Technology

Hong Leong Islamic Bank Survey: 65% Malaysian Muslims Always Choose Shariah-Compliant Banking and Investment Products

Published

3 months ago

August 15, 2024

The survey also found that 47% of Malaysian Muslims are currently investing

KUALA LUMPUR, Malaysia, Aug. 15, 2024 /PRNewswire/ — 65% of Malaysian Muslims will exclusively choose banking and investment products that are Shariah-compliant, according to a survey conducted by Hong Leong Islamic Bank (“HLISB” or the “Bank”).

The survey was conducted among 690 Malaysian Muslims aged between 18 – 77 years old, most of whom recorded a median monthly household income of below RM10,000.

The Bank also discovered that 47% of Malaysian Muslims claim to be currently investing, wherein the top three products are Amanah Saham Nasional Berhad (ASB) funds, Tabung Haji savings and gold commodities, closely followed by Malaysian stocks and high income savings accounts. While there is the perception among respondents that Islamic investment products generate lower benefits, HLISB strives to ensure that its Shariah-compliant solutions are designed to be competitive against its conventional counterparts, providing customers who choose Islamic banking products with market-standard benefits and returns.

According to Dafinah Ahmed Hilmi, CEO of Hong Leong Islamic Bank, the survey results present an opportunity for the Bank to leverage on a growing market in offering a comprehensive wealth management approach aligned with Islamic wealth principles.

“Muslims make up around 63.5% of the population in Malaysia, and according to our survey, 65% exclusively choose Islamic banking products, reflecting the strong demand for banking and investment solutions that are Shariah-compliant. In Islamic banking, investments are not just about growing your personal wealth. It serves as a vital component within the Islamic wealth management ecosystem, an end-to-end framework that addresses the creation, accumulation, distribution, preservation, and purification of wealth. Built on Islamic values and Shariah principles, this comprehensive approach actively promotes altruism and social responsibility, ensuring risks and profits are shared between those who are in need and those who have excess.

The Bank is uniquely positioned as a financial intermediary to meet this demand with robust, innovative, and Shariah-compliant wealth management services, helping our customers tap into the Islamic investment space while ensuring their wealth is protected under an end-to-end Halal financial ecosystem. We want to be the ideal platform for Malaysians to start, grow, and diversify their Shariah-compliant investment portfolios.”

The Bank’s survey also revealed that 77% of Malaysian Muslims do not have a documented financial plan, despite 84% of respondents claiming to have the desire to be wealthy. This highlights the importance of a comprehensive Islamic wealth management strategy in educating Muslim individuals to build a financial future that aligns cohesively with Islamic principles.

HLISB’s Head of Shariah, Akmal Solihi Mohd Yazid, highlighted the significance of Islamic wealth management, and how the Bank wants to help its customers utilize it to its full potential.

“In Islam, the acquisition, expenditure and preservation of wealth should be conducted properly and responsibly, adhering to Islamic principles. This has led to contemporary Muslim scholars creating a set of guidelines that ensures the entire wealth journey is in compliance with these Islamic rules. With a team of dedicated Shariah experts and a proven track record in Islamic finance, we ensure that our tailor-made wealth solutions meet these stringent Shariah guidelines while fulfilling the diversified needs of our customers.”

Customers can easily embark on their Shariah-compliant investment journeys with HLISB providing access to various award-winning Islamic funds that have generated impressive returns over the years, such as HL Dana Makmur and HL Dana Maa’rof which produced five-year annualised returns of 18.45% and 11.41% respectively, as of 30 June 2024. For those looking for shorter term investments with lower risk, HLISB’s Term Investment Account would be an alternative where customers can start investing with as low as RM500 for a 1, 3, 6, 9, or 12 month tenure.

In line with enhancing its Islamic wealth management advisory services, the Bank has also launched its wealth management podcast entitled “Market Matters with HLB”, equipping the public with insights and knowledge regarding investments and HLB’s wealth management solutions. Upcoming episodes include a deep dive into Islamic wealth management with HLB’s brand ambassadors Lisa Surihani and Alif Satar.

