Bank Muamalat

What Bank Muamalat does

Bank Muamalat Malaysia Berhad is a Malaysia-incorporated Islamic bank and subsidiary of DRB-HICOM Group, headquartered in Kuala Lumpur and operating since 1999 with a workforce of 1,001–5,000 employees. It provides a full suite of Shariah-compliant banking services to individual customers, SMEs, commercial/corporate clients, and government/public sector entities through a multi-channel distribution model spanning a national branch network, i-Muamalat (retail) and iBiz Muamalat (corporate) internet banking platforms, ATM network, WhatsApp banking, and online account opening at m360.muamalat.com.my.

The bank's core technology architecture is cloud-based, built on the Mambu core banking platform and Red Hat open-source solutions, recognized at the TAB Global Financial Technology Innovation Awards 2026 for financial technology innovation. Its product portfolio includes deposit accounts (BSA, Savings Account-i, Current Account-i, Fixed Term Account-i, ELITE Savings Account-i, Junior Pawket-i, Pensioner Savings Account-i), Shariah-compliant credit cards (Visa Platinum-i, Visa Infinite-i, and co-branded variants with Pos Malaysia, EON Bank, and AmanahRaya), personal financing (Cash-i SMART, Cash-i Muamalat, Cash-i Muamalat Pro, Cash-i Muamalat Premier), home financing (SMART Mortgage HOME, EEP, FLEXI, Green PLUS, LPPSA, SJKP), auto financing, Eco Green financing (solar, BESS, EV, EV charger), Ar Rahnu Islamic pawn broking, SME and trade finance instruments (LC-i, Bank Guarantee-i, Murabahah Tawarruq), and Islamic investment/wealth management products including Gold-i, EasiGold, e-Unit Trust, ESG Investment, and As-Salihin Islamic estate planning.

Revenue is generated through four primary streams: net financing income from Shariah-compliant financing products (Murabahah, Tawarruq, Ijarah profit-sharing structures), deposit services utilizing customer funds for financing activities with profit-sharing, fee-based income from credit cards, trade finance, foreign exchange, and wealth management, and transaction-based income from unit trust distribution and gold investment products (Gold-i, EasiGold, ASNB). Pricing is quote-based with disclosed indicative rates (e.g., Cash-i SMART from 6.99% p.a., Cash-i Muamalat from 2.77% p.a.), and all deposits are insured by PIDM up to RM250,000 per depositor. The bank operates exclusively within Malaysia with no disclosed international expansion.

Name

Bank Muamalat

Legal name

Bank Muamalat Malaysia Berhad

Website

https://muamalat.com.my

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Bank Muamalat Malaysia Berhad is a Kuala Lumpur-based Islamic bank subsidiary of DRB-HICOM Group, offering Shariah-compliant personal, SME, and corporate banking through a nationwide branch network and digital platforms including i-Muamalat and iBiz Muamalat.

Ownership category

akta.pro rank

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Financing/Financing Income: Primary revenue stream from providing Shariah-compliant financing products including personal financing, home mortgages, auto financing, SME financing, and trade finance. Revenue generated through profit rates rather than interest.
2. Deposit Services: Income from accepting deposits through savings accounts, current accounts, and fixed term accounts, utilizing the funds for financing activities while sharing profits with depositors.
3. Fee-Based Income: Various fee income streams from credit cards, wealth management products, investment account services, trade finance services, foreign exchange, and other banking services.
4. Investment Products: Revenue from unit trust distribution (e-Unit Trust), gold investment products (Gold-i, EasiGold), and ASNB fund distribution.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels5 records

Core offering

Bank Muamalat Malaysia Berhad is a Shariah-compliant Islamic bank that provides personal and business banking products including deposit accounts, personal/mortgage/auto/SME financing, credit cards, investment products, trade finance, and Islamic estate planning services. The bank operates through a physical branch network across Malaysia, digital banking platforms (i-Muamalat for retail and iBiz Muamalat for corporate), ATM network, and WhatsApp banking. Revenue is generated through profit rates on financing (rather than interest), deposit services, fee-based income, and distribution commissions on investment products.

