Bank Islam Malaysia Berhad
Bank Islam is the first financial institution to introduce Shariah-compliant banking products in Malaysia. The bank offers a comprehensive range of banking products, including savings account, investment solutions, deposits, and wealth management to its customers. Currently, the bank has more than 145 branches in Malaysia.
Awards and Recognition
- Largest Payment Volume – Islamic Debit Card Award given by Visa Malaysia Bank Awards.
- This bank ranked Top 20 in Malaysia’s 100 Leading Graduate Employers of 2017 for the fourth consecutive year.
- Best Customer Experience in Malaysian e-Payments Excellence Awards. This was awarded by MyClear.
- Best Islamic ESG Bank by The Assets Asian Awards.
- Best Advertising Campaign at the Islamic Business and Finance – South East Asia Awards.
List of Services
- Personal Banking
- Business Banking
List of Products
Deposit and Investment products: Under this category comes the following products:
- Wafiyah Investment Account: Individuals and non-individuals customers can apply for this investment account that is based on Wakalah contract. The available tenures are 1 month, 3 months, and 6 months and the minimum investment amount varies from RM500 to RM1,000.
- Al-Awfar: This is a short term loan product where you can pledge gold or any other accepted security as a collateral. Individuals, religious groups, schools, and clubs can apply for this loan.
- Qard Savings Account-i: This is a savings account that Bank Islam offers to its customers. The minimum balance is RM10.
- Basic Savings & Current Account-i: This account is designed for low-income consumers to ensure that they have access to basic banking services. The minimum balance required is RM20. Malaysian citizens and permanent residents can apply for this account.
- Qard Current Account-i: This current account allows you to plan your financial needs effectively. The minimum amount needed to open an individual account is RM500 and RM1000 to open a non-individual account
- Term Deposit-i: This deposit account allows you to manage funds according to your needs.Individuals and non-individuals can apply for this account.
Bank Islam Credit Card-i: This is a Shariah concept based credit card (based on the Tawarruq concept) that is offered to both Muslims and non-Muslims. It offers many cards, including Bank Islam Visa Infinite Credit Card-i, Bank Islam World Mastercard Credit Card-i, Bank Islam MasterCard Platinum Credit Card-i, and Bank Islam Visa Gold Credit Card-i.
Bank Islam Debit Card-i: This is based on the concept of Ujrah, that is, the payment for services provided by another party. It offers many cards, including Bank Islam Visa Team Harimau Debit Card-i, Bank Islam Visa Kelantan FA “The Red Warriors” Debit Card-i, and Bank Islam Visa Kedah FA Debit Card-i.
Loans products include the following:
Home Financing-i: Bank Islam offers comprehensive and Shariah compliant Home Financing solutions to cater to your financing needs.
Personal Financing-i: This bank offers Personal Financing-i at competitive rates without any extra charge.
- Personal Cash Line-i: You can get personal financing against the bank’s Fixed Deposit, Structured Investment or Unit Trust.
Vehicle Financing-i:This facility allows you to own your dream car under the Murabahah contract. The financing margin is very high and the duration is for 9 years.
Wealth Management: This covers Estate Planning which further encompasses will writing an Hibah.
Electronic Banking: This include the following:
- TAP Mobile Banking-i- You can perform banking services on-the-go without internet connection as well. It operates on a SMS platform that uses PIN and Password security method for extra security. It is compatible with iOS, Android, and Windows.
Credit Card Promotions
The MasterCard Regional Golf promotion is valid till 15 June 2018. This programme is open to all the Principal World Elite as well as World MasterCard cardholders. The account of all the cardholders from Malaysia, Singapore, Thailand, Indonesia, and Philippines should be in good standing. While the Principal MasterCard World Elite cardholders can enjoy complimentary green fee at many golf clubs in 6 countries on both weekends and weekdays, the Principal MasterCard World cardholders can enjoy 50% off on the walk-in green fee at 16 golf clubs in 6 different countries on weekends and weekdays.
More Cash to be won with Bank Islam Mastercard Credit Card-i Campaign: Bank Islam Malaysia Berhad along with Mastercard has organised this campaign. This is valid till March 31 2018 and is open to all Bank Islam Mastercard® Credit Card-i Cardmember who are Malaysian residents and aged 18 and above.
Branches Working Hours
The working hours for the following branches are:
Sarawak and Sabah:
Monday to Thursday -9.30 a.m. - 4.30 p.m.
Friday - 9.30 a.m. - 12.00 p.m. and 2.00 p.m. - 4.30 p.m.
Kelantan and Terengganu:
Sunday to Thursday: 9.30 a.m. - 4.30 p.m.
All the other states:
Monday to Thursday - 9.30 a.m. - 4.30 p.m.
Friday: 9.30 a.m. - 12.30 p.m. and 2.30 p.m. - 4.30 p.m.
Here is the head office address of the bank:
Bank Islam Malaysia Berhad
Level 32, Menara Bank Islam
No. 22, Jalan Perak
50450 Kuala Lumpur
Customer Care Number
For any query, request, or feedback that you may have about the products and services of the bank, you can get in touch with the bank representatives through the following contact numbers:
- General Line - +603 2088 8000
- Contact Centre - +603 26 900 900
Write an email to firstname.lastname@example.org if you have any queries.
Q. What is the eligibility criteria for Ar-Rahnu?
A. The following is the eligibility criteria:
- Malaysian citizens, permanent residents, or foreign nationals with a valid work permit.
- Age should be 18 years and above.
- Possess a valid identity card.
- Must be financially stable.
- Valid contact number and local address.
Q. Are there any charges for Cash Withdrawal at MEPS ATM?
A. Yes. RM1.06 is charged for every transaction.
Q. Can I use TAP Mobile Banking while I am overseas?
A. Yes. It is available for overseas usage as well.
Q. What is Bank Islam’s current Base Rate?
A. As of 30 January 2018, the Base Rate is set at 3.90% p.a.
Q. What is the profit rate for Vehicle Financing-i?
A. The profit rate for National vehicle ranges from 3.00% to 3.60% per year and for non National vehicle varies from 2.90% to 3.35% per year.
Q. What are the documents required for Baiti Home Financing?
A. The following documents are required for Baiti Home Financing:
- A copy of your identity card.
- Sales & Purchase Agreement
For salaried persons: Consecutive 3 months pay slips. Consecutive 3 months salary crediting account statements. Employer’s confirmation letter Annual Income Statement
For businessmen: Business Registration Latest 6 months’ Bank Statements Consecutive 3 years Financial Statement Latest B Form
Refer to the bank’s website or visit the nearby branch to know more about the products and services. offered by Bank Islam and choose the one that you need. read the fine print thoroughly before applying for personal loan or a credit card.