PETALING JAYA: The Maybank Group through Maybank Islamic Bhd today introduced Malaysia’s first-ever Social Impact Deposit, a campaign under its Islamic Fixed Deposit account (IFD-i).

Customers are offered to place a fixed deposit and, at the same time, help in extending financial relief to those whose incomes have been affected by the Covid-19 pandemic.

This special account is designed to provide support to beneficiaries comprising Maybank Islamic customers identified and assessed by the bank to be in dire need of financial assistance due to a loss of income or employment as a result of the pandemic.

Maybank Islamic CEO Datuk Mohamed Rafique Merican said this initiative was in line with Maybank’s ongoing efforts to provide assistance to its customers who are impacted by the Covid-19 pandemic.

“The impact of the virus has been devastating for so many and we believe that we are in a unique position to assist those who are still rebuilding their lives at this time. Hence, we have come up with this initiative to enable members of the community who also share the same sentiments to join hands with us.”

The public can participate in this social cause by making a minimum placement of RM1,000 into an IFD-i account for six months.

While customers will receive the prevailing board rate for their deposits, Maybank Islamic will separately contribute 0.3% a year to a special account – Social Impact Assistance Account – for every deposit made during the offer period, which started yesterday and runs until Dec 31 2020. Customers can make their placements via Maybank2u or at any Maybank/Maybank Islamic branch.

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