MalaysianUpdates

Tag: #BANKISLAM

  • Terbitan Sukuk Murabahah Bank Islam: Langkah Mapan dalam Perbankan Islam

    Terbitan Sukuk Murabahah Bank Islam: Langkah Mapan dalam Perbankan Islam

    Bank Islam Malaysia Berhad (Bank Islam) hari ini berjaya mengeluarkan tranche ketujuh Sukuk Murabahah Subordinat berjumlah RM250 juta di bawah Program Sukuk Murabahah bernilai RM10 bilion.

    Sukuk ini diiktiraf sebagai modal kawal selia Aras 2 bagi Bank Islam dan mematuhi Rangka Kerja Kecukupan Modal yang ditetapkan oleh Bank Negara Malaysia (BNM), selaras dengan keperluan Basel III untuk memperkukuh kedudukan modal bank.

    Sukuk Murabahah ini boleh ditebus pada nilai nominal sepenuhnya setelah mencapai tempoh matang, dengan opsyen pembelian semula pada ulang tahun kelima. Ia juga telah diberikan penarafan A1/Stabil oleh RAM Rating Services Berhad.

    Sebagai Penasihat Utama, Pengatur Utama, Ketua Pengurus, dan Penasihat Syariah bagi program ini, Bank Islam memainkan peranan penting dalam pelaksanaan penerbitan sukuk tersebut.

  • Solid Growth: Bank Islam Group Records RM571.1 Million Net Profit in FY2024

    Solid Growth: Bank Islam Group Records RM571.1 Million Net Profit in FY2024

    Bank Islam Malaysia Berhad (Bank Islam or the Group) closed FY2024 on a positive note, recording a net profit of RM571.1 million, reflecting a 3.3% growth from the previous year. Earnings per Share rose to 25.20 sen, while the net Return on Equity stood at 7.6%. The profit increase was driven by stronger net income and a substantial reduction in net allowance for impairment on financing, reinforcing the Group’s financial stability.

    The Group’s net fund-based income expanded by 5.1% to RM2.2 billion, supported by y-o-y investment securities and financing growth. Its net income margin (NIM) improved to 2.13%, and fee and commission income increased by 11.2%. A 46.0% reduction in net allowance for impairment on financing and advances lowered financing credit cost to 0.14%, down from 0.26% in FY2023. Bank Islam’s gross impaired financing ratio remained strong at 1.06%, well below the industry benchmark of 1.44%.

    In line with its commitment to shareholder value, Bank Islam declared a second interim single-tier dividend of 4.12 sen per share, bringing total dividends for the year to 15.12 sen per share. The Group’s total assets expanded to RM96.8 billion, marking a 6.4% y-o-y increase, supported by steady investment securities and financing growth. Consumer financing grew by 6.3%, and commercial financing by 6.7%, although corporate financing declined slightly, leading to an overall 3.8% y-o-y increase in gross financing to RM70.2 billion. Meanwhile, customer deposits and investment accounts saw a 6.4% y-o-y increase to RM80.9 billion, with CASATIA contributing 39.7% to total deposits.

    A major highlight of 2024 was Bank Islam’s ongoing digital transformation, marked by the successful launch of BIMB Mobile and BIMB Web in November. These advanced banking platforms offer seamless, branchless banking solutions with enhanced security and usability. To date, nearly one million customers have migrated to these new platforms, solidifying the Group’s progress in digital banking.

    Bank Islam Group Chief Executive Officer, Dato’ Mohd Muazzam Mohamed, highlighted the significance of digital innovation in Islamic banking. “We are actively integrating technology into our services to drive customer-centric solutions, strengthen security, and remain ahead of industry trends,” he said.

