25 September 2023

Updated Islamic Deposit Terms and Conditions


Dear customers,
We have revised our Islamic Deposit Terms and Conditions ("Islamic Deposit T&C") as of 15 August 2023. The updated document can be found on the deposit product information page. Please see below for the new clauses added to the Islamic Deposit Terms and Conditions.
Updates on Personal Data Protection Act for disclosure of Information clauses - incompliance to the revised Policy Document of Management of Customer Information and Permitted Disclosures (MCIPD).

Disclosure of Information

The customer consents to and authorise 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 the Bank may consider necessary:
  1. The Bank's related companies by virtue of Section 7 of the Companies Act 2016 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 businesses and operations of the Bank and/or the Alliance Bank Group
  2. Any person for or in connection with any legal action or proceeding taken to recover monies due and payable by the customer to the Bank;
  3. Regulatory bodies, government agencies, tax authorities, the police, law enforcement bodies and courts, both within and outside Malaysia including pursuant to the Foreign Account Tax Compliance Act (FATCA) of the United States and Common Reporting Standards (CRS);
  4. Cagamas Berhad, Credit Guarantee Corporation (Malaysia) Berhad (if applicable) and any other relevant authority as may be authorised by law to obtain such information, or such authorities/agencies established by Bank Negara Malaysia, or any agency established by the Association of Islamic Banks in Malaysia;
  5. Central Credit Reference Information System (CCRIS), credit bureaus, credit reporting agencies and corporations set up for the purposes of collecting and providing credit information authorised or licensed under Credit Reporting Agency Act 2010;
  6. The Bank’s accountants, auditors, lawyers, advisors, consultants and/or other authorised agents as may be required for the proper performance of their functions, duties and obligations to the Bank and the Alliance Bank Group;
  7. The Bank’s service providers, nominees, agents, contractors or third party service providers engaged by the Bank and its related or associated companies to carry out the Bank’s functions and activities;
  8. An external party as may be required for any corporate exercises/due diligence activities undertaken by the Bank and/or the Alliance Bank Group
  9. Any party which in the future may express intention to acquire an interest/shareholding in the Bank/pursuant to any proposed arrangement, composition, merger, acquisition/restructuring between the Bank and such parties; and
  10. Any other persons or entities with the customer’s prior consent. The customer hereby consents to such disclosure and confirm 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.
Should you have any queries, please call our Customer Service at 03 – 5516 9988 or visit our branches or website at

Thank you for your continuous support.