Maybank Islamic Ikhwan Card Launch

Maybank Islamic Ikhwan Card is a first Islamic Credit Card from Maybank. it formulated based on Islamic Law and Shariah Principle of Bay’ Al’ Inah (sale with immediate repurchase) which govern installment payments over a fixed period.

It works the same as any credit cards. It is accepted nationwide, can be used for everyday spending on anything from meals and petrol to paying for a holiday. The profit rate is the same as the other credit card ie 1.5% a month @ 18% per annum.  The cash withdrawal fee is 5% of the amount withdrawal @ a minimum of RM10, whichever is higher.

The differences between Maybank Islamic Ikhwan Card and Conventional credit card are:

• In Islamic Banking, the profit rate is deemed to be non-compounding as compared to Conventional Credit Card.
• All transactions under Maybank Islamic Ikhwan Card should be in line with the Shariah principles and cannot participate in businesses prohibited by Shariah such as gambling, liquor, etc.
• Maybank Islamic Ikhwan Card governs the concept of economic justice and avoid interest or riba in their banking transactions.

The value propositions for MAYBANK Islamic Ikhwan Card are:

• Enjoy 1X TreatsPoints for Visa and 2X TreatsPoints for American Express
• FREE Annual Fee subject to 12 transactions per year, per card type
• Earn 3X TreatsPoints for selected Etiqa Takaful products from 1st  September 2008 till  28th  February 2009.
• Hassle free with Touch ‘n Go Zing Card. Whenever the account balance drops to RM50, it will automatically upload RM100 to MAYBANK Islamic Ikhwan Card with RM2 reload fee.
• FREE Auto Assist – for purchase or renewal of car insurance with Etiqa.
• Automatic Travel Personal Accident (ATPA) Takaful

This Maybank Islamic Ikhwan Card Carries  5 additional values:

• Charity (Sadaqah) – Donate through your Islamic Ikhwan card or by Treats Points to selected charity organizations
• Traveling (Ziarah) – Tour programme to Islamic-historical places, middle east countries
• Protection (Takaful) – Special packages on Takaful insurance
• Savings (Al-Tawfir) – Balance Transfer and Special EzyPay deals all year round
• Sharing (Musharakah) – Earn TreatsPoints with Ikhwan and you can enjoy privileges and redeem products for you, your friends and family

Plus, other benefits that you will enjoy:

You will also enjoy all benefits that Conventional cardmembers are enjoying including the Insurance coverage.

• Visa Wave – Make purchases speedier at participating merchant outlets.
• Auto Paybills – Bills are automatically charged to the Maybank ISLAMIC Ikhwan Card upon enrolment.
• Balance Transfer Plan – Transfer outstanding balance into your MAYBANK Islamic Ikhwan Card from other credit cards and enjoy savings.

6 months Plan  – 0.5% per month   – RM1,000
9 months Plan  – 0.75% per month  – RM1,000
12 months Plan – 1.0% per month   – RM1,000
24 months Plan – 0.375% per month – RM2,000
36 months Plan – 0.413% per month – RM2,000

• Maybankard Treats – Special deals and great rewards from dining, shopping, golf to health treats all year round.
• Treats On-Chip – Earn e-Coupons to redeem treats and receive discounts and items at participating merchants.
• TreatsPoints HotSpot – Use the TreatsPoints to redeem gifts on-the-spot at over 300 Hotspots Locations nationwide.
• Maybankard Travel Treats & Enrich Frequent Flyer Program – Enjoy discounted rates on all business and leisure travel needs. Also earn TreatsPoints to redeem free air travel with Malaysia Airlines Enrich frequent flyer program.
• M2U Mobile Banking – Cardmembers can securely access, view credit card balances or pay bills to over 500 corporations with the MAYBANK Islamic Ikhwan Card while on the move, anytime and anywhere

This Card offers 3X Points for selected Etiqa Takaful Product, what are the types of products that offer 3X points?

You can enjoy 3X Points for :-

• Takaful Amal – it benefits you and your loved ones by offering you a protection plan that suits your budget, age and most of all, meets your needs and provides worry-free days to your nearest and dearest in case the unexpected occurs.
• Takaful Alif – places your children’s future first by providing you the opportunity to plan and save for their higher education.
• Takaful Privilege PA – offers you total peace of mind 24-hours a day wherever you are without compromising your financial status with a comprehensive personal accident plan that covers you and those you love.
• Takaful Insan – helps you fulfill your responsibilities by providing your beneficiaries or you with a protection plan that offers a fixed and regular monthly income should the unexpected occur.
• Takaful MediRider – not only assures you immediate medical care during an emergency but better treatment choices and greater peace of mind. You only pay a minimal contribution for coverage up to age 75, one of the longest periods available. Applicable with any other above product except for Takaful Amal and Takaful Insan.

***The above products must be charged to MAYBANK Islamic Ikhwan Card to entitle for 3X TreatsPoints.

Anybody can apply for this card as long as the monthly salary is RM2,500.00 @  RM30,000 per annum. What you can do is to sign-up and fill up the application form and enclose the

relevant documents to our nearest branch or Head Office at Menara Maybank.

Documents required?

• Copy of NRIC (both sides) or passport, Supplementary applicant’s included
• Latest BE form with official tax receipt
• Latest 2 months salary slips
• Latest 3 months savings account activity / current account statements
• For a self-employed, copies of Business Registration and latest 3 months Bank Statements
• For Expatriates: A Letter from employer confirming duration of employment contract in Malaysia and applicant must be a Maybank account holder. 
• For Graduates: Copy of Degree Certificate/ Professional Qualification and employment letter or 1 month salary slip

If you have been a Principal credit / charge Cardmember for at least 1 year of a card issued in Malaysia and valid worldwide, just enclose :

• Copy of NRIC (both sides) or passport, including Supplementary applicants
• Supplementary applicants copy of credit / charge card (both sides)

This information shared by creditcard2u for a credit card deals. If you have any enquiries, please email us at mail@creditcard2u.net . enjoy your reading!