    Moving into 2025, Bank Islam is set to enhance its growth by focusing on cost efficiency, business expansion, and strategic digital investments. Key areas of focus include strengthening Wealth Management, Ar-Rahnu, and bureau-de-change services, while enhancing collaboration with BIMB Investment Management Berhad and BIMB Securities Sdn Bhd. Additionally, the Group aims to invest in environmentally sustainable assets, reinforcing its commitment to responsible banking.

    Sustainability remains a key strategic pillar, with Bank Islam planning to mobilize RM28 billion in sustainable financing by 2025. The Group’s initiatives are centered on supporting a low-carbon economy, fostering financial inclusion, and upholding strong governance principles.

    “As we look ahead, we remain committed to innovation, sustainability, and financial prudence. Our strategic initiatives will continue to drive Bank Islam towards a future-ready, Shariah-compliant banking ecosystem,” Mohd Muazzam concluded.

  • Bank Islam Shines as the Most Innovative Islamic Bank of the Year

    Bank Islam Shines as the Most Innovative Islamic Bank of the Year

    Bank Islam Malaysia Berhad (Bank Islam or The Group) is deeply honoured to have received the prestigious IFN Award for its outstanding contributions to the Islamic finance industry. This recognition highlights the Group’s continued commitment to innovation, resilience, and excellence within the Shariah-compliant banking sector.

    The IFN Awards celebrate institutions that have demonstrated exceptional leadership, innovation, and excellence in Islamic finance. Bank Islam’s receipt of this award further reinforces its position as a trailblazer in Shariah-compliant banking and a key player in shaping the future of Islamic finance.

    Dato’ Mohd Muazzam Mohamed, Group Chief Executive Officer of Bank Islam, expressed his pride in receiving the award, attributing the achievement to the collective efforts of the bank’s team. He emphasized that Bank Islam’s success is built on its commitment to providing responsible, ethical, and innovative financial solutions in alignment with Shariah principles. This approach continues to meet the evolving needs of customers in a rapidly changing financial landscape.

    “On behalf of the management, I would like to express my sincere gratitude to our dedicated team for their relentless efforts in creating innovative and impactful Islamic banking solutions. We are deeply thankful for the trust and support from our customers, and in return, we will continue to integrate new technologies and strategies to better serve them,” said Dato’ Mohd Muazzam.

    As a pioneer in Islamic banking in Malaysia, Bank Islam remains at the forefront of driving innovation and digitalization, creating more efficient, inclusive, and customer-centric banking experiences. The recognition from the IFN Awards strengthens the bank’s commitment to advancing the Islamic financial ecosystem, ensuring its long-term sustainability, and preparing for future growth.

    Bank Islam’s Group Chief Operating Officer and Group Chief Sustainability Officer, Mohamed Iran Moriff Mohd Shariff, received the award on behalf of the bank at the IFN Award ceremony, which took place at EQ Hotel Kuala Lumpur on 20 February 2025.

    This prestigious award further cements Bank Islam’s reputation as a leader in the Islamic finance industry, driving the future of Shariah-compliant banking with innovative and sustainable solutions.

  • Bank Islam Sedia Bantuan Kewangan untuk Mangsa Banjir Seluruh Malaysia

    Bank Islam Sedia Bantuan Kewangan untuk Mangsa Banjir Seluruh Malaysia

    Bank Islam Malaysia Berhad (Bank Islam) telah mengumumkan pelancaran semula Program Prihatin Banjir bagi membantu pelanggan pembiayaan yang terjejas akibat banjir yang melanda beberapa kawasan di seluruh Malaysia. Program ini menawarkan penangguhan ansuran bulanan sehingga enam (6) bulan bagi pelanggan yang terkesan oleh bencana ini, termasuk mereka yang mempunyai Pembiayaan Rumah, Peribadi, dan Kenderaan-i. Penangguhan tersebut adalah tertakluk kepada terma dan syarat yang ditetapkan.

    Selain itu, Bank Islam juga memberikan perkhidmatan penggantian percuma untuk kad kredit, kad debit-i, dan buku cek yang rosak atau hilang akibat banjir.

