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OCBC Al-Amin
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Frequently Asked Questions (FAQs)
General
  • Q1. What is OCBC Al-Amin?
    •   OCBC Al-Amin Bank Berhad (818444-T), or commonly known as OCBC Al-Amin, is a wholly-owned Islamic banking subsidiary of OCBC Bank (Malaysia) Berhad (OCBC Bank). It begins operations on 1 December 2008, taking over from the Islamic “window” that OCBC Bank has been operating for the past 13 years. In effect, OCBC Bank’s Islamic banking customers can now perform their banking duties through both OCBC Bank and OCBC Al-Amin branches. The first OCBC Al-Amin branch, which begins operations on 1 December 2008, will be located at A-19-G, Blok A, Jaya One, 72A, Jalan Universiti, 46200 Petaling Jaya, Selangor.
      		 
  • Q2. What is the meaning of Al-Amin?
    •   Al-Amin is an Arabic term which means trustworthy. This is indicative of OCBC Al-Amin’s resolve to continue to provide customers with products and services that are true to Shariah principles.
      		 
  • Q3. What is the difference between OCBC Bank and OCBC Al-Amin?
    •   OCBC Al-Amin is a full-fledged Islamic bank which provides Shariah-compliant financial solutions while OCBC Bank provides conventional banking products & services. All OCBC Al-Amin customers may continue to perform their Islamic banking transactions via OCBC Bank branches as well.
      		 
  • Q4. Can non-Muslims bank with OCBC Al-Amin?
    •   Most certainly! A common misconception is that Islamic banking is meant only for Muslims. This is far from the truth. While Islamic banking is based on Shariah principles it remains open to all, and has been widely accepted by people from various walks of life.
      		 
  • Q5. When will OCBC Al-Amin be operational?
    •   OCBC Al-Amin commences operations on 1 December 2008 with the establishment of our first branch at Jaya One, A-19-G, Blok A, Jaya One, 72A, Jalan Universiti, 46200 Petaling Jaya, Selangor.
      		 
  • Q6. How many branches does OCBC Al-Amin have?
    •   On 1 December 2008, we will have one branch and we expect to add more branches. However, we would like to highlight that OCBC Al-Amin customer may use ANY OCBC Bank branch nationwide to perform their banking obligations.
      		 
  • Q7. Where can I obtain information about OCBC Al-Amin?
    •   You may obtain information about OCBC Al-Amin at www.ocbc.com.my or by calling our customer service officers at:

      Personal Banking: 1300 88 0310 or 03-83149310 (if you are calling form outside Malaysia).

      Business Banking: 1300 880255 or 03-83149090 (if you are calling form outside Malaysia).
      		 
  • Q8. How do I know that OCBC Al-Amin is truly Shariah-compliant?
    •   OCBC Al-Amin’s products and services go through a rigorous process of review by
      its Shariah Committee, Shariah unit, and internal departments to ensure that they are Shariah-compliant. You can be assured that OCBC Al-Amin’s products and services is Shariah-compliant in all matters.
      		 
 
Products and Account Information
  • Q9. I am currently an Islamic Banking customer of OCBC Bank. Do I need to open a new account at OCBC Al-Amin?
    •   No. You do not need to do anything to transfer your Islamic banking account from OCBC Bank to OCBC Al-Amin; this is done automatically (except for Leasing-i accounts which will remain with OCBC Bank. Existing Leasing-i customers will receive notification concerning their new account number in due course).
      		 
  • Q10. What will happen to my existing Current Account-i and Savings Account-i numbers?
    •  

      There will be no change to your existing account number(s).
      		 
  • Q11. What will happen to my existing Savings Account-i passbook?
    •  

      Your savings account-i passbook can still be used.  There is no need to change it.
      		 
  • Q12. Are my deposits insured by PIDM at OCBC Al-Amin like it is with OCBC Bank?
    •   Yes, the same rules governing deposit accounts at OCBC Bank apply to OCBC Al-Amin as well.
      		 
  • Q13. I have a Current Account-i with OCBC Bank. May I continue to use the existing cheque book?
    •   Yes. You can continue using your existing cheque book until 30 June 2009.
      		 
