Content
- Introduction
- The Bank History
- Details
- References
Introduction
Bank Muamalat Malaysia Berhad (Jawi: بڠك معاملة مليسيا) started its operations on 1 October 1999 with a combined assets and liabilities brought over from the Islamic banking windows of the then Bank Bumiputra Malaysia Berhad, Bank of Commerce (M) Berhad and BBMB Kewangan.
Bank Muamalat Malaysia Berhad, the second full-fledged Islamic bank to be established in Malaysia after Bank Islam Malaysia Berhad, is poised to play its role in providing Islamic banking products and services to Malaysians, without regard to race or religious beliefs. The bank was based on a profit sharing model and its products weren’t linked to the Bank Indonesia discount rate, thus surviving to the 1997 Asian financial crisis which increased the mean interest rate of the other Indonesian banks.[citation needed]
DRB-HICOM holds 70% shares in the Bank while Khazanah Nasional Berhad holds the remaining shares.
The Bank History
Details
Company type subsidiary
Industry Finance
Founded 1 October 1999
Headquarters Kuala Lumpur, Malaysia, Malaysia
Key people Khairul Kamarudin CEO, Tan Sri Tajuddin Atan Chairman
Products Financial services
References
https://en.wikipedia.org/wiki/Bank_Muamalat_Malaysia
Disclaimer: This blog content is for informational purposes only and not professional financial advice. It is advisable to consult a financial advisor for personalized guidance.