    Bagi membantu perniagaan mikro, kecil dan sederhana (PKS) yang turut terjejas, Bank Islam menyediakan pembiayaan di bawah Kemudahan Bantuan Bencana. Kemudahan ini ditawarkan kepada PKS yang terjejas di kawasan yang telah dikenal pasti oleh Agensi Pengurusan Bencana Negara (NADMA). Melalui program ini, PKS yang layak boleh mendapatkan pembiayaan untuk membaik pulih atau menggantikan aset perniagaan yang rosak akibat banjir, seperti kilang dan mesin, serta menyediakan modal kerja yang diperlukan.

    Selain itu, moratorium sehingga enam (6) bulan juga disediakan kepada pelanggan PKS sedia ada yang terjejas di kawasan yang dikenal pasti oleh NADMA. Bantuan kewangan ini merangkumi semua kemudahan kredit yang mempunyai pembayaran berjadual atau berdasarkan kontrak, terutamanya Kemudahan Pembiayaan Berjangka, Kredit Berpusing & Kemudahan Garis Tunai serta Kemudahan Perdagangan.

    Menurut Ketua Pegawai Eksekutif Kumpulan Bank Islam, Dato’ Mohd Muazzam Mohamed, pihak bank sentiasa memantau keadaan semasa di kawasan yang terjejas dan mengambil langkah proaktif untuk memudahkan proses permohonan bantuan. Beliau menegaskan bahawa kesejahteraan komuniti adalah keutamaan Bank Islam dan mereka berharap program ini dapat meringankan beban kewangan pelanggan dalam waktu yang sukar ini.

    Permohonan bantuan di bawah Program Prihatin Banjir boleh dibuat di cawangan Bank Islam yang terdekat dalam tempoh tiga (3) bulan dari insiden bencana. Untuk maklumat lanjut, pelanggan boleh mengunjungi laman web korporat Bank Islam di www.bankislam.com atau menghubungi Pusat Panggilan Bank Islam di contactcenter@bankislam.com.my atau 03-26 900 900.

    Bagi pelanggan Pembiayaan Perniagaan-i yang terjejas, mereka boleh membuat pertanyaan dan permohonan bantuan melalui cawangan Bank Islam terdekat atau e-mel di sme-assist@bankislam.com.my.

  • Transformasi Digital Bank Islam: Platform Perbankan Terbaharu untuk Pelanggan

    Transformasi Digital Bank Islam: Platform Perbankan Terbaharu untuk Pelanggan

    Bank Islam Malaysia Berhad (Bank Islam) hari ini memperkenalkan platform perbankan digital terbaharu, BIMB Mobile (aplikasi mudah alih) dan BIMB Web (akses melalui web.bimb.com). Inisiatif ini menandakan langkah penting Bank Islam dalam memberikan pengalaman perbankan yang lebih lancar dan selamat kepada lebih empat juta pelanggan di seluruh negara.

    Direka untuk memenuhi keperluan pelanggan yang sentiasa berubah, kedua-dua platform ini menawarkan fungsi perbankan komprehensif yang memudahkan pengguna mengurus kewangan mereka secara fleksibel dan yakin. Dengan rekaan intuitif dan ciri keselamatan terkini, BIMB Mobile dan BIMB Web memberikan kemudahan maksimum serta kawalan penuh terhadap transaksi tanpa had masa atau lokasi.

    Pelancaran BIMB Mobile dan BIMB Web menjadi tonggak penting dalam perjalanan transformasi digital Bank Islam. Platform ini menampilkan teknologi moden serta fungsi yang diperbaharui untuk memenuhi permintaan pelanggan dan amalan terbaik dalam industri perbankan. Di samping menawarkan perkhidmatan yang lebih stabil dan selamat, kedua-duanya juga menyediakan reka bentuk mesra pengguna yang sesuai untuk semua lapisan pelanggan, termasuk mereka yang kurang berpengalaman dengan teknologi.

