KUALA LUMPUR: AmBank Group expects its new AmAdvance Investment Account-i to attract RM2 billion within the first three months- AmIslamic Bank chief executive officer Datuk Mahdi Murad said AmAdvance will invest in several economic sectors- "We are looking into financing- It could be financing infrastructure, property development, manufacturing, oil and gas- "We will look into the economics of that particular business itself, but it must be syariah-compliant business," Mahdi said after the launch here yesterday- AmAdvance enables customers to earn returns based on the expected profit rate (EPR) provided by the bank upon the deposit placement- It offers a low initial placement of RM1,000 for all tenures- The investment tenures vary from one month to 60 months- The fund provides flexibility and convenience for an investment with a short, medium, or long-term investment period, Mahdi said- It also provides the flexibility for partial withdrawals at any point of time with a minimum balance of RM1,000 in the account- Depositors may enjoy half of the EPR on partial withdrawal, subject to a minimum completion of a three-month placement- AmAdvance is currently distributed across all AmBank Group distribution channels- They include the 190 AmIslamic Bank and AmBank branches as well as via business banking and investment banking channels-...

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