May 14, 2018

Bank Negara Malaysia has added Tü-E Capital Bhd – which has its origins in Indonesia – to its Financial Consumer Alert list of unapproved companies and websites.

“The list consists of companies and websites which are neither authorised nor approved under the relevant laws and regulations administered by Bank Negara,” it said in a statement posted on the website.

Bank Negara pointed out the list is not exhaustive and only serves as a guide to members of the public based on information and queries received.

A check on the Tü-E Capital website shows the company has an office in Kuala Lumpur.

The company stated it started in Jakarta by incorporating P.T. Tü-E Capital Bhd, now is P.T. Tü-E Capital Indonesia a company with Foreign Investment (PMA – Penanaman Modal Asing) status where it has a 70% equity.

Tu-E Capital’s strategic alliance/partnership have the advantage over conventional banking system with usury/ interest element.

Tü-E Capital will act as the guarantors to settle any bank charges utilising the return earned from the weekly return for 40 weeks by participating in the trade program (PIP) using the said fixed deposit certificate.

Source: The Star Online (