Hong Leong Islamic targets $64M debit card deposit

Hong Leong Islamic expects its debit cards to increase total deposits from RM75 million to RM200 million or US$64.13 million.

The group intends toachieve this by issuing an additional 70,000 debit cards from the 30,000 debit cards it already issued nationwide.

The debit cards will be backed by its newly-launched "Hong Leong Junior-i Reloadable Debit Card".

"With the launch of our new product today, we aim to issue an additional 70,000 debit cards until the next financial year with the total deposits to grow to RM200 million in the same period," said Hong Leong Islamic CEO Raja Teh Maimunah Raja Abdul Aziz.

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