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RHB Islamic partners RMCD
Published on: Tuesday, April 17, 2018

Kuala Lumpur: RHB Islamic Bank Bhd is collaborating with the Royal Malaysian Customs Department (RMCD) to reduce the usage of cash and cheques through RHB Corporate MyDebit Card.

In a statement on Monday, RHB said, the cashless method, launched early this year, would enable business owners to pay local government agencies, including RMCD, Inland Revenue Board, Employees Provident Fund and Social Security Organisation, using the card.

It said the move was in line with Bank Negara Malaysia's Financial Sector Blueprint 2011-2020, which targeted to reduce cheque usage to 100 million by 2020, from 205 million cheques in 2011.

"We have achieved a 16 per cent decrease in cash and cheques received at RHB branches in 2017, and we are confident that we will be able to further reduce cash and cheque usage by year-end," said Managing Director, Datuk Adissadikin Ali.

Last year, RHB said, it recorded a total of RM1.5 million worth of cash and cheque transactions intended for government service payments and 236,749 transactions were from RMCD.

To apply for the RHB Corporate MyDebit Card, companies would need to open or maintain a current account, and payments could be made at any of the bank's 210 branches nationwide, it said.

RHB said the card would also ease the migration from traditional payment modes such as cash and cheques to cashless transactions for vehicle levy payments at the Malaysia-Singapore borders.

"A levy is currently imposed on vehicle and lorry carrying goods from Malaysia to Singapore and vice-versa," it said.

The card could also be used to make payments for goods and services tax at any RHB branches nationwide, it said. –Bernama

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