  • Q14. What will happen to my Home Financing-i/Cash Financing-i account? Do I have to sign a discharge from OCBC Bank and charge to OCBC Al-Amin?
    •   No. You may maintain the Home Financing-i account at OCBC Bank and need not sign any discharge from OCBC Bank to charge to OCBC Al-Amin.
      		 
  • Q15. I have a Home Financing-i /Cash Financing-i account with OCBC Bank. Do I have to settle this facility in full and apply for a new facility?
    •   No. You may continue to enjoy this facility on the same terms and conditions. You can also, if you wish, apply for a new facility after one year of the disbursement of your Cash Financing-i facility.
      		 
  • Q16. I have both OCBC Bank and OCBC Al-Amin accounts. May I make enquiries about either at the other’s branch?
    •   Yes. The existing network of OCBC Bank branches serves as an extension to the OCBC Al-Amin network and vice versa. Accordingly, OCBC Al-Amin customers may perform all transactions at the existing OCBC Bank branches. However, OCBC Bank customers may perform only selected transactions at OCBC Al-Amin, i.e. those transactions that are not deemed to contravene Shariah principles.
      		 
  • Q17. What happens to customers' existing Islamic deposits or General Investment Account-i (GIA-i) at OCBC Bank?
    •   There will be no change to this. The transfer of your Islamic deposits or GIA-i to OCBC Al-Amin Bank will be on the same terms and conditions and will not be deemed to be new placement(s) with OCBC Al-Amin.
      You can continue maintaining these deposits or GIA-i at the existing OCBC Bank branch.
      		 
  • Q18. What happens to customers' existing Islamic deposits at OCBC Bank?
    •   The deposits are not affected in any way. You can continue maintaining these deposits at the existing OCBC Bank branch.
      		 
  • Q19. Will OCBC Al-Amin offer credit card services?
    •   Not in the immediate future, however we hope to make these available in due course.
      		 
  • Q20. Can I still use my OCBC Islamic ATM card(s), ATM PIN numbers, Internet Banking facilities and Internet Security devices?
    •   Yes. There is no change and you may continue using them.
      		 
  • Q21. What are the benefits I will receive if I apply for depository and investment products?
    •   OCBC Al-Amin depository and investment products offer peace of mind. With our depository products, the Bank ensures safe custody of your money; in addition, you stand the chance to earn attractive dividends or hibah (if any).
      		 
 
Services
  • Q22. May I maintain my existing OCBC Islamic accounts/facilities at the current OCBC Bank branch of account and perform transactions there?
    •  

      Yes.
      		 
  • Q23. I have both conventional and Islamic products. Can I perform conventional transactions at any ATM/Cheque Deposit Machine/Cash Deposit Machine at OCBC Al-Amin branches?
    •   Yes. Conventional banking transactions can be performed at any OCBC Al-Amin branches and ATM/Cheque Deposit Machine/Cash Deposit Machine.
      		 
  • Q24. Can I submit my conventional Trade Documents to OCBC Bank via an OCBC Al-Amin branch?
    •   Yes, OCBC Al-Amin can be used as delivery channel for submission of any trade documentation to Trade Finance Operation subject to prior arrangements.
      		 
  • Q25. I have both conventional and Islamic credit facilities. Can I make my Islamic financing instalment payments via OCBC Bank branches and my conventional instalment payments via OCBC Al-Amin branches?
    •   A. Yes, all these transactions can be performed at either OCBC Bank or OCBC Al-Amin branches.
      		 
  • Q27. Will I be charged an additional fee for conducting OCBC Al-Amin banking transactions at OCBC Bank branches?
    •   No, there are no additional charges for counter, ATM, Cheque Deposit Machine or Cash Deposit Machine transactions at OCBC Bank branches.
      		 
  • Q26.Do OCBC Al-Amin ATM machines have the MEPS withdrawal facility?
    •   As with OCBC Bank, OCBC Al-Amin does not offer MEPS services via our ATMs. However, we do allow cash withdrawals via Proprietary ATM, HOUSe ATM Network with three locally incorporated foreign banks namely HSBC, UOB and Standard Chartered, any other banks’ ATM that display VISA PLUS logo and OCBC Singapore’s ATMs.
      		 
 
 
 
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