Marketing Financial Services

Al – Wadi’ah Premier Savings + Protection Account

CONTENTS:

Our Bank

Brief introduction on Islamic Banking and Islamic Insurance

Market Research

Al-Wadi’ah Premier Savings + Protection Account

Advertising Strategies

Marketing Strategies

Campaigns

4Ps

Premier Bank

Started its operations in Singapore in 1960 as a full licensed commercial bank

Top five banks in ASEAN and a Qualifying Full Bank in Singapore

22 Branches and 32 ATMs are strategically located in both the business districts and the suburban estates for the convenience of our customers

Committed to bring convenience and a wider spectrum of value-added financial services to our customers.

Customers will be able to conduct their banking needs anytime, anywhere in the world

Vision

Be a Premier Bank in the Asia-Pacific region

Committed to providing Quality Products

Excellent Customer Service

Simply the Best!

Our Objectives

Adopt a relationship-based approach to banking and seek to develop long-term and mutually beneficial relationships with customers.

Protect the interest of our customers.

Ensure that customers are equipped with sufficient knowledge about our products

Continuously seek ways to improve our customer-centricity

Our Products and Services

Deposits Personal

iSavy Savings Account-i

Savings Account-i

PremierOne Account-i

Al-Wadiah Premier Savings and

Protection Account-i(new)

Business

Current Account-i

Investments Structured Deposit Alpha Structured Deposit Prestige Structured Deposit Premier Structured Deposit Unit Trusts DWS Noor Global Equity Select Fund DWS Noor Precious Metals Securities Fund DWS Noor China Equity Fund DWS Noor Japan Equity Fund DWS Noor Asia Pacific Equity Fund Ehical Growth Fund Ethical Value Fund

Our Branches

Central

PremierBank Tower

PremierBank @ Balestier

PremierBank @ Chinatown

PremierBank @ RobinsonRd

PremierBank @ NorthBridge

PremierBank @ Queensway

PremierBank @ TextileCentre

East

PremierBank @ Bedok

PremierBank @ GeylangSerai

PremierBank @ Kovam

PremierBank @ MarineParade

PremierBank @ Siglap

PremierBank @ Tampines

North PremierBank @ AMK PremierBank @ HDBHub PremierBank @ Woodlands888 PremierBank @ Yishun West PremierBank @ BtTimah PremierBank @ ChoaChuKagng PremierBank @ HollandV PremierBank @ Jurong East PremierBank @ Jurong Point

Contacts

Address: 2 Battery Road Premierbank Tower Singapore 049907

Phone:

- Local: 1800-PREMIER (1800-773-6437)

- Overseas :(65) 6533 5229

Website: www.premierbank.com.sg

Islamic Banking

KUALA LUMPUR, MALAYSIA - ISLAMIC banking has largely escaped the fallout from the global financial crisis

The outlook for Islamic financing is bright

Transactions must be backed by real assets

Global Islamic banking pie is valued at about US$1 trillion (S$1.5 trillion)

In light of the financial crisis, many investors are opting for less risky alternatives

ISLAMIC BANKING

The basic principle of Islamic Banking is the prohibition of Riba’ (Usury or Interest)

Riba’

“ increase in” or “addition to anything”.

effortless profit or profit that comes free from compensation or extra earning obtained without any exchange

Islam prohibits lending of money to profit.

Instead Muslims are encouraged to do businesses through partnerships where investor and entrepreneurs can carry out business on a more equitable basis

Contemporary Insurance

Current insurance provided by insurance agents are not in line with teachings of Islam

Insurance contracts has usury/riba’ as they promise to pay more than the premium paid

Insurance companies invest the premiums which they have collected in interest-bearing investments

Considered as gambling as policy holder loses the insurance premium to insurance company if insured event does not take place

Islamic Insurance

Mutual provision of guarantees

Parties to the contract support each other when any of them suffer losses

Allow policy holders to enjoy the same level of cover provided by conventional insurance and at the same time help the unfortunate in time of needs

Market Research

Competitive Analysis

Market survey

Competitive Analysis OCBC Al-Wadi'ah Savings Account Maybank Savings A/c Maybank PremierOne Account- i Dividend Payout Half- Yearly dividend Payout At Bank’s Discretion At Bank’s discretion Benefits ATM card Phone Banking Internet Banking Monthly Statement Zakat Auto Deduction Service Free Giro Service 24-Hour account access MayBank Visa Money Transfer Interbank GIRO Mobile Banking Phone Banking 24-Hour account access Monthly Statement No account fees Free 1 chequebook Phone banking Mobile Banking Internet Banking 24-Hour account access Eligibility Min. Age of 15 Min. deposit of $1000 Min. Age of 15 Min initial deposit of $10 Avg daily bal. Req. is $200. Min. Age of 21 Min. Deposit of $1000 Service Fee S$2 per month if monthly avg. Bal. falls below S$1,000 - $8.50 levied if monthly avg. Bal. falls below S$3,000, Indicative Div. Rate 0.125% - 0.4%p.a. 0.25% - 0.3750% 0.25% - 0.3750%

Market Survey

Questions:

Do you know what Islamic Banking is?

