First local bank to provide Juwai IQI’s customers property financing and access to CIMB Islamic’s products and services 

KUALA LUMPUR, Oct 21 (Bernama) --  CIMB Bank Berhad and CIMB Islamic Bank Berhad (collectively “CIMB” or “the Bank”) and Juwai IQI, Asia’s largest proptech group, have entered into a partnership to provide property financing to Juwai IQI customers in Malaysia. The partnership will also allow direct access to CIMB’s suite of investment solutions and exclusive benefits, providing a one-stop centre for a wide range of financial needs.

Ahmad Shahriman Mohd Shariff, Chief Executive Officer, CIMB Islamic said, “CIMB is excited to be a partner to Juwai IQI. We are proud to be the first Malaysian-based bank to offer Syariah-compliant and sustainable solutions to Juwai IQI’s customers, including financing, takaful, deposits, investments and other banking services. Based on Bank Negara Malaysia’s monthly loan application data, the value of home loan applications grew 86% year-on-year to RM179.4 billion in the first half ended 30 June 2021 (1H21) from RM96.4 billion in the first half ended 30 June 2020 (1H20). With the Overnight Policy Rate at a record low of 1.75%, consumers are taking advantage of mortgage rates as well as looking at other asset classes to generate higher yields. We foresee a stronger growth for our consumer banking business this year and anticipate higher demand for real estate in the country and ASEAN as a whole in line with the global economic recovery.”

Juwai IQI has been operating in Malaysia since 2012 and is present in 10 states, selling and renting properties with a combined value of over USD1 billion in total in 2020, having tripled its agency force to 15,000 globally in the same year. As a leading proptech group in ASEAN, it has chosen Malaysia for its ASEAN headquarters.

Kashif Ansari, Co-Founder and Group CEO, Juwai IQI said, “Since making Malaysia our regional Southeast Asian headquarters for our real estate business in 2016, we have grown tenfold as a leading ASEAN proptech group. We are looking forward to this partnership.” 

https://wetransfer.com/downloads/5e33edc863a78682ffe2a4d634e8405720211021031214/
a75ed5da40f32213f2baf866cab5241d20211021031331/c6ddcf

Photo caption:
Ahmad Shahriman Mohd Shariff, Chief Executive Officer, CIMB Islamic Bank Berhad (left) and Kashif Ansari, Co-Founder and Group CEO, Juwai IQI.

About CIMB
CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM46.2 billion as at 30 June 2021. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in all 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar, Laos and Philippines). Beyond ASEAN, the Group has market presence in China, Hong Kong, India, South Korea, the US and UK. 

CIMB has one of the most extensive retail branch networks in ASEAN with 635 branches and around 33,000 employees as at 30 June 2021. CIMB’s investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group’s leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.

About Juwai IQI
Juwai IQI is the Asian real estate technology group that empowers residents of Asia to become residents of the world, transacted more than 17,000 properties in 2020, engages 5.5 million monthly active users and advertises US$4 trillion of property from 111 countries every year. The company offers real estate marketers an end-to-end marketing and sales solution that integrates its super-app, its IQI global network of more than 15,000 real estate agents, and its market-leading property marketplaces, which are the number one Chinese international real estate portal (Juwai.com) and the first Asia-wide portal for global property (Juwai.asia). Follow Juwai IQI on Twitter, LinkedIn and Facebook and visit https://www.juwaiiqi.com/. 

Source: CIMB Group

FOR MORE INFORMATION, PLEASE CONTACT: 
Name : Lynn Guha Thakurta / Hishamuddin Omar
Group Corporate Communications
CIMB Group Holdings Berhad
Email: lynn.thakurta@cimb.com / hishamuddin.omar@cimb.com

--BERNAMA