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Global - February 3, 2023

Travel agency, Bank launch shariah-compliant umrah financing package

Muslims planning to go on a pilgrimage can now finance their trip in line with Islamic principles.


AmBank Group and Emraz Travel & Tours Sdn Bhd have jointly launched a financing package that is shariah-compliant for the purpose of travelling to Mecca and Medina to perform the umrah.


The new product was unveiled at Menara AmBank in Kuala Lumpur today.


The package offers an AmBank Credit Card-i customer a waiver of the management fee on his first application for the QuickCash Instalment plan for loans of up to RM15,000. The package must be purchased through Emraz.


Thereafter, the customer can apply for an AmBank Islamic personal financing facility of up to RM250,000 with flexible tenures of up to 10 years.


AmBank Group CEO Sulaiman Tahir expressed hope that the new financing solution could assist its Muslim customers who are looking for flexibility and a customised umrah experience.


“We are committed to be innovative so we can offer relevant and up-to-date shariah-compliant financial products and services to meet the needs of our customers,” he said in a statement released to the media today.


AmBank Islamic CEO Eqhwan Mokhzanee said the package was an attractive option for its Muslim customers who wish to visit Mecca and Medina to perform the #umrah.



Emraz CEO and director Zulkarnain Endut said the specialised and customisable package would help to moderate the increase in cost of umrah packages.



“This will open up more opportunities for our customers to perform the umrah with flexible financing options,” he said.


The new umrah package is opened to customers from all segments, such as civil servants, employers and self-employed individuals.


SOURCE: freemalaysiatoday



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