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Announcement

Update of Terms & Conditions for CashVantage Financing-i

Dear Valued Customers,

Please be informed that the Terms and Conditions (T&C) for CashVantage Financing-i has been updated and shall take effect from 1 January 2022 onwards.

A tabulation of the revised clauses are set out in the table below:

Clause No. Revised Clauses

 General
 
Customer (as particularised in Part B of the CashVantage Financing-i Application Form) applies for the Facility on, and agrees to be bound by this Terms and Conditions document and any variation thereof or addition thereto as Alliance Islamic Bank Berhad (“Bank”) may prescribe from time to time upon notice:

7
 
The Bank reserves the right to vary the Terms and Conditions, fees and charges applicable to the Facility by providing at least twenty one (21) calendar days notice to Customer before the variation is effective. The notice of the variation may be given to the Customer via:

(a) SMS; and/or
(b) email; and/or
(c) announcement at the Bank’s website; and/or
(d) insertion in the statement of account ; and/or
(e) by any other means of notification which the Bank may select.

Customers are reminded to access the Bank’s website at regular intervals to view the Terms and Conditions of the Facility and to ensure that they are kept up-to date with any changes or variations to these Terms and Conditions.
11
 
  1. has any of his current accounts closed by any bank following the requirements of the applicable regulations from time to time governing dishonored cheques and/or policies of the said bank maintaining such current accounts, notwithstanding that his current account(s) with Bank, whether held solely or jointly with others, has been conducted satisfactorily; or
  1. there is a breach of any of the provisions contained in the Financial Service Act 2013 or any prevailing laws or regulatory requirements or directives or guidelines issued or which may from time to time be issued or amended by BNM pertaining to the grant of this Facility generally or to persons connected with the Bank.
13
 
All solicitors’ fees (on solicitor and client basis) incurred by the Bank in relation or in connection with or incidental to provision of the Facility and/or the Bank’s enforcement of its rights under the Facility shall be payable by the Customer and may, as per the bank’s internal policies, be debited to the Customer’s stated account or other account(s) with the Bank.
15
 
The Bank will apply any payment of monies received firstly for instalment, then for other outstanding monies, as per the bank’s internal to revise the priorities accordingly if necessary. If any amount received or recovered in respect of the Customer’s liabilities hereunder or any part thereof is less than the amount than due, Bank shall apply that amount in such proportions and order or priority and generally in such manner.
21
 
The Customer consents to and authorises the Bank and its officers and employees to disclose and furnish all information concerning the Customer’s particulars and affairs (financial or otherwise), account details, relationship with the Bank, the terms of agreement and any other matters relating to the Customer or its business and operations to the following classes of persons in such manner and to such extent as per the bank’s internal policies, which the the Bank may consider necessary for the Facility:
  1. the Bank's related companies or any associated company of the Bank (the Bank together with the aforesaid related/associated companies are collectively referred as "Alliance Bank Group") and their assignees and successors-in-title. For avoidance of doubt, disclosure to the Alliance Bank Group shall be for facilitating the operations, businesses, cross-selling and other purposes of the Bank and/or the Alliance Bank Group;
  1. any other persons or entities with the Customer’s prior consent.
The Customer hereby consents to such disclosure and confirms that the Bank, Alliance Bank Group, its officers and employees shall not be liable for furnishing such information or for the consequences of any reliance which may be placed on the information so furnished in accordance with the terms contained herein.
22
 
The Customer hereby consents and authorises the Bank through the said Declaration to verify with any party including but not limited to the Central Credit Unit of Bank Negara, CCRIS, any agency established by the AIBIM, any information concerning or relating to the Customer whether financial or otherwise, the Customer’s account(s) and/or the conduct thereof for any purpose without any notice of the same to the Customer.
Customers are reminded to access the Bank’s website at regular intervals to view the T&C of the Facility and to ensure that they are kept up-to date with any changes or variations to these T&C.

For further clarification, please contact our Customer Service at 03-5516 9988.

Thank you.
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