RHB Islamic Bank targets $1.28b in wealth management by 2026

Its new Visa multi-currency card and new Islamic wealth portal will help achieve this goal.

RHB Islamic Bank is eyeing RM6b (approximately $1.28b) in Islamic wealth management by 2026.

The Malaysian bank said that its services of RHB Visa multi-currency debit card, Islamic unit trust products, and estate planning and trustee propositions as driving forces to achieve its goal.

The bank has also launched a new Islamic Wealth Management portal, a one-stop digital platform providing Malaysian customers access to an extensive array of Islamic wealth management solutions and advisory services online.

Customers can connect with accredited Islamic wealth advisors, who in turn can craft bespoke solutions for their individual needs based on their financial journey.

There is also an interactive filter to help customers build their investment portfolios based on individual criteria and needs.

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RHB Islamic CEO and managing director Dato’ Adissadikin Ali, highlighted the value of Islamic wealth management as a gateway for a sustainable financial future rooted in “integrity, ethics, and the betterment of society.

“This is why RHB Islamic truly believes in the value of Islamic Wealth Management – managing and growing wealth in a structured and ethical manner. Hence, our wealth management proposition comprising products and services covered under the Islamic concept as a whole is suitable for everyone regardless of religious background or where they are in their financial journey,” he said.

Apart from the new wealth portal, RHB Bank and RHB Islamic Bank have also recently launched its enhanced RHB Multi Currency Visa Debit Card/i, which offers a 0% conversion currency fee and supports 32 foreign currencies, including the US Dollar, Euro, Japanese Yen, Pound Sterling and Singapore Dollar at the MATTA Fair 2023.

(US$1 = RM4.69)