Have you heard of any bank that provide Islamic Banking services?

In your opinion, are there enough advertising/campaigns on Islamic Banking?

Would you open an account if Islamic Banking only offers dividend and not interest?

If road shows are carried out at Community Centre or mosques, are you interested to attend?

1) Do you know what Islamic Banking is?

3) In your opinion, are there enough advertising/campaigns on Islamic Banking?

5)If road shows are carried out at Community Centre or mosques, are you interested to attend?

Al-Wadi’ah Premier Savings + Protection Account

Product Info

Combines the features of savings and insurance

"Hibah" or "token" in the form of dividends is distributed quarterly

Minimum balance required :500 SGD

Insurance premium of SGD 50 automatically deducted from account monthly.

Assuming a non-smoking female or male who takes up this account The figures are for illustration purposes only. Insurance eligibility and premiums are subject to underwriting. * Subject to terms and conitions Age Coverage Benefits Annual premium amount Monthly premium amount 30 year old, male Terminal illness, permanent disability, accidents and loss of property* Sum assured of S$200,000 up till age 70 S$570.00 S$50 35 year old, female Sum assured of S$500,000 up till ge 70 S$700.00 S$60

Benefits-Product

Provides convenience for consumers

Easy cash withdrawals via your ATM Card

24-Hour account access

Easy transaction monitoring

Interbank GIRO

Insured up to 200,000 for accidents and loss of property

Hibah or dividend is distributed quarterly

Eligibility

To be at least 21 years of age

This account is also open to non-profit organisations

The account can also be opened in your child's name as a trust account with you as the sole account operator

Be Singapore Citizens or Singapore Permanent Residents

Minimum Deposit of SGD500

Recent Dividends Declared

First S$500: 0.3500% p.a.

Next S$10,000: 0.4750% p.a.

Remaining balance above S$10,500: 0.6000% p.a.

***Effective as at 4 July 2009

Summary of Product Premier Bank Al-wadiah Premier Savings +Protection Dividend Payout Quarterly dividend payout Benefits ATM Card Interbank GIRO Mobile Banking Phone Banking 24-Hour account access No account fees Insurance coverage of up to SGD200,000 Eligibility Min. Age of 21 Min. Deposit of $500 Service Fee S$2 per month if monthly avg. Bal. falls below S$500 Indicative Div. Rate 0.30-0.60%

FAQ-Products

1. Is Islamic Banking only for Muslims?

No. Islamic Banking is for anyone who may wish to use interest-free banking. We welcome all customers regardless of their religious background.

2. If my Islamic Account is interest-free, how does it work?

Your money is kept in accordance with the Syariah guidelines. This means that we don't use the money you keep with us for activities that is contrary to the Syariah guidelines.

3. Who has decided that the Islamic Account is Syariah compliant?

We work with a committee of distinguished scholars who have a lot of experience in Islamic finance and the Syariah law. They guide us in our creation of Islamic Banking products which are right for you.

I am already a Premier bank customer. Can I change my existing account to the Islamic Account?

Yes. You just need to visit any Branch, and we will effect the necessary changes.

How do I go apply for an Al-Wadiah Premier Savings and Protection Account?

Simply visit any of our 22 Branches. Applicant(s) only need to bring their NRIC and place an initial deposit in cash

Can I open an Al-Wadiah Premier Savings and Protection Account with a joint account holder?

Yes, you can open an account with another applicant. The joint account will be opened based on either party to sign basis.

Marketing

Target Group: 30 – 60 years old

Both Muslims and Non-Muslims

Preferably working adult

Advertising Strategies/Programs

We carried out a survey and many felt that not much

advertising is carried out to promote Islamic Banking. Many do

not know what it is about and the products that banks in

Singapore provide. Thus, we have decided to have:

Posters at bus-stops/MRTs

Brochures to be given out and is available at all of our banks

Premier Bank website

Talks at Mosque

Sponsor Carnivals( give talk and goodie bags on product)

Newspaper advertisements

Hotline

Goodie Bags

Marketing Strategies/Programs

A team will be created to be in-charge of promoting the new Islamic product

Letters and emails will be sent to customers to promote the new product to them.

