AIBIM

What AIBIM does

AIBIM (Association of Islamic Banking and Financial Institutions Malaysia) is a non-profit industry association headquartered in Kuala Lumpur, Malaysia, founded in 1995 originally as the Association of Interest-Free Banking Institutions Malaysia. It represents 27 member institutions comprising 11 Domestic Banks, 3 Development Financial Institutions, 11 Locally Incorporated Foreign Banks, and 2 Islamic Digital Banks. AIBIM serves as the unified industry voice for Malaysia's Islamic banking sector, engaging directly with Bank Negara Malaysia (BNM) on policy, regulatory, and standard-setting matters.

AIBIM's core offerings are coordination frameworks and industry initiatives rather than commercial products. The Value-based Intermediation (VBI) framework and its Community of Practitioners (18 banks) drive ethical and sustainable finance practices, supported by the VBIAF (VBI Investment & Financing Impact Assessment Framework) Sectoral Guides spanning Palm Oil, Renewable Energy, Oil & Gas, Construction, Manufacturing, Agriculture, Mining, Road Transportation, and Waste Management. The myWakaf social finance initiative coordinates Waqf fund deployment between Islamic banks and 11 State Islamic Religious Councils (SIRCs), with myWakaf 2.0 covering 14 Solar Dome Dryer projects. Additional programs include the annual Customer Satisfaction Survey (with ABM and BNM), the National Scam Awareness Campaign, FINCO collective outreach (107 financial institutions), and standardized industry documentation such as Murabahah Practice Notes and the MALAYSIAN SCHEDULE to the ISDA/IIFM Tahawwut Master Agreement.

AIBIM operates as a member-based association with no proprietary technology platform and no commercial revenue model. The organization employs 11-50 staff and is funded implicitly through member dues, regulatory collaboration with BNM, and event-based income from flagship forums such as the Global Islamic Finance Forum (GIFF) and the Kuala Lumpur Islamic Finance Forum (KLIFF). Its customer base is its 27 member banks plus secondary engagement with the wider Malaysian public through consumer-facing campaigns, while strategic partnerships span BNM, SIRCs, ELMU Education Group, and the FINCO coalition.

Name

AIBIM

Legal name

Association of Islamic Banking and Financial Institutions Malaysia

Website

https://aibim.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

AIBIM is a Malaysian non-profit industry association founded in 1995 that represents 27 Islamic banks and coordinates industry-wide frameworks including VBI, myWakaf, and VBIAF sectoral guides in collaboration with Bank Negara Malaysia.

Ownership category

akta.pro rank

Product category

Islamic Banking Industry Association

NAICS

All Other Financial Investment Activities (52399)

SIC

Finance Services (6199)

akta.pro industry

PRIMARYFSABAGAJ

Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Islamic Banking

SECONDARYFSABAGAG

Islamic Investment Banking & Capital Markets Services

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Islamic Banking

SECONDARYFSABAGAH

Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Islamic Banking

Keywords

• Islamic banking association
• Industry standards development
• Shariah governance framework
• Value-based intermediation
• Social finance initiatives

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Distribution channels2 records

Marketing channels7 records

Core offering

AIBIM is a non-profit industry association that represents 27 Islamic banking and financial institutions in Malaysia. It coordinates industry-wide frameworks such as Value-based Intermediation (VBI), VBIAF sectoral guides, myWakaf social finance, and standardized Islamic financial documentation, and serves as the collective voice of the Islamic banking industry in engagements with Bank Negara Malaysia and the Ministry of Finance.

Product overview

AIBIM (Association of Islamic Banking and Financial Institutions Malaysia) is an industry association representing 27 Islamic banks and financial institutions in Malaysia, established in 1995. Rather than a unified product platform, AIBIM offers a portfolio of industry-wide initiatives and standards: myWakaf (social finance/waqf fund initiative), Value-based Intermediation (VBI) framework with its Community of Practitioners and VBIAF sectoral guides, Customer Satisfaction Survey, FINCO community outreach, National Scam Awareness Campaign, and standardized industry documentation. These initiatives support Malaysia's Islamic banking ecosystem rather than functioning as a commercial product.