Product overview

Bank Muamalat is an Islamic bank offering a comprehensive Shariah-compliant banking platform comprising multiple product lines. The core personal banking includes deposit accounts (Basic Savings Account-i, Savings Account-i, Current Account-i, Fixed Term Account-i, ELITE Savings Account-i, Junior Pawket-i, Pensioner Savings Account-i) and credit cards (Visa Platinum-i, Visa Infinite-i with co-brand variants including Pos Malaysia, EON, and AmanahRaya). The financing portfolio spans personal financing (Cash-i SMART, Cash-i Muamalat, Cash-i Muamalat Pro), home mortgages (SMART Mortgage HOME, EEP, FLEXI, Green PLUS, LPPSA, SJKP), auto financing (Auto-Grad Scheme, Big Bike, Step-Up), and Eco Green products (Solar Panel, BESS, EV, EV Charger). Investment products include Gold-i, EasiGold digital app, e-Unit Trust, ESG Investment, and wealth distribution tools (As-Salihin, Pri-Warisan, Pri-TI, Pri-Emas). Business banking features iBiz Muamalat corporate banking, SME financing (Government Guarantee Scheme Madani, PEMULIH, Vendor Financing), trade finance (LC-i, Bank Guarantee, Shipping Guarantee), and treasury products. Digital channels comprise i-Muamalat internet banking with FPX, DuitNow, Google Pay, Samsung Pay, Click to Pay integrations, WhatsApp banking, and online account opening. Community services include Ar Rahnu pawn broking, Zakat services, Wakaf Muamalat, Jariah Fund, and iTEKAD microfinancing. The bank operates with Mambu cloud-based technology platform and Red Hat open-source solutions for digital infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• i-Muamalat Internet Banking Shariah-compliant internet banking platform for personal customers enabling account management, fund transfers, FPX bill payments, DuitNow transfers, foreign exchange services, and access to comprehensive banking services.
• iBiz Muamalat Corporate Banking Corporate internet banking platform for business customers enabling cash management, trade finance operations, and comprehensive business banking services through online channels.
• Ar Rahnu (Islamic Pawn Broking) Shariah-compliant pawn broking service allowing customers to obtain short-term financing against gold collateral, with variants including Ar Rahnu PRESTIGE and Ar Rahnu BIZ for business use.
• Basic Savings Account-i (BSA) Economical basic savings account providing essential Islamic banking services with Shariah-compliant principles for personal customers.
• Savings Account-i Islamic savings account offering competitive returns while maintaining Shariah compliance for personal savings.
• Current Account-i Shariah-compliant current account for business and personal customers requiring frequent transaction capabilities.
• Fixed Term Account-i Islamic fixed deposit account providing guaranteed returns with various tenures for savings preservation.
• ELITE Savings Account-i (ESA-i) Premium savings account designed for customers planning for early retirement with enhanced benefits and returns.
• Savings Account Junior Pawket-i Children's savings account introducing financial literacy from an early age with child-friendly features.
• Visa Platinum-i Shariah-compliant credit card with platinum benefits including cashback, rewards, and travel privileges, with lifetime annual fee waiver and 1% cash back on e-commerce.
• Visa Infinite-i Premium Shariah-compliant credit card offering exclusive privileges, high credit limits, and comprehensive travel insurance for income above RM120,000.
• Cash-i SMART Personal Financing Personal financing product offering up to RM250,000 with tenure up to 7 years and profit rates from 6.99% p.a.
• Cash-i Muamalat Personal Financing Personal financing with amounts up to RM400,000, tenure up to 10 years, and competitive profit rates from 2.77% p.a.
• SMART Mortgage HOME Home financing product with Shariah-compliant structure for property purchases with competitive profit rates and no lock-in period.
• Muamalat Vehicle Financing-i (MPO) Comprehensive vehicle financing for cars and commercial vehicles under Murabahah structure with Shariah-compliant terms.
• Eco Green Solar Panel Financing Green financing for solar panel installation enabling customers to adopt renewable energy solutions with Shariah-compliant terms.
• Electric Vehicle (EV) Financing