    Menurut Ketua Pegawai Operasi Kumpulan Bank Islam, Mohamed Iran Moriff Mohd Shariff, platform baharu ini dirancang untuk menyokong skala penggunaan yang lebih besar dan menawarkan keupayaan teknologi lebih canggih. “Kami mengambil maklum balas pelanggan sebagai inspirasi untuk menghasilkan platform dengan antara muka moden dan ciri pintar. Ini memberi pengalaman perbankan yang dipertingkat sesuai dengan gaya hidup digital masa kini, tanpa mengira tahap kemahiran teknologi pelanggan. Dengan platform ini, kami juga memperkukuh konsep perbankan tanpa cawangan yang menyediakan kemudahan maksimum kepada pelanggan kami,” katanya.

    BIMB Mobile dan BIMB Web dirancang untuk menjadi platform fleksibel yang boleh disesuaikan dengan perubahan pasaran masa depan. Teknologi ini membolehkan Bank Islam menambah kapasiti, memperkenalkan ciri baharu, dan menguruskan pertumbuhan trafik dengan lebih cekap. Bank optimis bahawa pelanggan akan menyambut baik perubahan ini dan terus memberikan maklum balas untuk memperhalusi perkhidmatan.

    Sejak diperkenalkan lima tahun lalu, aplikasi GO by Bank Islam telah digunakan secara aktif oleh 1.9 juta pelanggan. Setakat Oktober 2024, Bank Islam telah merekodkan 5.9 bilion transaksi dalam talian, dengan 3.5 bilion daripadanya dilaksanakan melalui platform Perbankan Internet Bank Islam (IB) di www.bankislam.biz.

    Pelanggan baharu serta pengguna sedia ada aplikasi GO by Bank Islam kini boleh memuat turun aplikasi BIMB Mobile menerusi Apple AppStore, Google PlayStore, atau Huawei AppGallery untuk menikmati pengalaman perbankan yang lebih baik. Platform GO by Bank Islam dan IB akan terus beroperasi bagi memastikan tiada gangguan perkhidmatan sepanjang tempoh peralihan. Platform lama ini dijadualkan akan dihentikan sepenuhnya menjelang November 2025.

    Untuk maklumat lanjut, pelanggan boleh melayari laman web rasmi di www.bimb.com atau menghantar e-mel ke bimb.commandcentre@bankislam.com.my untuk mendapatkan bantuan.

    Dengan pelancaran BIMB Mobile dan BIMB Web, Bank Islam terus membuktikan komitmennya dalam menyediakan perkhidmatan perbankan digital yang relevan dan dinamik demi memenuhi keperluan pelanggan masa kini.

  • INASIS BANK ISLAM SUNTIK MOTIVASI MAHASISWA UUM TINGKAT PRESTASI

    Bank Islam Malaysia Berhad (Bank Islam  atau Bank), hari ini menandatangani Memorandum Perjanjian (MoA) Peruntukan dan  Penjenamaan Inapan Siswa (Inasis) Universiti Utara Malaysia (UUM) kepada Inasis Bank  Islam.

    Penjenamaan baharu ini melibatkan kos penajaan bernilai RM350,000 dalam bentuk  Dana Endowmen bagi tempoh 10 tahun bermula 2024 yang melibatkan lapan (8) buah  blok kolej demi manfaat 1,028 mahasiswa di inapan siswa berkenaan.

    Ketua Pegawai Eksekutif Kumpulan Bank Islam, Dato’ Mohd Muazzam Mohamed  berkata, kolaborasi antara Bank Islam dan UUM telah bermula sejak tahun 2005 dengan  pembukaan cawangan Bank Islam di UUM, Sintok, disusuli pengenalan kad debit-i  jenama bersama UUM-Bank Islam Unidebit serta program universiti tanpa tunai pada  tahun 2014. Kini, kerjasama ini diteruskan dengan penjenamaan baharu kampus

    kediaman, Inasis Bank Islam.