To watch all episodes of the “Market Matters with HLB” podcast series, please visit:
https://www.youtube.com/playlist?list=PLBEP-o-W5SRYfIU0VClXRtM9G2_cjPbUb

For more information on HLISB’s wealth management solutions, please visit:
https://www.hlisb.com.my/en/personal-i/manage-my-wealth.html

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SOURCE Hong Leong Islamic Bank

Technology

Todd Tucker joins Parking Revenue Recovery Services as Chief Operating Officer to Guide Growth as PRRS expands as a Vehicle Identification and Monitoring Technology Platform

Published

58 minutes ago

November 15, 2024

DENVER, Nov. 15, 2024 /PRNewswire/ — Parking Revenue Recovery Services (PRRS), Inc., a leader in AI-driven compliance and vehicle activity monitoring, is pleased to announce the appointment of Todd Tucker, JD, DBA, CAPP, CPP, as its new Chief Operating Officer, effective November 15, 2024. With over 30 years of experience in the parking industry, Tucker is a recognized leader, having held various senior executive roles. Todd assumes the role of Chris Conley, who has decided to retire and enjoy some well-earned time after 30 years in the parking industry.

Before joining PRRS, Tucker served as President at Parking Logix and has been a leader in multiple tech companies focused on mobility solutions, with two leading to strategic and/or investment transaction outcomes Todd’s experience as a parking operations leader/expert and his roles spearheading the development and growth of innovative technology offerings focused on parking provide him with a unique ability to build solutions that meet the needs of today’s parking operations.

PRRS is uniquely positioned in gateless parking technology solutions through its machine vision-based technology, which identifies all vehicle activity, enhances compliance, and enables clients to expand their service capabilities. Our technology allows clients to gather valuable insights into operation and consumer activity while helping our clients improve their customer experience. With Tucker’s extensive expertise in parking technology and leadership, PRRS aims to broaden its services across North America, solidifying its status as the premier provider of gateless technology solutions to operators and facilities.

“Todd’s proven track record of driving innovation and his dedication to enhancing technology-based services make him the ideal candidate to lead PRRS into its next growth phase,” said Gabor Burchner, Managing Director, GB & Partners IM. “As the demand for adaptable technology solutions providers continues to rise, Todd’s leadership and collaborative approach will be invaluable.”

PRRS, in partnership with Asura, has successfully implemented the ARC solution and its compliance services at over 400 parking sites across 29 states. With ongoing investment from GB & Partners IM, PRRS is set to expand beyond its current identity as a “parking notice firm” to become the leading gateless technology solution for the future.

“I am thrilled to join PRRS and enhance the value we provide to our parking operating partners,” said Todd Tucker. “Throughout my career, I’ve consistently sought to challenge the status quo by delivering innovative solutions in an ever-evolving industry. PRRS is at the forefront of leveraging technology to enhance its services, and with GB & Partners IM participation, we will continue to deliver exceptional value to the parking sector and beyond. I look forward to joining the PRRS team and collaborating with our clients to push boundaries and innovate in compliance and facility monitoring services.”

About Parking Revenue Recovery Services

Parking Revenue Recovery Services, Inc. (PRRS) is North America’s leading Parking Compliance and Facility Monitoring technology provider. PRRS is on track to provide over 1,000 parking locations and proudly supports national, regional, and local parking operators throughout the United States. Our client owners and parking operators use our monitoring and compliance services in all properties, including commercial lots and garages, municipal facilities, college and university facilities, airports, hospitals, commercial properties, and residential buildings. PRRS creates exceptional value for its parking operator clients through increased overall customer compliance and enhanced visibility into operating activity and usage while delivering excellent customer service. We maximize the value provided to our clients through excellence, innovation, and efficiency in its compliance and monitoring services, delivered by an outstanding team of parking professionals dedicated to the highest levels of customers.

About Asura Technologies

Asura Technologies specializes in next-generation video analytics and license plate recognition software, utilizing AI to create smart parking, traffic management, frictionless tolling, and safety security applications. Active globally since 2018, Asura Technologies USA collaborates with PRRS to provide highly effective, automated parking enforcement solutions through innovative technology.

About GB & Partners IM

GB & Partners IM is an independent private equity and venture capital firm focused on innovative city technologies, fashion, fintech, medical technologies, and mechanical engineering. As the largest Hungarian-based firm in its sector, GB & Partners IM offers extensive leadership experience in private equity and venture capital investments, M&A transactions, and IPOs, providing operational support to investment entities by international standards. In 2019, GB & Partners IM became the first Hungarian venture capital firm to gain membership in Invest Europe.

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SOURCE Parking Revenue Recovery Services, Inc.