Database of all customers between the ages of 30 to 60 will be collected

Team will have to check that all data is correct and emails/letter will be sent to them.

Team will also need to include the brochure in the letter and send it for printing.

A follow-up will have to be carried out to find out who are interested in it.

Brand/Publicity Campaigns

We will conduct road shows at mainly 4 housing estates (North, South, East and West).

Around 4 will be employed each day at each location to promote the new product.

collaborate with mosques during a ‘Family Carnival’ to conduct talks or road shows with regards to the product.

Tissues, Brochures and goodie bags given out during the campaigns

Promotion

Lucky draw

1st Prize : Pair of air tickets to and fro to Japan.

2nd Prize : Pair of 3 days 2 nights trip to

Phuket

3rd Prize : $200 NTUC voucher.

*50 consolation prizes of $50 NTUC vouchers.

Place

Talks at Community Centres

Talks at Mosques in Singapore

3 day Road shows(Friday, Sat, Sun) at:

North: Woodlands

South: Tiong bahru

East: Hougang

West: Choa Chu Kang

Distribution

Direct mail and emails to existing customers

Posters at various heartlands, bus stops, and notice boards at community centres

Limitations faced by Premier Bank

May not get the authority to hold talks at mosques

May exceed the limit for our budget

Product may not be as well received as expected

Customers not willing to change bank as they are loyal

Ensure that all staff act according to the Code of Consumer Banking Act

Difficulty in retaining customers

Solutions

Ensure that all licenses required are obtained (license to give talks etc)

Come up with more promotions to attract new customers (give out vouchers and movie tickets)

Provide excellent customer orientated services (free coffee at branches)

Open more counters during peak hours

Make sure all staff go through a 3 day training program with regards to promoting financial products

Budget BUDGET Quantity Price Total Price Cost of printing survey forms 1000 $0.05 $50.00 Cost of printing application forms 10000 $0.03 $300.00 Posters at bustops (license to put up posters included) 100 $62.00 $6,200.00 Brochures 60000 $1.50 $90,000.00 Newspaper advertisements (for 5 days) $111,650.00 > The Straits Times 7 $9,900.00 $69,300.00 > The Business Times 7 $2,600.00 $18,200.00 > Barita Harian 7 $3,450.00 $24,150.00 Radio advertisement $13,000.00 > Warna 94.2FM (morning-$120, lunch-$150, day-$100, evening-$110, night-$50) 5 $530.00 $2,650.00 > 938LIVE (morning-$290, lunch-$160, day-$150, evening-$240, night-$60) 5 $900.00 $4,500.00 > Love 97.2FM (morning-$250, lunch-$450, day-$170, evening-$240, night-$60) 5 $1,170.00 $5,850.00 Magazine advertisement $34,500.00 > Female 3 $4,200.00 $12,600.00 > NTUC lifestyle 3 $4,200.00 $12,600.00 > Manja 3 $3,100.00 $9,300.00 Printing of letters 100000 $0.03 $3,000.00 Postage Costs 100000 $0.27 $27,000.00 Envelopes 100000 $0.05 $5,000.00 Rental of place for roadshows (3 days, at 4 locations) 12 $4,500.00 $54,000.00 Logistic fee $15,000.00 > Sound system rental 12 $500.00 $6,000.00 > Hiring of emcees 12 $750.00 $9,000.00 Cost of employing workers ($70 per day, three times) 40 $210.00 $8,400.00 Banners 8 $168.00 $1,344.00 Collaboration with mosques 4 $1,500.00 $6,000.00 Tissue paper together with information of our product printed on it 60000 $0.35 $21,000.00 Notepads 60000 $0.60 $36,000.00 Recyclable bags (goodie bag for roadshows) 60000 $0.50 $30,000.00 Expenses incurred for promotion $11,180.00 > Pair of air ticket to and fro to Japan 2 $2,210.00 $4,420.00 > Pair of 3 days 2 nights trip to Phuket 2 $630.00 $1,260.00 > NTUC vocher 1 $500.00 $500.00 > Consolation Prizes 50 $100.00 $5,000.00 Family Day Carnival (sponsored by us, talk and brochures given) 1 $4,000.00 $4,000.00 $477,624.00

References