    “Kami turut memperuntukkan sejumlah RM50,000 untuk menaik taraf kemudahan asas dan blok-blok kediaman Inasis Bank Islam demi keselesaan mahasiswa. Usaha ini  diharap dapat memberi peluang kepada mahasiswa untuk belajar dalam keadaan yang  lebih kondusif.

    “Sehubungan itu, bagi melengkapi usaha UUM dalam mendidik generasi muda berilmu  negara, Bank Islam akan menyediakan peluang latihan kepada graduan-graduan UUM,”  tambah Dato’ Mohd Muazzam.

    Ujar beliau lagi, sebagai sebuah institusi perbankan Islam ulung yang ditubuhkan 40  tahun lalu, Bank Islam amat berbangga dapat berkolaborasi dengan UUM, sebuah  institusi pengajian tinggi yang terkemuka di negara ini.

    “Bank Islam turut berkongsi rezeki dan kemakmuran bersama warga UUM melalui  sumbangan dana zakat sebanyak RM30,000 pada tahun 2022 dan 2023. Ia telah  dimanfaatkan pelajar-pelajar kurang berkemampuan untuk meneruskan pengajian  mereka di UUM.”

    Memorandum perjanjian tersebut ditandatangani oleh Ketua Pegawai Eksekutif Kumpulan Bank Islam, Dato’ Mohd Muazzam Mohamed dan Naib Canselor UUM, Prof.  Dr. Mohd. Fo’ad Sakdan.

    Turut menyaksikan majlis menandatangi memorandum perjanjian antara Bank Islam dan  UUM ialah Pengarah Deposit dan Kad Bank Islam, Mohd Noor Jab dan Timbalan Naib  Canselor (Hal Ehwal Pelajar Dan Alumni) UUM, Prof. Dr. Ahmad Martadha Mohamed.

    Dalam ucapan Naib Canselor UUM, Prof. Dr. Mohd Fo’ad berkata, jutaan terima kasih  kepada Bank Islam atas kesudian menaja dan menjenamakan semula Inasis ini kepada  Bank Islam.

    Menurutnya, kompleks kediaman pelajar tersebut merupakan kompleks kelima yang  dibina di kampus UUM pada awal tahun 1991 dan mampu menyediakan kediaman untuk lebih 1,000 pelajar.

    Beliau juga menyatakan harapan supaya jalinan kerjasama ini akan dapat membantu  kedua-dua pihak dalam meningkatkan percambahan ilmu, khususnya dalam bidang  keusahawanan dan perniagaan, dalam kalangan pelajar UUM.

    Dalam mengukuhkan hubungan baik sedia ada, Bank Islam dan UUM akan  menggunakan peluang yang wujud bagi memacu kapasiti ekosistem keusahawan sosial  di UUM termasuk penganjuran program-program seperti Impak Rangkuman Kewangan,  Inkubasi Usahawan dan Celik Kewangan, kerjaya dan peluang latihan industri di kampus  UUM.

    Mengenai Bank Islam Malaysia Berhad (No. Pendaftaran Syarikat [198301002944(98127-X)]

    Bank Islam adalah institusi perbankan Islam pertama di Malaysia yang disenaraikan di Papan  Utama, Bursa Malaysia Berhad. Ditubuhkan pada bulan Julai 1983 sebagai institusi perbankan  Islam pertama di Malaysia, Bank Islam mempunyai 135 cawangan dan lebih daripada 900  terminal layan diri di seluruh negara. Sebagai institusi perbankan Islam lengkap dan tulen, Bank  Islam menyediakan penyelesaian perbankan dan kewangan yang mematuhi undang-undang dan  prinsip Syariah dengan ketat serta komited terhadap hasrat kemakmuran lestari dan nilai-nilai  ESG. Anak syarikat utama Kumpulan Bank Islam adalah perintis dalam pelbagai perkhidmatan  kewangan Islam, termasuk pelaburan dan pembrokeran saham, iaitu BIMB Investment  Management Berhad dan BIMB Securities Sdn Bhd. Untuk maklumat lebih lanjut mengenai  produk dan perkhidmatan kumpulan Bank Islam, layari www.bankislam.com

