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Send to friendMaybank Islamic Banking Group (MIBG) is the Islamic banking arm of the Maybank Group. In alignment with the Group’s aspirations, our strategy is to become the leading Islamic Bank in ASEAN by 2015. MIBG which focuses on managing and setting strategies for the overall Group Islamic banking business, is strongly supported by the House of Maybank and is driven by both the Group’s Islamic First policy and by our growth targets for Islamic business.
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“The phenomenal growth potential for Islamic banking has enabled MIB to consistently achieve double digit growth in revenue. We foresee that this will continue through income-stream diversification via Islamic investment banking, Islamic wealth management and our International Business Currency Unit (ICBU). Moving forward, we are strengthening our presence in markets that have the potential to carry the Islamic banking industry to the next level.” Muzaffar Hisham |
Highlights
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In Malaysia, Maybank Islamic Berhad (MIB) dominates the Islamic banking industry with a leading market share in the retail financing and deposits segments. Regionally, we are the largest Islamic bank in ASEAN with a total asset size of RM66.0 billion (as at 30 June 2011). On the global front, the Group’s Global Wholesale Banking is recognised as the largest global sukuk manager both for sukuk in all currencies – with a market share of 31.9% – and for RM-denominated sukuk – with a market share of 35.4% (Bloomberg league table, 12-month period ended 30 June 2011).
MIB Contribution to Maybank Group Domestic as at 30 June 2011
The chart above shows that MIB is well on the way to achieving a one-third Islamic financing contribution to
the Group’s total domestic loans and advances by 2015, with the year’s contribution already at 27.4% as at
June 2011.
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House of Maybank – Strategic Objective: Leading Islamic bank in ASEAN
By strengthening intra-group linkages and capitalising on the strategic objective of becoming a leading Islamic bank in ASEAN under the House of Maybank, Islamic Banking continues to build business sustainability through stronger collaboration with Community Financial Services (CFS) Global Wholesale Banking (GWB) and Enterprise Transformation Services (ETS). This has resulted in more innovative cross-selling and bundling of products and services, allowing greater market penetration and network expansion of Islamic Banking business domestically and overseas. |
BUSINESS LINES
MIBG’s business offers comprehensive Shariah-compliant financial solutions to cater to the needs of its customers, cutting across the House of Maybank’s pillars, namely CFS and GWB. In Malaysia, CFS is the core contributor to MIB’s total financing, accounting for approximately 66% as at 30 June 2011.
We offer Islamic banking expertise both regionally and globally, while Maybank’s recent strategic acquisition of Kim Eng Holdings will enable us to further entrench our leadership in the capital markets and investment banking services.
Key Accomplishments and Innovative Products
Malaysia:
We are a market leader in Malaysia’s Islamic banking industry. With over four million customers, we are the nation’s largest Islamic commercial bank. Our achievements for the year include the following:
o Commodity Murabahah-based deposits (Profit Now Account-i)
o Islamic Foreign Currency deposits and remittances
o Promissory FX – FX Spot, FX forward and FX swaps
o Islamic Profit Rate Swap
o Islamic Cross Currency Profit Rate Swap
Singapore:
Singapore launched its first Shariah-compliant savings account for pilgrims going on the Hajj – the Muslim pilgrimage to Mecca – and also an Islamic financing package for small and medium enterprises (SMEs) seeking financing for completed commercial and industrial properties.
Indonesia:
We currently have two vehicles in Indonesia, namely PT Bank Internasional Indonesia TBK (BII) and Maybank Syariah Indonesia (MSI). BII has its own Unit Usaha Syariah dealing mostly in retail financing, while MSI deals with the corporate and wholesale segments. During the year, BII launched a Traveller Saving Account-i based on Mudharabah principles, that provides travellers with both an ATM card and a Debit Card.
STRATEGIC THRUST
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To be the Leading Islamic Bank in ASEAN |
Our expansion plans focus on key ASEAN markets, though ultimately we also aim to expand into the opportunistic markets of London, Hong Kong/China and the Middle East.
We offer consumer, wholesale and investment banking products and services not only in Malaysia but in many locations in Asia, as well as in key financial centres such as Indonesia, Singapore, London and the Middle East. |
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AWARDS
– Most Outstanding Islamic Retail Bank
– Islamic Retail Bank of the Year
– Islamic Bank Category |
