFHMB products and services, and through other creative solutions," explained puan Jamelah. "This year marks KFHMB's Fifth Anniversary in Malaysia. The Bank first adopted a niche strategy of rolling out its products in phases, starting with corporate and investment banking, commercial banking and finally, retail and consumer banking. Moving forward, our long term plan is to further grow the Bank's retail business to complement its present business," she added.
The KFH's auto-financing product is valid for all existing and upcoming peugeot models available. KFHMB representatives will be present at Nasim showrooms nationwide to address queries on all ranges of financing packages, particularly on the auto-financing facility. In addition, KFHMB will also be engaging Nasim dealers to participate in the collaboration.
The initiative will enable KFHMB to tap into the peugeot market. Nasim, and by extension Nasim's customers, will benefit from the more focused service offered by the Bank. Both partners will be able to cross leverage and jointly run marketing and promotional events, and develop innovative financing packages to better meet the market demand. In the long run, Nasim will benefit from KFHMB's expertise in total Islamic financing solutions.
About Kuwait Finance House (Malaysia) Berhad
Kuwait Finance House (Malaysia) Berhad (KFHMB) commenced operations on 8 August 2005 and is a wholly-owned subsidiary of Kuwait Finance House K.S.C. (KFH). A full-fledged Islamic bank, KFHMB has a paid-up capital of USD650 million and USD100 million in Tier II capital. KFHMB is the regional headquarters of Kuwait Finance House in the Asia-pacific and has seven BRanches in Malaysia. For further information on the products and services, please contact the Customer Service Centre at +603 2056 7777 or log into the website at www.kfh.com.my.
About Nasim Sdn Bhd
Nasim Sdn Bhd became the sole importer and distributor of peugeot vehicles in Malaysia in January 2008 and has steadily grown the peugeot BRand into the best selling French marque and second best selling European BRand in Malaysia as of end-2009. Nasim has launched several award-winning models including the 407, 308 Turbo and 3008 and was recently awarded Best French Automotive BRand Custodian by the Malaysian-French Chamber of Commerce and Industry. To-date, Nasim has 20 outlets nationwide comprising 13 BRanches and seven dealers. For more information, please call 1-800-88-6292 or visit www.peugeot.com.my.
For media enquiries, please contact:
Hajjah Rumaizah Dato' Abu Bakar
Head, Media Relations & Communications
Kuwait Finance House (Malaysia) Berhad
DL : +603 2054 7550
Mobile : +6012-6876300
Fax : +603 2055 7815
Email : email@example.com
Senior Manager, Corporate Communications and principal Liaison
Nasim Sdn Bhd
Tel :+603 2617 7999
Mobile:+012 320 7319
Fax :+603 2681 3188
Email : +firstname.lastname@example.org
© press Release 2010