Bank Islam Malaysia Berhad is the first Islamic bank in Malaysia, established in 1983 under the Islamic Banking Act 1983. Headquartered in Kuala Lumpur, the bank was formed as part of a government initiative to develop a Sharia-based financial system at the national level. The establishment of Bank Islam Malaysia marked a significant milestone in the growth of the Islamic banking industry, not only within Malaysia but also on a global scale.
Throughout its history and leadership development, Bank Islam Malaysia was founded with the backing of the government and various national financial institutions. A prominent figure in the early development of Malaysia’s Islamic financial sector was Daim Zainuddin, who played a pivotal role in economic policies that fostered the birth of Sharia-compliant banking. Today, the bank’s operations are managed by a professional board of directors and overseen by a Sharia Supervisory Board to ensure that all business activities strictly adhere to Islamic principles.
Bank Islam Malaysia operates in the financial services and Islamic banking sector, providing a comprehensive range of services such as Sharia-compliant savings and deposit accounts, home financing, vehicle financing, business financing, as well as treasury services and digital banking. These products and services are designed to meet the needs of both individuals and businesses while remaining firmly grounded in Sharia principles. Driven by its commitment to innovation, Sharia compliance, and service excellence, Bank Islam Malaysia continues to play a vital role in strengthening the Islamic finance industry and supporting economic growth in Malaysia.
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