Bank Muamalat

Bank Muamalat, which commenced operation beginning 1 October 1999, is a full-fledged Islamic financial institution that operates under the Islamic Banking Act (1983). It is headquartered in Kuala Lumpur and is a leading financial institution offering Shariah based financial services and products.

Bank Muamalat Malaysia Berhad is the second full-fledged Islamic bank to be established in Malaysia after Bank Islam Malaysia Berhad, operating under the Islamic Banking Act 1983, is envisaged to play its role in providing Shariah compliant banking products and services to Malaysians, irrespective of race or religious beliefs, thus contributing to the development of modern Malaysia.

At the inception, Khazanah Nasional Berhad held 70% of the Bank’s shares, while the remaining 30% was held by Commerce Asset-Holdings Berhad. As at March 2004, pursuant to sale and purchase agreement between the three parties, the shareholders comprise Bukhary Capital Sdn Bhd, which holds 70% shares in the Bank while Khazanah Nasional Berhad holds the remaining shares.

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