Hong Leong Islamic Bank Signs-on as GST Collection Bank

Hong Leong Islamic Bank Berhad (“HLISB”) signed an agreement on 25 March 2015 with Royal Malaysian Customs in relation to its appointment as one of the Goods and Services Tax (“GST”) collection banks.

As a collection agent, HLISB would provide hassle free services to banking customers for GST collection which is scheduled to be implemented on 1 April 2015. Initially offered over the counter GST and internet banking collections, this service would be further expanded to HLISB’s self-service terminal network in the future.

“We are excited to be one of the banks chosen to represent the Malaysian banking industry as GST collection banks. Our systems are in place and we are confident in meeting expectations,” said Raja Teh Maimunah, Managing Director and Chief Executive Officer of HLISB.

She added that the service forms an integral part of HLISB’s strategic direction concerning the development of its transactional and digital banking services.

Signing on behalf of the Royal Malaysian Customs was its Director General, YBhg Dato’ Sri Khazali bin Hj. Ahmad.