Maybank Islamic Aims to Issue 100,000 Eco-Friendly Credit Cards

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by KnowESG,

Maybank

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Picture of Maybanks Plan to Issue 100,000 Eco-Friendly Credit Cards

Maybank Islamic aims to issue over 100,000 new credit cards that are eco-friendly and feature sustainable elements in 2023.

Along with these new cards, the bank announced that new Amex, Mastercard, and Visa Ikhwan credit cards will be available starting December 12 as part of a three-month campaign.

Maybank Islamic said it will reward cardholders with 5x TreatsPoints for every RM1 spent with specified eco-friendly merchants and sustainable businesses.

It said more than 30 such merchants and businesses have been selected to be a part of the campaign based on their commitment to environmentally friendly and sustainable practices.

The list of merchants, which includes grocery stores, clothing stores, transportation companies, hotels, and companies that provide solar power, is expected to grow in the near future.

Maybank Islamic chief executive officer, Datuk Mohamed Rafique Merican, said the introduction of these cards is timely and bodes well given the rise in customer awareness for a more eco-friendly, green, and sustainable solution.

“As a responsible financial institution, Maybank Islamic is committed to ensuring good ESG practices within its business while creating awareness and educating customers on adopting sustainable practices.

“We understand and recognise the journey ahead, hence, we are committed to looking for new ways and solutions to reduce our collective carbon footprint through the introduction of this new bio-sourced credit card,” he said.

Maybank Islamic said the new credit card comprises 84% biosourced and renewable materials, which are plant-based and biodegradable.

The use of polyvinyl chloride (PVC), a petroleum-based plastic, and fossil-based plastic will be reduced by 82%, it said.

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Source: The Edge Markets

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