I don't think there's shariah compliant Private Banking? I only heard the "normal" conventional one only

Did you manage to find a private bank to suit your needs? I am interested to find out more too.

Hi tandukhitam & homersimpson,

Is there some specific facility that you would like, that other places are not offering to you ?

This post has been edited by lukenn: Dec 25 2015, 12:28 PM

Malaysia Private banking industry is just at very initial stage compare to Singapore.

DBS private bank, Uob private bank and bank of Singapore provide more "real" private banking services compare to malaysia private bank.

Real private bank will help to set up family office.

Unfortunately, I do not want to exchange ringgit to other ccys now which is why I am interested to find out more abt pb in Malaysia. I think only UOB offers pb services in Malaysia in terms of Singapore PBs? Is anyone a user of their services?

Is there some particular service that other banks are not offering that you are looking for ?

We have been asking what type of services you need and yet to get any answer from yourself... How you would want us to advise further?

Basically just for yield. Potential investment but am extremely conservative so not looking at investing in anything exotic. Fast, easy transfers to Singapore when the need arises. Bankers who dont push unsuitable products to you.

You don't really need private banking this way. Priority banking will do with much lower entry requirement. Try bank that near and convenient to you and shift when you don't like their service

This post has been edited by Yippie123: Dec 28 2015, 10:21 AM

Let me introduce you to the wonderful world of STMDs, NIDs, overnight deposits, money market funds and treasury services.

This post has been edited by lukenn: Dec 28 2015, 02:44 PM

[quote=Yippie123,Dec 28 2015, 10:21 AM]
You don't really need private banking this way. Priority banking will do with much lower entry requirement. Try bank that near and convenient to you and shift when you don't like their service

[/quote

I thought about that and I have been doing research online. If PB is able to offer a higher yield for cash deposits versus priority banking, am pretty happy to join a pb even with the higher requirements.

Or investing in corporate bonds, priority banking would not be able to offer such investment ideas. I just want to keep my options open while getting a higher yield of return off my capital and waiting (hopefully) for the ringgit to recover when oil prices does.

Does anyone use UOB PB?

[quote=Homersimpson79,Dec 28 2015, 11:12 AM]
[quote=Yippie123,Dec 28 2015, 10:21 AM]
You don't really need private banking this way. Priority banking will do with much lower entry requirement. Try bank that near and convenient to you and shift when you don't like their service

[/quote

I thought about that and I have been doing research online. If PB is able to offer a higher yield for cash deposits versus priority banking, am pretty happy to join a pb even with the higher requirements.

Or investing in corporate bonds, priority banking would not be able to offer such investment ideas. I just want to keep my options open while getting a higher yield of return off my capital and waiting (hopefully) for the ringgit to recover when oil prices does.

Does anyone use UOB PB?

[/quote]

If really you are into investment but not fd, I would suggest you look into Maybank dual currency investment. Hv a talk with them to understand more, it's interesting. Look at crude oil, political US move in Middle East as well as China responses on SEA.

This post has been edited by Yippie123: Dec 28 2015, 12:08 PM

I fully understand how such investments work as I have experience in accounting for structured products many years ago. Any sort of structuring inevitably entails risk and rewards and more so, more fees for the bank.

You are right to suggest looking at commodities prices and politics in the US and I much rather invest into oil related etfs and selected oil stocks when the right time comes along. Now however is not the time and I much rather keep my funds liquid for the next 6mths.

In this case why would you need private banking? spread your funds across all bank with high fd yield. HLB for example offers 4.5%pa for 6 months...

Or if a US, EUR, or CNY bond... but at least for 5 years you are tied up with.

This post has been edited by Yippie123: Dec 28 2015, 04:57 PM

I have thought of that too. UOB/CIMB offers a pretty decent yield too. But I would also like to find out what yields would the private banking side of the bank would offer before I decide. Thanks for the suggestion