Bank Islam emerged as Malaysia’s maiden Shariah-based fnancial institution when it commenced operations in July 1983. Sincethen, we have played a key role in developing the country’s Islamic fnancial services industry (IFSI) to the point that Bank Islamis acknowledged as the orerunner o Islamic banking in Malaysia. We have also played a leading role in promoting the “export”o Malaysia’s brand o Islamic fnance to other markets especially in the Asian region. Bank Islam has since developed into awell-established and universally recognised brand, in synch with its vision to become `the global leader in Islamic banking’. As atestament o this pioneering role, Bank Islam was awarded the Reader's Digest Platinum Award 2009 or being the Most Trusted Brandor Islamic Financial Services.From only RM80 million initially, Bank Islam’s paid-up capital swelled to RM1.73 billion as at end-June 2009. This has enabled anexponential growth o our assets and supported other expansion initiatives in particular branch network and delivery channels. Today,our network comprises 100 branches and 730 sel-service terminals nationwide. We oer a comprehensive list o more than 50innovative and sophisticated Islamic inancial products and services, comparable to those oered by our conventional counterparts.In Malaysia and the our corners o the globe, modern-day Islamic inance has observed growing acceptance, recognition andpopularity thanks to its universal values which include among others, equity, airness and transparency apart rom its proven resilienceto withstand shocks. To capitalise on this encouraging trend, Bank Islam has planned to set up another 25 branches in the next 3years and to explore new markets whenever there is easible opportunity. To unlock the huge white-labelling potential, Bank Islam hasrecently participated in the establishment o Amana Bank Limited, Sri Lanka’s irst Islamic bank by acquiring a signiicant stake.Similarly, the type o Shariah contracts applied in Bank Islam’s products has evolved rom
contractsor traditional inancing and deposits to the application o various Shariah contracts including
ormore complex structures including derivatives. As part o the initiatives to share and impart our knowledge and expertise in Islamicinance, we plan to oer consultancy and advisory services related to the implementation o Islamic inance solutions and/or to ensurethat inancial products and services that clients carry out are Shariah compliant.
About Bank Islam