    Untuk maklumat lanjut, sila emel ke: media@bankislam.com.my

  • Bank Islam Advances Prosperity for All Through Impact Investment

    Malaysia’s pioneering Islamic bank, Bank  Islam Malaysia Berhad (Bank Islam or the Bank), introduces its latest offering, the Ihsan  Sustainability Investment Account (ISIA). The innovative product is tailor-made to deliver positive social and environmental impact through Social Finance, in addition  to financial returns. Simultaneously, it is designed for clients seeking stable short-term  investments to navigate the uncertainties often associated with equities and fixed income investments.

    Bank Islam Group Chief Executive Officer, Dato’ Mohd Muazzam Mohamed, said, “As  an Islamic Bank, doing good and well is ingrained in us. Aligned with Maqasid Shariah,  ISIA reflects our commitment to advancing prosperity for all. Through ISIA, we enable  investors to join us in shaping a nature-positive economy by venturing into Islamic  Finance potentials.”

    ISIA was first offered for a period between 25 October 2023 and 24 November 2023  and is available for High-Net-Worth individuals and non-individual investors with a  minimum investment amount of RM50,000 for individuals and RM1 million for non individuals, respectively.

    Due to overwhelming demand, the Bank has extended the offer period from 27  November until 14 December 2023, while a new investment date is set for 15  December 2023. ISIA offers an indicative 4.50%* return per annum (p.a.), where 2.50%  portion of the profit will be contributed to Pusat Pungutan Zakat Majlis Agama Islam  Wilayah Persekutuan (PPZ-MAIWP) or Bank Islam Sadaqa House. This is one of the  social elements incorporated in this campaign feature. The profit will be distributed semi-annually and within the investment tenure of 24 months.

    ISIA is the pioneering Investment Account designed to offer investors access to ESG or SDG-aligned financing assets curated to support the United Nations (UN) Sustainable  Development Goals (SDG) objectives and favourable Climate Change and Principle Based Taxonomy (CCPT) classification as per Bank Negara Malaysia’s (BNM)  framework. The funds will be invested in a diversified portfolio of the Bank’s non-retail  assets involving renewable energy, green financing, clean transportation, clean  water and sanitation, and other sectors that contribute to creating sustainable cities  and community goals. The Bank has established a rigorous oversight framework that  involves meticulous processes such as thorough due diligence, comprehensive  impact assessment, and continuous monitoring of the fund.

    Beyond financial returns, investors can make a meaningful impact on social causes  through collaboration with PPZ-MAIWP or Bank Islam Sadaqa House, which is also  entitled to tax deductions. The amount contributed enables selected changemakers  under Sadaqa House to continue their efforts in empowering the underserved  community.

    “Bank Islam is committed to transparency and accountability, and we’re determined  to make a tangible difference in the communities and ecosystems we serve. These  commitments are critical to ensure that every cent of the social impact contribution  from ISIA’s returns goes toward creating meaningful and lasting change. Clients’  investments with ISIA aren’t just financials in value; they are investments in a brighter,  more sustainable future for all,” Dato’ Mohd Muazzam adds.

    To learn more about the ISIA, visit https://www.bankislam.com/personal banking/deposit-and-investments/investments/ihsan-sustainability-investment account-isia/.