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• MambucoreTechnology or Integration · 17 May 2026Bank Muamalat was recognized at the TAB Global Financial Technology Innovation Awards 2026 for its cloud-based technology implementation with partner Mambu. Mambu provides the cloud banking platform that enables Bank Muamalat's modern digital banking capabilities.
• Red Hat MalaysiacoreTechnology or Integration · 14 October 2025Bank Muamalat Malaysia has implemented Red Hat's open-source solutions for digital transformation. Red Hat is collaborating with major Malaysian financial institutions to advance AI-ready workforce through strategic partnerships with universities and the Malaysia Digital Economy Corporation.
• Pos MalaysiacoreStrategic or Co-development PartnerPos Malaysia operates 66 gold-backed financing facilities using Bank Muamalat's Ar Rahnu Islamic pawn broking system. Co-branded credit cards include Muamalat Pos Malaysia Visa Platinum-i and Muamalat Pos Malaysia Visa Infinite-i.
• EON BankminorChannel Partner/ Reseller/ DistributorCo-branded credit cards including Muamalat EON Visa Platinum-i and Muamalat EON Visa Infinite-i distributed through EON Bank's branch network.
• AmanahRayaminorStrategic or Co-development PartnerCo-branded credit cards including Muamalat AmanahRaya Visa Platinum-i. Additionally, AmanahRaya Berhad provides Islamic estate planning services including will writing (Wasiat) distributed through Bank Muamalat.
• As-Salihin Trustee BerhadminorStrategic or Co-development PartnerAs-Salihin Trustee Berhad powers Bank Muamalat's Islamic estate planning services (As-Salihin Islamic Estate Planning) and Faraid Calculator, enabling customers to plan wealth distribution according to Shariah inheritance principles.
• Syarikat Jaminan Pembiayaan Perniagaan (SJPP)coreChannel Partner/ Reseller/ DistributorSJPP provides government guarantee coverage for Bank Muamalat's SME financing programs including PEMULIH Government Guarantee Scheme (up to 80% guarantee) and Proton Dealer Financing Program, enabling financing access for SMEs with limited collateral.
• Perbadanan Insurans Deposit Malaysia (PIDM)coreOthersPIDM provides deposit insurance protection for Bank Muamalat deposits up to RM250,000 per depositor, ensuring deposit safety similar to conventional bank CDIC protection.

Scale indicators1 record

Recent moves7 records

Expansion highlights6 records

Direct peers

• Bank Islam Malaysia Berhad: Malaysia's oldest and largest pure-play Islamic bank, offering a directly comparable suite of Shariah-compliant retail, SME, corporate, and investment banking products against the same Malaysian customer base.
• CIMB Islamic Bank Berhad: Islamic banking arm of CIMB Group, one of the largest Islamic banks in Southeast Asia by assets, competing head-to-head in retail financing, trade finance, and capital markets.
• Maybank Islamic Berhad: Islamic banking subsidiary of Malayan Banking Berhad (Maybank), the largest Malaysian banking group, offering directly overlapping Shariah-compliant retail, SME, and corporate banking products.
• RHB Islamic Bank Berhad: Islamic banking arm of RHB Banking Group, providing a similar Shariah-compliant product range across retail financing, deposits, and treasury operations in Malaysia.
• Hong Leong Islamic Bank Berhad: Islamic banking subsidiary of Hong Leong Financial Group, competing directly in Malaysian retail and SME Shariah-compliant financing and deposits.
• Kuwait Finance House (Malaysia) Berhad: Malaysia subsidiary of Kuwait Finance House, a global Islamic banking group offering comparable Shariah-compliant retail, corporate, and investment banking products in the same market.
• HSBC Amanah Malaysia Berhad: Islamic banking subsidiary of HSBC in Malaysia, providing Shariah-compliant corporate, investment, and treasury banking services to Malaysian and multinational clients.
• Standard Chartered Saadiq Berhad: Islamic banking arm of Standard Chartered in Malaysia, focused on Shariah-compliant wholesale banking, trade finance, and cross-border treasury services.
• AmBank Islamic Berhad: Islamic banking arm of AMBANK Group, offering comparable Shariah-compliant retail financing, deposits, and SME products within Malaysia.
• Affin Islamic Bank Berhad: Islamic banking subsidiary of Affin Bank Group, providing directly comparable Shariah-compliant retail and SME banking products in the Malaysian market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Customer concentration

• Xtwitter.com/mybankmuamalat?lang=en
• Facebookfacebook.com/mybankmuamalat
• LinkedInbg.linkedin.com/company/bank-muamalat
• Instagraminstagram.com/mybankmuamalat/?hl=en
• TikToktiktok.com/@bankmuamalatmy?_t=8gy6R6wI8mo&_r=1

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bank Muamalat