20th June 2023 - 2 min read

OCBC Al-Amin has launched its new OCBC eBiz Account-i, which allows its business customers to open a shariah-compliant business account entirely online. The application process is both fast and convenient, enabling customers to obtain their business accounts with minimum hassle.
In a statement, OCBC Al-Amin said that the new OCBC eBiz Account-i follows in the footsteps of OCBC’s conventional OCBC eBiz Account, serving as the shariah-compliant counterpart for those who have such preferences. It features a relatively low initial deposit of RM500, and also allows you to access specialised business finance management tools, along with complimentary business internet banking services through OCBC Velocity.
Briefly, OCBC Velocity is an online business solution by OCBC that offers a range of assistance, including managing accounts and cash flow, as well as initiating payments and collection. For those who trade, you can also use it to access and manage your trade portfolio – among other things.
If you’d like to apply for the OCBC eBiz Account-i, do note that your company must be wholly owned by Malaysians (up to two directors or partners), and is registered under Suruhanjaya Syarikat Malaysia (SSM). Your business must also satisfy the bank’s shariah compliance criteria, along with some other additional eligibility criteria.

If you do qualify, go ahead and fill in the online application form; be sure to have details like your business registration number (BRN) at hand for the process. You’ll also need to verify your identity via the standard eKYC procedure. After your account is successfully opened, you will receive a confirmation email or SMS within one to two working days.
Chief executive officer of OCBC Al-Amin, Tuan Syed Abdull Aziz Syed Kechik said that the bank decided to launch the OCBC eBiz Account-i because there has been a strong demand among SMEs for shariah-compliant business accounts that can be opened online.
“Convenience and security are key to meeting the growing customer appetite for digital banking products and services. So, OCBC eBiz Account-i offers the convenience without compromising on security and we have ensured that this is possible with robust systems in place and through our own dedicated OCBC eKYC platform, which is supported by CTOS Data Systems Sdn Bhd (CTOS),” said Tuan Syed Abdull Aziz.
(Source: OCBC)
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