  • BANK ISLAM ANNOUNCES CHANGES TO ITS BOARD AND WELCOMES A NEW MEMBER OF THE SHARIAH SUPERVISORY COUNCIL

    Bank Islam Malaysia Berhad (Bank Islam or the  Bank) has announced changes to its Board composition and an appointment of a new  member to its Shariah Supervisory Council. Tuan Syed Hamadah Syed Othman will be appointed as the Non-Independent Non-Executive Director, while Associate Professor Dr  Nurul Aini Muhamed is joining the Shariah Supervisory Council, effective 1 January 2024.  Meanwhile, Datuk Bazlan Osman will replace Encik Azizan Ahmad, who will be retiring from  his position as the Senior Independent Non-Executive Director, with effect from 2 January  2024.

    Tuan Syed Hamadah’s appointment will strengthen the Group’s Board composition as Bank  Islam remains steadfast in executing its five-year strategy roadmap (LEAP25), aimed at becoming the champion in Shariah-compliant environmental, social, and governance  (ESG) total financial solutions, with leadership in digital banking and social finance.

    Tuan Syed Hamadah is currently the Group Managing Director & Chief Executive Officer of  Lembaga Tabung Haji, a Board Member of the Private Pension Administrator Malaysia, TH  Plantations Berhad and TH Properties Sdn Bhd. He is also the Director and a Senior Partner  of Actuarial Partners Consulting Sdn Bhd.

    He was formerly the Chief Executive Officer of Retirement Fund Incorporated, consulting  actuarist at Mercer Zainal Consulting Sdn Bhd and technical analyst at Petronas Trading  Corporation Sdn Bhd.

    Tuan Syed Hamadah obtained his Scottish Higher Education Certification from Clydebank  College, United Kingdom (UK). He holds a Bachelor of Science in Actuarial Mathematics  and Statistics from Heriot-Watt University, Edinburgh, UK. He is also a Fellow of the Faculty  and Institute of Actuaries, UK, and a Fellow of the Actuarial Society, Malaysia.

    Associate Professor Dr Nurul Aini currently serves as an Associate Professor at the Faculty of  Economics and Muamalat, Universiti Sains Islam Malaysia (USIM), a Shariah Committee

    member at Great Eastern Takaful Berhad, Wakaf Felda, and Perbadanan Tabung  Pembangunan Kemahiran (PTPK). She is also an active member of the Malaysian Muamalat  Association (MMA) and the Association of Shariah Advisors in Islamic Finance (ASAS). As an  academician, her focus encompasses Islamic Banking and Finance, Islamic Transaction  Law, Halal Management, and Governance. She plays an active role in the academic world  with contributions in research, publications, trainings and presentation in the fields of Shariah  and Islamic finance.

    Her extensive experience extends to her prior roles as the Deputy Director at Wakaf and  Zakat Centre, USIM, and a Shariah Committee member at BNP Paribas Malaysia Berhad,  Hong Leong Islamic Bank Berhad and Hong Leong MSIG Takaful.

    Associate Professor Dr Nurul Aini obtained her undergraduate degree in Shariah  Management from the University of Malaya, Master of Business Administration (MBA) from  Universiti Kebangsaan Malaysia, and Master of Islamic Finance Practice from INCEIF. She  also holds a Doctorate in Business and Management from the University of South Australia.

    Bank Islam’s Chairman, Tan Sri Dr Ismail Haji Bakar, said, “On behalf of the Board, I warmly  congratulate and welcome Tuan Syed Hamadah and Associate Professor Dr Nurul Aini to  Bank Islam Group. Given their knowledge and experience, we eagerly anticipate their contributions to our growth and stewardship towards greater heights.”

    He also recorded his profound appreciation to Encik Azizan for contributing to Bank Islam’s  growth over six years. “We value Encik Azizan’s leadership, insights, and dedication in  shaping the success of the Bank.”

    Encik Azizan joined Bank Islam as a Director on 2 January 2018. Throughout his service in the  Group, Encik Azizan has served various roles within the Board, including as the Chairman of  the Board Risk Committee and Nomination and Remuneration Committee, and a Member  of the Board Financing Review Committee.

