INTRODUCTION

Islamic banking is a banking system that follows Islamic law, often known as Shariah
law. Mutual risk and profit sharing between parties, the assurance of fairness for all,
and the fact that transactions are based on an underlying economic activity or asset
are the core concepts that regulate Islamic banking. Money must not be allowed to
create more money under Islamic law. Instead, a bank must “earn” its earnings by
providing some kind of service. As a result, rather than typical accounts with fixed
interest rates, Islamic banks offer profit/loss accounts. The Islamic bank's major duty
is to stimulate trade activities as an active contact with the economy's surplus and
deficit units. The Islamic bank's secondary duty is to provide agency services and
other market-compatible products to its customers.

CIMB Group is one of Islamic banking in Malaysia. It is a significant ASEAN

universal bank and a major corporate advisor in the area. It also leads the globe in
Islamic finance. Consumer banking, commercial banking, investment banking,
Islamic banking, and asset management are among the goods and services offered
by the group, which is based in Kuala Lumpur, Malaysia. It is ASEAN's sixth largest
banking company by assets, with over 34,000 employees and over 16 million
customers as of December 2020. The CIMB Halal Corridor is a global commerce
network that connects halal enterprises in ASEAN and beyond.

With a global halal market of USD6.4 trillion and ASEAN housing the world's
biggest Muslim population, CIMB can help businesses tap the potential of these
thriving halal markets through its ecosystem of partners, which includes certification,
supply, logistics as well as fulfillment across the value chain.