Bank Islam Malaysia Berhad

Bank Islam Malaysia Berhad, also known as Bank Islam, is a Malaysian banking institution. Its official history dates the launch of its operations to 1 July 1983, describing the bank’s establishment as part of efforts to demonstrate that Islamic banking could operate successfully in a modern economy. The bank’s formation followed earlier developments in Islamic finance in Malaysia, including the establishment of the Pilgrims Management and Fund Board, or Tabung Haji, in 1969. The official website presents a range of banking services and products. Its notices refer to credit cards-i and debit cards-i, basic savings and current accounts-i, vehicle financing-i, and unit trusts. The site also offers online appointment booking and refers to Hajj registration through the bank’s platforms and channels. These offerings indicate a service mix spanning retail banking and other financial services; the supplied material does not provide a complete product catalogue or specify all of the bank’s markets. Bank Islam’s About Us page describes its transition into a fully listed banking institution as a leap into a new era. The supplied evidence does not identify a parent company, owner, headquarters, or listing ticker. Its leadership page lists a board, Group Shariah Supervisory Council, and management team. The current management roster shown there includes Group Chief Executive Officer YM Raja Datin Paduka Teh Maimunah Raja Abdul Aziz.

The official history traces the development of Islamic banking in Malaysia to a period before the establishment of Bank Islam. It notes that Muslims in the country had sought a financial system compliant with Shariah requirements even before World War II. In 1969, the Pilgrims Management and Fund Board, known as Tabung Haji, was established as an early Islamic financial institution, primarily to encourage savings and investment among Muslims and help depositors perform Hajj. The history also places Bank Islam within a wider international movement: it states that the first Islamic bank was established in Dubai in 1975. In Malaysia, the official account identifies the Bumiputera Economic Congress in 1980 and a seminar on the Concept of Development in Islam in 1981 as important precursors to the bank’s establishment. Bank Islam began operations on 1 July 1983, or 20 Ramadan 1403H. The page reproduces remarks by then Prime Minister Tun Dr. Mahathir Mohamad at the official launch. The remarks framed the bank’s purpose as demonstrating, through trusted expertise and effective management, that an Islamic banking system could play a successful role in a modern economy. The supplied About Us page describes a later transition into a fully listed banking institution as a leap into a new era. The materials provided do not give a date for that transition or further details of the bank’s ownership, listing, or corporate reorganizations. The current official site presents Bank Islam as an operating institution, with governance, board, Shariah supervisory, and management structures, and with a range of banking and financial products.

• 1983

  Bank Islam begins operations

• 1981

  Seminar on the Concept of Development in Islam

• 1980

  Bumiputera Economic Congress

• 1975

  First Islamic bank established in Dubai

• 1969

  Tabung Haji established

A listed Malaysian banking institution presenting banking services and products that include Shariah-oriented accounts, cards, and financing.

• Bank Islam Credit Card-i

• Bank Islam Business Credit Card-i

• Bank Islam Debit Card-i

• Basic Savings Account-i

• Basic Current Account-i

• Vehicle Financing-i

• Unit trusts

• 2019.12.16

  Cenergi Sunseap JV secures RM24 million credit facility for solar project[5]Cenergi Sunseap合资公司为太阳能项目取得2400万令吉信贷额度theedgemalaysia.com

  Cenergi Sunseap Energy Solutions, a joint venture between Cenergi EE Holdings and Sunseap International, secured a credit facility of up to RM24 million from Bank Islam Malaysia for IRM Solar’s working capital and capital expenditure, including refinancing project development and construction costs.

Read more

1. 1Bank Islam Malaysia Berhadbankislam.com
2. 2Our History – Bank Islam Malaysia Berhadbankislam.com
3. 3About Us – Bank Islam Malaysia Berhadbankislam.com
4. 4Leadership – Bank Islam Malaysia Berhadbankislam.com
5. 5Cenergi Sunseap合资公司为太阳能项目取得2400万令吉信贷额度theedgemalaysia.com