  • BANK ISLAM’S STRATEGIC MOVE: FIFTH TRANCHE OF RM400 MILLION SUKUK MURABAHAH RELEASED.

    This image has an empty alt attribute; its file name is Bank%20Islam%20Logo.jpg

    Under its RM10.0 billion Sukuk Murabahah Programme, Bank Islam Malaysia Berhad (Bank Islam) has successfully issued its fifth tranche of Subordinated Sukuk Murabahah, amounting to RM400.0 million.

    The Sukuk Murabahah shall qualify as Tier 2 regulatory capital of Bank Islam in compliance with Bank Negara Malaysia’s Capital Adequacy Framework for Islamic Banks (Capital Components). Hence, it will enhance the capital adequacy of Bank Islam in line with the Basel III requirements.

    The Sukuk Murabahah, which will be redeemed at its full nominal value upon maturity, comes with a call option on its fifth anniversary and is rated A1/stable by RAM Rating Services Berhad.

    Bank Islam is the principal adviser, lead arranger, lead manager, and Shariah adviser for the Sukuk Murabahah program.

  • QWORK AND BANK ISLAM COLLABORATE TO DRIVE FINANCIAL INCLUSION AND EMPOWER THE GIG ECONOMY

    By establishing its strategic cooperation with Qwork, Bank Islam Malaysia Berhad (Bank Islam or the Bank) continues to advance financial inclusion and empower disadvantaged populations. This ground-breaking, community-driven website links companies with a wide range of qualified freelancers.

    With this partnership, Bank Islam aims to tap into Qwork’s extensive pool of gig workers via  its intuitive platform to provide flexible financial solutions tailored to the needs of  freelancers. By leveraging Qwork’s diverse talent network, Bank Islam aims to address the  growing workforce segment’s economic challenges and offer them access to Shariah compliant banking products and services.

    Bank Islam can promote Qwork’s advertised jobs within its Be U By Bank Islam app, which  is 100% digital. Aside from accessing banking services, customers can use the ‘Gig  Marketplace’ feature within the app to find income opportunities provided by Qwork.  The effort aligns with Be U’s endeavors in responding to the needs of young adults who  seek to earn spare cash through short-term jobs.

    Bank Islam Group Chief Digital Officer, Noor Farilla Abdullah expressed her enthusiasm  about the partnership. She stated, “We are delighted to collaborate with Qwork in our  ongoing efforts to bolster the overall Be U app. Incorporating this use case into the app  will empower users to handle their finances and earn their living. With everything on a  single platform, users can easily track and manage their finances and access tailored  solutions that cater to freelancers. This partnership aligns perfectly with our commitment 

    to serving the needs of the underserved communities and promoting equitable financial  practices.”

    Earlier in September 2023, Be U by Bank Islam launched its debit card that is 100% issued,  delivered, and managed through the app. Apart from providing convenient payment  services, the Be U by Bank Islam app continues to release customer-centric solutions  designed for the younger generation and freelancers. Bank Islam plans to introduce  flexible financing options, digital payment solutions, and financial planning services in the  Be U app.

    By understanding the unique needs and challenges of the freelance community, the  Bank aims to provide them with the support and tools necessary to thrive in today’s  dynamic economy.

    Qwork’s CEO, Muna Munirah, highlighted the importance of the partnership, stating, “We  are thrilled to partner with Bank Islam to empower freelancers and provide them with  access to Islamic banking products and services. This collaboration aims to democratise  benefits with the likes of working for an MNC for the gig workers, a.k.a freelancers on  Qwork.”

    Bank Islam and Qwork are confident that this partnership will significantly impact the  freelance community, fostering financial stability and unlocking new growth  opportunities. By combining their expertise and resources, both organisations are  committed to creating an ecosystem that supports the financial aspirations of  freelancers, ultimately contributing to the growth and development of the Malaysian  economy.