How Bank Islam Began

How it all began

Bank Islam emerged as Malaysia’s maiden Shariah-based financial institution when it commenced operations in July 1983. Since then, Bank Islam has become the symbol of Islamic banking in Malaysia. Its vision to be “The Global Leader in Islamic Banking” illustrates its status as the flagbearer of the country’s Islamic financial services industry.

From only RM80 million initially, Bank Islam’s paid-up capital swelled to RM1.73 billion as at June 2007, which was instrumental in making possible the growth of its assets and the implementation of its expansion programmes.

Through a network of 93 branches and more than 345 automated teller machines nationwide, Bank Islam parades a comprehensive list of more than 60 innovative and sophisticated Islamic banking products and services, comparable to those offered by its conventional counterparts.

From the traditional financing, savings and investment types of products exclusively for individual customers in the early years of establishment, the range of Bank Islam’s Shari’ah-based financial products, services and business solutions has significantly expanded to cater to the fast-changing financial needs of all categories of customers including those related to micro financing, wealth management, capital market, treasury and structured products.

Being a pioneer, Bank Islam has played a leading role in promoting the expansion of Malaysia’s brand of Islamic finance into other markets, especially in the region. This has helped develop Bank Islam into a well-established and universally recognised brand.