Bank Islam started operations in July 1983 as Malaysia’s first financial institution to operate based on Shariah compliant principles. Since then, Bank Islam has become synonymous with Islamic banking in Malaysia. As the flag-bearer for the country’s Islamic financial services industry, its vision is to be “The Global Leader in Islamic Banking”.
With an initial authorized capital of RM500 million and a paid-up of RM80 million, the bank embraced the huge challenge of breaking new ground. Its authorized and paid-up capital was increased to RM2 billion and RM563 million respectively, over time, to accommodate the growth of its assets and the expansion and growth of its operations.
With a network of 90 branches nationwide, the bank parades a comprehensive list of more than 50 innovative and sophisticated Islamic banking products and services, comparable to those offered by its conventional counterparts.
The Shariah-compliant banking products and services also expanded from the traditional savings and investment types to include leasing, stock broking, unit trust management and treasury related products, catering to the personal and commercial needs of Muslims and non-Muslims alike.
Being a pioneer, Bank Islam played a leading role in promoting the expansion of Malaysia’s brand of Islamic financial services to markets in the region. As a result, the Bank Islam has become a well-established and well-received brand.
Read more at www.bankislam.com.my
