Maybank Islamic Bank

What Maybank Islamic Bank does

Maybank Islamic Bank (Maybank Islamic Berhad) is the Islamic banking subsidiary of Malayan Banking Berhad (Maybank), Malaysia's largest banking group. Incorporated in 1993 and headquartered at Menara Merdeka Maybank in Kuala Lumpur, the bank provides Shariah-compliant deposits, financing, cards, takaful, and wealth management services to retail, SME, and corporate customers. Its product portfolio includes Islamic Current/Savings accounts, e-Islamic Fixed Deposit-i (eIFD-i), Mudarabah Investment Accounts, personal and home financing, hire purchase, Islamic Mastercard/Visa Business, Corporate, and Purchasing cards, ASNB unit trusts, gold and silver investment, Sukuk Prihatin, Tabung Haji integration, and Auto-Debit Zakat services. The Halal2u program supports Malaysian MSME halal certification.

The bank's technology stack is built on AWS cloud infrastructure powered by Audax Financial Technology's Banking-as-a-Service platform under the M25+ digital strategy. Customer-facing digital channels comprise the MAE mobile app and maybank2u.com.my web banking, featuring Secure2u biometric authentication (Face ID / Fingerprint with one-device binding), Malware Shielding for scam prevention, Samsung Wallet Scan & Pay integration, and digital onboarding via IC scanning and selfie verification. Business customers are served through Maybank2E (cash management, trade services, ecustody) and Maybank2u Biz (SME payments). The bank is regulated by Bank Negara Malaysia, with deposits protected by PIDM up to RM250,000 per depositor.

Maybank Islamic generates revenue through multiple streams: profit/interest income from Sharia-compliant financing (Murabahah, Mudharabah, Ijara, Tawarruq); fee-based income from fund transfers, credit cards, wealth management, and unit trusts; bancassurance and takaful distribution; and trade and supply chain finance. The bank serves mass-market retail, affluent (Privilege/Premier/Private), SME, and corporate/government-linked segments through an omnichannel model combining physical branches, digital self-service, and dedicated relationship managers. Strategic activities in 2025-2026 include participation in the RM4.3 billion U Mobile 5G syndicated financing (November 2025), Malaysia's first data center sukuk investment (MYR 300 million, July 2026), and regional operations spanning Malaysia, Indonesia, Singapore, the Philippines, and Cambodia.

Name

Maybank Islamic Bank

Legal name

Malayan Banking Berhad

Website

https://maybank2u.com.my

Company type

Private

Founded year

1960

Operating status

Operating

Headcount range

1–10 employees

Short description

Maybank Islamic Bank is the Islamic banking subsidiary of Malayan Banking Berhad (Maybank), offering Shariah-compliant deposits, financing, cards, takaful, and wealth management to retail, SME, and corporate customers across Malaysia and Southeast Asia via branches, the MAE app, and maybank2u.com.my.

Ownership category

akta.pro rank

Product category

Islamic Banking

NAICS

Depository Credit Intermediation (5221), Commercial Banking (522110), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Functions Related To Depository Banking, Nec (6099), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Islamic Retail Banking (FSABAGAA)

akta.pro secondary industries

Islamic SME & Commercial Banking (FSABAGAB), Islamic Corporate Banking (FSABAGAC), Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Islamic Investment Banking & Capital Markets Services (FSABAGAG)

Keywords

• Islamic banking services
• Sharia-compliant financing
• Islamic wealth management
• Islamic credit cards
• Islamic business banking

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, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Interest/Profit Income: Revenue from financing activities including personal financing, home financing, hire purchase, and business financing products offered under Islamic principles (Murabahah, Mudharabah, Ijara).
2. Fee-Based Income: Transaction fees from fund transfers, credit cards, trade services, and wealth management products including unit trusts, ASNB funds, and bonds/sukuk.
3. Trade & Supply Chain Finance: Import, export, and domestic trade financing services for corporate and SME customers.
4. Bancassurance/Takaful: Insurance and takaful products distribution including motor, travel, personal accident, home, medical, and business insurance.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Maybank Islamic Bank offers a comprehensive range of Sharia-compliant banking, financing, investment, takaful, and wealth management products and services. Its core offerings include Islamic current and savings accounts, fixed deposits (e-Islamic Fixed Deposit-i), Mudarabah investment accounts, personal and home financing, hire purchase, Sharia-compliant credit/corporate/business cards, unit trusts (ASNB), sukuk investments, and gold trading. The bank delivers these products through an extensive branch and ATM network and digital platforms including Maybank2u web and the MAE mobile app.

