CIMB Islamic Bank Berhad (“CIMB Islamic”), licensed under Malaysia’s Islamic Financial Services Act 2013, is the main operating entity of CIMB Group’s global Islamic banking and finance franchise. It offers Shariah-compliant products and services to CIMB Group’s consumer banking, commercial banking, wholesale banking and asset management businesses.
CIMB Islamic’s services, products and operations comply strictly with global Shariah principles and standards under the guidance of the CIMB Islamic Board Shariah Committee, which comprises world renowned Shariah experts and scholars. CIMB Islamic provides comprehensive and innovative Shariah-compliant financial products and services to meet the needs of individuals, small and medium scale enterprises, as well as large institutional customers.
CIMB Group’s Islamic banking and finance business is present in three key markets i.e. Malaysia, Singapore and Indonesia and is supported by the Group’s network of around 28,000 employees in these markets comprising an experienced senior management team and a global team of Islamic banking and financial services professionals in all core components of the Islamic banking and financial services market. The Group has one of the most extensive retail branch networks in these three markets, with 528 branches as at 31 March 2024.
Bank Muamalat Malaysia Berhad is one of three independent full-fledged Islamic financial institutions in Malaysia and started its operations on 1 October 1999. As an Islamic bank, Bank Muamalat Malaysia Berhad operates in accordance with Shariah principles and promote ethical and socially responsible financial practices. The Bank offers various banking services, both retail and wholesale banking services which includes deposits accounts, financing, wealth management solutions, investment accounts, trade financing, treasury services, project and contract financing among others. Embodying “Better lives, together,” Bank Muamalat transcends traditional banking by fostering sustainable and inclusive growth for a better future for all.
Bank Simpanan Nasional (BSN) is a financial institution that provides inclusive financial services accessible to all Malaysians. Established in 1974, BSN has a broad range of products and services, delivered nationwide via extensive channels. BSN’s network comprises 387 branches, 39 Micro Financing Centres, and 10 mobile branches across Sabah, Sarawak, and Pahang. The Bank’s services are further supported by ATMs, Cash Deposit Machines, and Cash Recycler Machines nationwide. BSN has 2,300 Ejen Bank services extending its reach to underserved communities. With a workforce of more than 7,500 employees, BSN serves more than 9 million customers. BSN offers both Conventional and Islamic banking products, including savings, asset management, microfinancing, and credit cards.
The International Islamic Liquidity Management Corporation (IILM) is an international organisation established on 25 October 2010 by central banks, monetary authorities and multilateral organisations to develop and issue short-term Shari’ah-compliant financial instruments to facilitate effective cross-border liquidity management for institutions that offer Islamic financial services (IIFS).
The current members of the IILM Governing Board are the central banks and monetary agencies of Indonesia, Kuwait, Malaysia, Mauritius, Nigeria, Qatar, Türkiye, the United Arab Emirates, as well as the multilateral Islamic Corporation for the Development of the Private Sector.
Membership of the IILM is open to central banks, monetary authorities, financial regulatory authorities or government ministries or agencies that have regulatory oversight of finance or trade and commerce, and multilateral organisations.
The IILM is hosted by Malaysia and headquartered in Kuala Lumpur.
Bayo Pay (M) Sdn Bhd is a digital payment solutions company that provides B2B2X platform enabling card issuing and e-wallet for seamless One-Stop-Payment Solution. Bayo offers a suite of services with advanced fraud prevention, providing a secure, efficient payment processing for employers and employees in Malaysia. Besides salary crediting facility, other features include advance salary access, mobile payments, withdrawals, remittance, bills, marketplace, helping businesses optimise their transaction experience. As Principal Member of Mastercard Asia Pacific, we offer Mastercard digital payment solutions to our clients combined with our proprietary technologies and platform to swiftly expedite any digital payment programme.
