Affin Bank And Affin Islamic Bank Launches AFFIN Solar Financing-i To Purchase And Install Solar PV System In Malaysia

Affin Bank Berhad and Affin Islamic Bank Berhad launched AFFIN Solar Financing-i, a sustainable and personal financing plan for its retail customers to purchase and install Solar Photovoltaic System at residential and non-residential properties.

SPV System are solar panels that capture the energy of sunlight which is converted into electricity. Tapping into this power source with its versatility and many benefits, AFFIN Solar Financing-i offers a simple and easy way for home and building owners to lower their monthly
electricity bills, reduce their carbon footprint and see a fast return on their investment. AFFIN Solar Financing-i provides flexible financing tenure of up to ten (10) years with a maximum amount of RM150,000, with various payment mode options.

The official launch took place at Menara AFFIN @TRX where eight (8) solar panel companies exchanged Memorandum of Understanding documents with AFFIN ISLAMIC’s Chief Executive Officer, Nazlee Khalifah and witnessed by its Chairman, Tuan Haji Musa Bin Abdul Malek.

“AFFIN BANK and AFFIN ISLAMIC are the only Banks that offer this financing facility to new and existing customers. We believe there are high awareness and interest for renewable energy and with AFFIN Solar Financing-i, our goal is to push for solar energy to be more
accessible to Malaysians,” said Encik Nazlee.

AFFIN BANK, which was awarded the Sustainable Energy Financing Award by the Ministry of Energy and Natural Resources (KeTSA) at the National Energy Awards 2020, aims to make AFFIN Solar Financing-i a financial solution that addresses as well as bridges the gap of
smaller-scale SPV segment by allowing retail customers, and home and building owners to purchase and install the SPV panels.

He added, “AFFIN Solar Financing-i is one of the steps taken by the Bank to increase the growth of renewable energy in the country in line with the Government’s renewable energy aspiration and Renewable Energy Transition Roadmap (RETR) 2035. The aim is to provide the means needed for Malaysians to progress towards sustainable development. We believe this product will help in growing green economies and green societies in Malaysia.”