Doesn’t that also make it your worst enemy? Why’d you think that a bank that lost so much money is trying to focus hard on getting you to sign up with their plastic membership programme?
Nope, not the reward points. Credit card is one of the fastest and most profitable way for banks to quickly enslaved their customers with high interest rate.
Business Times on Bank Islam’s Credit Card Plans…
For the financial year ended June 30 2005, Bank Islam registered a RM480 million loss on the back of provisions of RM775 million and total non-performing loans (NPLs) of RM2.2 billion.Meanwhile, Bank Islam plans to increase its Platinum credit card holders to 3,000 by the end of its financial year ending June 2007, through strategic tie-ups with government agencies and institutions of higher learning.
Currently, the country’s oldest Islamic bank has only 300 Platinum cards in circulation.
Say “NO” to Plastic!
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