HSBC Bank Malaysia Bhd, the first foreign bank to offer online payment for zakat by Muslims, is optimistic that more customers would use its Internet banking services, with the new facility.
With 25% of the bank’s customers being Muslims, the potential from this particular service (online zakat payment) is very high, HSBC Bank deputy chairman and chief executive officer, Datuk Zarir J Cama said.
“There ought to be an increase in the number of people to use the online service,” he said at the launch of HSBC’s online Zakat payment in Kuala Lumpur on March 1.
HSBC has up to a million customers and close to 30% of them uses Internet banking.
HSBC had recently added Selangor Zakat Board (LZS) and Federal Territory Zakat Collection Centre (PPZWP) to its list of online bills payment merchants.
Meanwhile, chairman of Selangor Religious Council (MAIS), Datuk Setia Mohamad Adzib Mohd Isa said Selangor collected about RM160 million in zakat payments last year and the payment of zakat through online payment was increasing. HSBC customers can now make their zakat payment via HSBC’s Internet banking at www.hsbc.com.my.
On its Islamic banking business, Zarir said HSBC started its Islamic business in 1994 but and went big in it from 2003 onwards.
He added that 14% of the bank’s total business is from Islamic banking according to its balance sheet as at Sept 30, 2006.
On the stock market performance recently, Zarir said it was reacting to the fact that it had moved up very fast.
“When something moves up too fast in (a) very short period, there is likely to be a reaction sometime (later). I think it has calmed down a little bit. It will find its own level again,” he said.
“I don’t think this is a melt down or a start of anything of that kind. It will calm itself down, we hope,” he added.