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Tuesday, 19 August 2008

Milestones of Bank Islam Malaysia Berhad

  • Officially launched on 1 July 1983 by former Prime Minister Tun Dr Mahathir Mohamad, Bank Islam was incorporated with an authorized capital of RM500 million and a paid-up capital of RM79.9 million
  • First Islamic bank in Malaysia to cater to the specific financial needs of Muslims
  • Bank Islam is ultimately the flag-bearer for the country’s Islamic financial services industry
  • Lead arranger for Shell MDS Sdn. Bhd., Malaysia’s first ringgit-denominated Islamic corporate bond issuance
  • The first Islamic financial institution to be listed on Bursa Malaysia Securities Berhad
  • The first bank in Malaysia to introduce the chip-based ATM card (Smart Card)
  • Launched its website:
  • Developed its Total Islamic Banking Solutions under its MIS Upgrade Program
  • BIMB Holdings Berhad was formed to replace Bank Islam as the Group’s holding company and to assume the Group’s listing status
  • Awarded ISO 9001:2000 Certification by SIRIM for its Trade Financing and Bills operations
  • Excellence Performance Award by Association of Islamic Banking Institutions Malaysia (AIBIM)
  • Lead arranger for First Global Sukuk Inc, the world’s first Islamic global corporate Sukuk
  • Rated “A” by Malaysia Rating Corporation (MARC)
  • First bank in the Asia-Pacific region to introduce EMV-compliant credit cards with chip-based system following the launch of Bank Islam MasterCard
  • Co-manager for Malaysia Global Sukuk Inc, the world’s first Islamic sovereign Sukuk
  • Launched its Internet banking
  • First bank to offer zakat (tithe) payment facilities via ATM and credit card
  • First bank in Malaysia to offer SMS banking service (bankislam.sms) using any mobile operators
  • Awarded ISO BS7799 Certification by SIRIM for IT related services covering planning, software development, operations and user support services and data center services
  • Voted Best Provider of Islamic Finance in Malaysia by Finance News’ Best Islamic Banks Poll 2005
  • First bank in South East Asia to introduce an Islamic Platinum MasterCard
  • Awarded Platinum Award for Best e-commerce Related Initiative in Asia-Pacific by MasterCard Worldwide
  • Introduced Wiqa’ Forward Rate Agreement, a Shariah-based financial hedging tool to facilitate in-house risk management
  • Dubai Islamic Investment Group (DIG) and Lembaga Tabung Haji (LTH) purchased a 40 per cent and 9 per cent stake each in Bank Islam.
  • Entered into its first Islamic cross-currency swap agreement
  • Launch of the new corporate identity of Bank Islam, officiated by a Minister at the Prime Minister’s Office, YB Dato’ Dr. Abdullah Md Zin
  • Embarked on Branch Remodeling exercise
  • Announcement of a profit before zakat and tax (PBZT) of RM255.49 million for the financial year ended 30 June 2007 (FY2007), its highest ever in 24 years
  • Signing of a strategic collaboration deal with the European Islamic Investment Bank plc (EIIB), a gateway for Bank Islam to make inroads into the European market
  • Celebrates its 25th anniversary

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