Bank Islam is the first Shariah based banking institution in Malaysia and South East Asia; and has been playing the leading role in the development of the nation’s Islamic banking industry. In fact, it has provided technical assistance in the setting up of several Islamic institutions in the Asian region such as Indonesia, Thailand and Sri Lanka. Incorporated in 1983, it was originally established with the sole purpose of assisting with the financial needs of the Muslim population of Malaysia. Since then, Bank Islam has extended its services to the wider, non-Muslim, population fulfilling its “Banking-for-All” principle.
Today, with over 70 innovative and sophisticated Islamic banking products and services, Bank Islam offers a comprehensive range of Shariah compliant banking and financial solutions to its more than five million customers. Primarily a retail bank with consumer banking constituting more than 70% of total financing, Bank Islam’s list of products ranges from the traditional financing, savings and investment solutions exclusively for individual customers, to banking and financial solutions designed to fulfil the fast-changing financial needs of customers from all categories including those related to micro financing, wealth management, capital market, treasury and structured products. The variety of financial services offered by the Bank has come a long way since its early days when it acted as the lead arranger for the world’s first Sukuk issuance of RM125 million in 1990 by Shell MDS Sdn Bhd.
In serving its ever expanding customer base, Bank Islam currently has the widest dedicated Islamic banking network in Malaysia with 144 branches and more than 1,000 self-service terminals nationwide.
A pioneer in the industry, Bank Islam believes in the importance of innovation and has produced some of the most innovative banking solutions for the market. A strong advocator of ethical and responsible financing, Bank Islam’s pioneering status has also given it an advantage by having a strong brand name and franchise that significantly differentiates it from its competitors – creating an appealing image of being the purest Islamic bank which has attracted and continued to attract a growing, loyal customer base. In addition, the Bank has always been committed to corporate social responsibility, not just by giving back to the community in which it operates but the Islamic finance industry as a whole through knowledge sharing and becoming the source of reference. In the recent years, the Bank not only had exhibited significant improvements in terms of financial performance but applied robust risk management as well to ensure sustainability of growth.
Bank Islam’s vision to become ‘A Global Leader in Islamic Banking’ illustrates its commitment to the expansion of Malaysia’s brand of Islamic finance into the global markets. By placing importance to the service excellence culture, Bank Islam continues to offer only the best and cater to the differing needs of the customers as it strives to uphold its status as the symbol of Islamic banking in Malaysia.
Here’s a snapshot of the best deals on Bank Islam :
Based on a Cardholder that spends RM1,500 / month for a year