Technology

Connect and Converse Across Borders with Moii: Now Available Worldwide

Published

58 minutes ago

November 15, 2024

SEOUL, South Korea, Nov. 15, 2024 /PRNewswire/ — Moii, an innovative avatar-based interest-matching conversation service developed by tech startup illuni, has officially launched globally. Available on the Google Play Store and Apple App Store, Moii offers users a unique way to meet new friends, share stories and enjoy engaging conversations. The service allows people around the globe to experience safe, interest-based connections with like-minded people, fostering a sense of community across borders. Moii exemplifies illuni’s commitment to creating immersive digital experiences through advanced artificial intelligence (AI) technology.

To create heartfelt connections, download Moii from the Google Play Store (https://play.google.com/store/apps/details?id=com.illuni.moii&hl=en-US) and Apple App Store (https://apps.apple.com/us/app/moii-heartfelt-connections/id6456406927).

Create Moiiments, Connect Globally

In a world where genuine interaction can feel rare, Moii provides a space for simple, meaningful conversations without the pressure of video or photo sharing. By connecting users based on shared interests, Moii creates a relaxed environment for spontaneous chats, whether someone is looking for a listening ear, a language exchange, or a fresh global perspective. With engaging features such as avatar costumes and singing content in virtual karaoke – introduced in a recent November update – the app continues to attract a growing user base of young adults seeking meaningful connections beyond small talk.

“Since our global launch on the 1st of November, users from over 30 countries have come together on Moii to share interests, create unique content and enjoy friendly conversations,” said Byung-Hwa Park, CEO of Illuni. “We are thrilled by the enthusiasm for Moii as people around the world find it to be a fun and welcoming platform.”

Aimed at users in their 20s and 30s, Moii allows users to interact in a fully customizable 3D environment. Instead of revealing their actual appearance, users create avatars that reflect their personalities and interests, providing a sense of anonymity, security, and comfort. Once matched, users can personalize their avatars, use conversation cards, and enjoy mini games, making every interaction fun and engaging.

With a mission to create comfortable spaces for conversation, Moii promotes cross-cultural and language exchange on a global scale. Whether users want to make foreign friends, practice a new language, or simply chat with a friendly listener, Moii offers a low-pressure, refreshing way to connect.

Looking ahead, Illuni plans to expand Moii’s language support, making it accessible to even more users across the globe.

For more information about Moii, visit https://www.moii.net/en

About illuni

Illuni is a forward-thinking startup focused on developing immersive digital experiences through advanced AI technology. The company is committed to building innovative mixed-reality services that redefine user engagement in digital spaces. Alongside Moii, illuni’s portfolio includes Storyself (https://storyself.com), an interactive storybook app that transforms users’ pictures into story characters, allowing them to become the protagonists of various tales—making it both engaging and educational for children.

To learn more about illuni and its suite of mixed-reality projects, visit: https://www.illuni.com/en

For media inquiry, please contact: illuni Communications, e-mail: contact@illuni.com

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SOURCE illuni

Technology

LONGi’s Solar Panels Enhance Sustainability in Bengaluru’s Residential Complex

Published

58 minutes ago

November 15, 2024

BANGALORE, India, Nov. 15, 2024 /PRNewswire/ — LONGi, in partnership with SolarSquare, has completed a 342 kW solar project using advanced Hi-MO 5 solar panels for a residential apartment complex in Bengaluru.

Launched seven months ago, this solar project is set to save the residential complex up to $47,736 annually and has already generated an impressive 340,000 units of electricity. Thanks to the high efficiency of the solar modules, significant economies of scale, and the inherent advantages of rooftop solar, the project is projected to reach its break-even point within just 4.75 years.

Before the installation of the rooftop solar panels, residents faced annual electricity costs of approximately $143,305. The switch to solar energy is expected to result in annual savings between $47,768–$53,768, effectively reducing their electricity expenses by around 33%.

Nikhil Nahar, Co-founder and Director of SolarSquare, stated, “Through our strategic partnership with LONGi over the years, our customers have gained access to state-of-the-art technology for their projects. LONGi’s solar panels consistently deliver performance and help our customers save on electricity bills. With a shared vision to accelerate the mass adoption of renewable energy and enhance sustainability, our partnership has continually provided innovative solutions, earning the trust of our customers.”

LONGi remains committed to delivering advanced solar technology and helping more residential complexes achieve energy independence through its highly efficient and reliable products.

About LONGi

Founded in 2000, LONGi is committed to being the world’s leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.

Under its mission of ‘making the best of solar energy to build a green world’, LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com

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