Product overview

Maybank Islamic Bank operates as a comprehensive Islamic digital banking platform within the Maybank Group, offering a unified platform combining Maybank2u web banking and MAE mobile app. The core banking infrastructure supports both conventional and Sharia-compliant products including Islamic Current/Savings Accounts, e-Islamic Fixed Deposit-i (eIFD-i), and Mudarabah Investment Accounts. The MAE app serves as the primary mobile banking interface featuring Secure2u biometric authentication, Malware Shielding security, and Samsung Wallet Scan & Pay integration. Business banking is delivered through Maybank2E (cash management and trade services) and Maybank2u Biz for SME payments. The Islamic card portfolio includes Mastercard and Visa variants for Business, Corporate, and Purchasing use cases under Islamic financing principles. Additional services include Halal2u for SME halal certification support, ASNB unit trust investments, Gold & Silver trading, Sukuk Prihatin retail bonds, and Tabung Haji integration. The M25+ strategy drives digital transformation through partnerships with Audax (Banking-as-a-Service on AWS) for new Sharia-compliant digital product development.

Differentiator

Problem solved

Functional benefit

Brands

• MAE: Digital banking app by Maybank offering mobile banking services, payments, savings, and investments with Shariah-compliant options.

Products and services

• Islamic Current and Savings Account Sharia-compliant current and savings accounts operating under Islamic banking principles, accessible via Maybank2u and at branches. Targeted at individual consumers seeking banking products aligned with Islamic principles.
• e-Islamic Fixed Deposit-i (eIFD-i) Islamic fixed deposit product available for online placement via Maybank2u web (FPX transfer) or over-the-counter at branches. Offers promotional profit rates during campaign periods with tenures from 3 to 12 months. Minimum placement RM1,000 for FPX, RM10,000 over-the-counter.
• Mudarabah Investment Account Sharia-compliant profit-sharing investment account where the bank acts as mudarib (entrepreneur) managing funds for depositors who share in profits and losses under Islamic principles.
• Maybank Islamic Mastercard Business Card-i Sharia-compliant Mastercard business card for SMEs providing corporate spending management with Islamic financing principles.
• Maybank Islamic Visa Corporate Card-i Sharia-compliant Visa corporate card for businesses operating under Islamic banking principles.
• Maybank Islamic Mastercard Purchasing Card-i Sharia-compliant purchasing card enabling business procurement and payment management under Islamic financing principles.
• Maybank Islamic Visa Purchasing Card-i Sharia-compliant Visa purchasing card for business procurement and payment management.
• Maybank2E Business digital banking portal providing cash management, trade and supply chain services, and ecustody access for corporate and SME customers.
• Maybank2u Biz Digital payment solution for SME businesses enabling online business banking, payment processing, and financial management.
• Halal2u Business service supporting SME halal certification processes, part of the Impak Biz digital evaluation programme providing halal certification support for Malaysian MSMEs.
• Sukuk Prihatin Sharia-compliant sukuk (Islamic bond) investment product available for retail investors through Maybank2u.
• Gold and Silver Investment Account Precious metals investment products including Maybank Gold Investment Account with competitive rates, accessible via Maybank2u for buying and selling gold and silver.
• ASNB (Amanah Saham Nasional Berhad) Unit Trust Unit trust investment funds including ASB, ASB 2, ASM, and ASM 3, accessible via MAE app for wealth building with minimum investment starting from RM10.
• Tabung Haji Pilgrimage Savings Integration Integration with Tabung Haji (National Pilgrims Fund Board) for Islamic pilgrimage savings management, accessible via Maybank2u.
• Zakat Auto-Debit Service Islamic wealth purification service allowing customers to calculate and pay zakat (charitable alms) via Maybank2u auto-debit functionality.
• Islamic Home Financing Sharia-compliant home financing product offered under Islamic principles for individual consumers seeking property financing aligned with Islamic banking contracts.
• Islamic Personal Financing Sharia-compliant personal financing product offered under Islamic banking principles for individual consumers.
• Islamic Hire Purchase Financing Sharia-compliant hire purchase financing for vehicle and asset acquisition by individual consumers under Islamic banking principles.
• Islamic Trade and Supply Chain Finance Import, export, and domestic trade financing services for corporate and SME customers under Islamic banking principles.

