Since PNB hold all the new application for OD ASB, this is an opportunity to unit trust holder to apply OD Unit trust from Public Bank.
Dear Mr Kamarul,
We thank you for your interest in Islamic financing.
This product is actually similar to overdraft facility under conventional banking except this product operates based on Shariah principles (Al Bai Bithaman Ajil). The purpose is actually for working capital, refinancing of assets, Investment and also personal use. However, the purpose of obtaining the Cash Line Facility-i and all activities related to it must not contravene the Shariah principles e,g gambling activities, sale of liquor,etc.
Presently the profit rate is based on fixed rate between 7.5% to 8.9% . Maximum tenure 3 years. A collateral in the form of property or Islamic Fixed Deposit is required.
For Unit Trust, we only accept Islamic UT under Public Mutual and the purchase of UT is on cash basis (EPF withdrawal is not allowed).
For further details on the requirements and to obtain the application form, you may approach any of our nearest branch.
Mohd Khalil Ismail
Manager, Product Development
Public Islamic Bank
From: Kamarul Hawari bin Ghazaliq <firstname.lastname@example.org> on 19-06-2009 02:35 PM
Subject: Email Type (Enquiry) from Kamarul Hawari bin Ghazaliq
This email is sent from Public Bank Contact Us form.
Title* : Mr.
Full Name* : Kamarul Hawari bin Ghazaliq
Mobile Phone : 017-7712224
Email Address* : email@example.com
Enquiries / Feedback
Subject* : Enquiry
Category* : Personal Banking
Type of Product / Service* : Islamic Banking
Specific Product / Service* : Cash Line Facility-i
Dear Customer Service.
I would like to know detail about your product cash line facility-i. I heard that we can apply the OD using unit trust. Can you explain a little bit detail about this.