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Kuwait Finance supports plan
11/07/2007 The Star By Hanim
Adnan
KUALA LUMPUR: Kuwait Finance House (M) Bhd expects its newly launched
Malaysia My Second Home (MM2H) Hijrah-i service programme to attract strong
participation from foreigners.
Managing director K. Salman Younis said the bank had received enquiries for
the programme, particularly from the Gulf Cooperation Council (GCC)
countries, Pakistan, India, South Korea and Japan.
“No sales target has been set but we will promote this programme
aggressively by capitalising on Kuwait Finance's strong global network and
its international branches,” he told reporters after the official launch by
Tourism Minister Datuk Seri Tengku Adnan Tengku Mansur yesterday.
Kuwait Finance is the first foreign bank in Malaysia to offer financial
services to support the MM2H, a Malaysian Government initiative that allows
foreign nationals to live in Malaysia for an extended period of time.
MM2H offers a 10-year multi-entry renewable visa that allows foreign
nationals to reside as well as invest in and capitalise on the country’s
booming economy.
Under Kuwait Finance's MM2H programme, Salman pointed out that customers
would have full access to banking and financial facilities during their stay
in Malaysia.
From left: K. Salman Younis, board member Mohamed Ismail Mohamed Shariff and
Datuk Seri Tengku Adnan
In addition, accommodation, healthcare, education, leisure, insurance and
travel requirements will be packaged into the programme.
“We also render assistance to participants in expediting the process of
obtaining their visa,” Salman added.
Earlier, Tengku Adnan said about 1,728 participants were accepted into MM2H
programme last year.
He said Malaysia was a choice destination for foreigners looking for
long-stay programmes in the region.
Apart from popular destinations like Spain, Mexico and Turkey, Tengku Adnan
said Malaysia faced competition from Thailand, Indonesia and the Philippines
for similar long-stay programmes.
He said both new MM2H participants and existing foreigners residing in
Malaysia should take advantage of the attractive programme due to the
country's general low cost of living but high quality lifestyle. |