Quantifiable outcome

• Extensive product suite covering deposits, financing, cards, wealth, and insurance under Islamic principles

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• audaxcoreTechnology or Integration · 16 June 2025Maybank Islamic appointed as lead digital transformation partner for audax across Southeast Asia, leveraging audax's Banking-as-a-Service technology for Islamic digital finance ecosystem modernization.
• Audax Financial TechnologycoreTechnology or Integration · 28 March 2025Maybank Islamic partnered with Audax Financial Technology to facilitate digital transformation of banking services using Audax's Banking-as-a-Service (BaaS) platform. This partnership enables Maybank Islamic to offer new Sharia-compliant digital products, enhancing customer onboarding and digital banking services under the M25+ strategy.
• Amazon Web Services (AWS)coreTechnology or Integration · 28 March 2025Cloud infrastructure provider for Maybank Islamic's digital transformation, supporting the BaaS platform deployment for new Islamic banking products.

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Bank Islam Malaysia Berhad: Malaysia's oldest standalone Islamic bank, offering a comparable Sharia-compliant retail, SME, and corporate product range. Direct competitor for Islamic deposits, financing, and wealth management market share.
• Public Islamic Bank Berhad: Islamic arm of Public Bank Group, Malaysia's second-largest banking group by retail branch network. Competes directly for Islamic retail deposits, personal financing, and home financing customers.
• RHB Islamic Bank Berhad: Islamic banking arm of RHB Banking Group, offering Islamic retail, SME, and corporate banking products in Malaysia. Direct competitor for Islamic current/savings accounts, home financing, and corporate Islamic financing.
• AmBank Islamic Berhad: Islamic subsidiary of AMMB Holdings, providing a comparable range of Sharia-compliant deposits, financing, and wealth products. Co-participant in the U Mobile 5G syndicated financing and subject to the same BNM reporting penalties as Maybank Islamic.
• Standard Chartered Saadiq Malaysia: Islamic banking arm of Standard Chartered Malaysia, focused on Islamic corporate, transaction, and trade finance. Comparable for cross-border Islamic trade financing and corporate treasury products.
• HSBC Amanah Malaysia: Global Islamic banking window of HSBC in Malaysia, serving affluent and corporate customers with Sharia-compliant financing, treasury, and capital markets services. Competitor for large-ticket Islamic corporate deals and private wealth.
• CIMB Islamic Bank Berhad: Direct competitor in Malaysian Islamic retail, SME, and corporate banking. Offers a similar full suite of Sharia-compliant deposits, financing, cards, and wealth products, and is part of CIMB Group, one of Maybank's largest domestic rivals. Co-participant with Maybank Islamic in the U Mobile 5G syndicated financing.
• OCBC Al-Amin Bank Berhad: Sharia-compliant subsidiary of OCBC Bank Malaysia, operating Islamic banking services including corporate Islamic finance. Co-investor with Maybank Islamic in Malaysia's first data center sukuk.
• Kuwait Finance House (Malaysia) Berhad: Foreign-controlled Malaysian Islamic bank offering sharia-compliant retail, SME, and corporate banking products. Provides a regional reference point for Malaysian Islamic banking market dynamics.

Emerging players

• Affin Islamic Bank Berhad: Islamic arm of Affin Bank Group, a mid-sized Malaysian banking group offering Sharia-compliant deposits, financing, and SME products. Smaller in scale than Maybank Islamic but competes for similar Islamic retail and SME customers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/maybank

Compliance2 records

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 Maybank Islamic Bank