This article first appeared in The Edge Financial Daily on July 6, 2018 - July 12, 2018

KUALA LUMPUR: OCBC Al-Amin Bank Bhd has set up its first Islamic banking branch in Klang, Selangor, where the increasingly affluent community there indicates a vast potential for banking growth.

The bank said in a press statement yesterday the three-storey branch — relocated from its original “Xpres” branch in Ampang Park, Kuala Lumpur — is built to augment the bank’s position in Selangor by offering a comprehensive range of Islamic banking products and services.

OCBC Al-Amin chief executive officer (CEO) Syed Abdull Aziz Syed Kechik said the opening of the branch marks a significant milestone in OCBC’s journey towards providing the community with even greater sophistication in Islamic banking.

“With the opening of our first branch here in Bandar Botanic in the vibrant Klang, we hope to raise the bar for Islamic banking products and services for the community at large and also the affluent segment through our Premier Banking Centre,” he said.

OCBC Al-Amin’s presence at the Klang banking scene dates back to 1940, when its parent company OCBC Bank (Malaysia) Bhd set up its conventional banking operations.

According to Syed Abdull Aziz, the overall OCBC Premier Banking numbers have shown a stronger connection between the banking group and the affluent community. As such, its new 9,000-sq-ft branch comes complete with a 2,000-sq-ft Premier Banking Centre and over 1,000 safe deposit boxes.

Previously, the only available Premier Banking Centres for Islamic banking were those shared with conventional banking entities and the ones in Skudai (Johor), Kota Kemuning (Selangor) and Sibu (Sarawak).

There will also be a business banking centre serving corporate and small and medium enterprises, besides fully secured 24-hour electronic banking services featuring automated teller machines and cash or cheque deposit machines, among others. OCBC Bank Malaysia has 46 branches nationwide, of which 33 are conventional, and 13 are OCBC Al-Amin branches.