Differentiator

Problem solved

Functional benefit

Products and services

• myWakaf An inclusive economic instrument based on philanthropic values (waqf) managed by Islamic banks in collaboration with State Islamic Religious Councils to provide underserved communities access to quality essential services and achieve shared prosperity.
• Value-based Intermediation (VBI) A strategic framework for Islamic financial institutions to deliver ethical standards and sustainable practices, implemented through a Community of Practitioners (CoP) with 18 member banks, and includes VBIAF sectoral guides for impact assessment.
• Customer Satisfaction Survey Annual industry-wide customer satisfaction survey jointly led by ABM and AIBIM with Bank Negara Malaysia support, providing standardized insights on customer experiences across digital and branch banking services.
• FINCO (Financial Industry Collective Outreach) A collective impact initiative with 107 Malaysian financial institutions as members, focusing on financial literacy and building better futures for children. It is the largest collective impact initiative in Malaysia.
• National Scam Awareness Campaign Banking industry campaign supported by Bank Negara Malaysia featuring 5 key measures to combat financial scams, including secure multi-factor authentication, fraud detection tightening, and 24/7 complaint channels.
• Industry Standard Documentations Standardized Islamic financial transaction documentation including Practice Notes on Murabahah, Islamic Negotiable Instruments, MALAYSIAN SCHEDULE to ISDA/IIFM Tahawwut Master Agreement, Credit Support Annex-i, and Common Terminology Glossary.
• VBIAF Sectoral Guides Sector-specific guidelines for assessing investment impacts and promoting responsible practices in sectors including Palm Oil, Renewable Energy, Oil & Gas, Construction, Manufacturing, Agriculture, Mining, Road Transportation, and Waste Management.
• AKPK URUS Programme Program Pengurusan dan Ketahanan Kewangan (Financial Management and Resilience Programme) providing support for borrowers facing financial difficulties.
• PENJANA Tourism Financing Support for Skim Pembiayaan Sektor Pelancongan Jana Semula Ekonomi (Penjana) tourism financing scheme.

Quantifiable outcome

• myWakaf 1.0 collected over RM8 million through 6 projects across various Malaysian states
• +3 more outcomes

Named customers21 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered strategic and core.

• ELMU Education GroupstrategicStrategic or Co-development Partner · 17 February 2023Memorandum of Collaboration signed for strategic knowledge partnership on integrity efforts in the banking and financial industry. Formalizes cooperation to encourage, promote and advance integrity efforts while strengthening the integrity and governance ecosystem in the industry.
• Bank Negara MalaysiacoreOthers · 14 February 2023Bank Negara Malaysia serves as the regulatory authority for AIBIM and its member banks. AIBIM works closely with BNM on initiatives including VBI implementation, myWakaf, and financial inclusion programs. BNM's Governor chairs key industry forums and launches major AIBIM initiatives.
• State Islamic Religious Councils (SIRCs)strategicStrategic or Co-development Partner · 1 January 202211 State Islamic Religious Councils collaborate with AIBIM member banks on myWakaf 2.0 initiative, including Majlis Agama Islam from Perak, Kelantan, Perlis, Terengganu, Kedah, Negeri Sembilan, Wilayah Persekutuan, Pahang, Selangor, Sarawak (Tabung Baitulmal), and Pulau Pinang.
• FINCO (Financial Industry Collective Outreach)strategicStrategic or Co-development Partner · 1 January 2017FINCO stands for Financial Industry Collective Outreach with 107 Malaysian financial institutions as members. It is the largest collective impact initiative in Malaysia, envisioning a future where all people achieve their potential through building powerful partnerships and useful tools for children.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Pakistan Banks Association: Industry association representing banks in Pakistan, including Islamic banking institutions. Comparable as a regional banking industry body coordinating policy advocacy, training and standards with a sizable Islamic banking membership analogous to AIBIM.
• Emirates Banking Association: UAE-based industry body representing banks operating in the Emirates. Comparable as a regional banking association with advocacy, training and standard-promotion functions analogous to AIBIM, though broader (conventional + Islamic).
• Bahrain Association of Banks (BAB): Bahraini banking industry association representing conventional and Islamic banks in Bahrain. Comparable as a regional banking industry association serving a similar member-bank representation and policy-advocacy function in a different GCC jurisdiction.

Emerging players

• ISRA (International Shariah Research Academy for Islamic Finance): Malaysian research body producing Shariah-informed research and advisory for Islamic finance. Comparable as a domestic Islamic-finance knowledge institution whose work feeds into the same Shariah governance and standard-setting ecosystem AIBIM coordinates.
• INCEIF (International Centre for Education in Islamic Finance): Malaysia-based global university dedicated to Islamic finance education. Comparable as a domestic Islamic-finance institution contributing to human capital development and thought leadership in the same ecosystem AIBIM serves.

Others

• Bank Negara Malaysia (BNM): Malaysia's central bank and regulator. Not a direct peer but the principal counterparty and ecosystem partner for AIBIM, shaping the regulatory and policy framework within which AIBIM and its 27 member banks operate.

Direct peers

• MIFC (Malaysia International Islamic Financial Centre): Malaysia's integrated initiative to position the country as a global Islamic finance hub. Comparable as a domestic ecosystem body coordinating Islamic finance promotion, policy advocacy and industry development alongside BNM, with mandate overlap with AIBIM.
• AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions): Bahrain-based global standard-setter for Shariah accounting, auditing, governance and ethics across Islamic financial institutions. Directly comparable as the international counterpart to AIBIM's industry standardisation role, particularly for Murabahah, Ijara and other product documentation.
• IBFIM (Islamic Banking and Finance Institute Malaysia): Malaysian not-for-profit institute focused on human capital development and certification for Islamic finance professionals. Closely comparable as a domestic Malaysia-based Islamic finance body that builds capacity and runs industry programmes overlapping with AIBIM's mandate.
• CIBAFI (General Council for Islamic Banks and Financial Institutions): Bahrain-headquartered international association of Islamic banks and financial institutions. Directly comparable as an industry-association peer representing Islamic banks globally, with similar advocacy, training and standard-setting functions.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/myAIBIM

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

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 AIBIM