Islamic Banking Management BWBS 3043 Chapter 4: Operational Aspect & The Practices of Islamic Banking System

TOPICS
*Introduction *The activities of Islamic Banking *Deposit *Financing *Local and international trade financing *Other banking activities *Conclusion
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OBJECTIVES
* Familiarize students with the various products and services
offered by Islamic banking

* Explain the application of

Syariah principles in the Islamic banking products and services

* Explain the features of

Malaysia

the Islamic Banking applying in

Range of Islamic Banking Products and Services in Malaysia

1. Deposits 2. Trade Financing 3. Equity Financing 4. Money Market 5. Card Services 6. Bank Services
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DEPOSITS
Products / Services Applicable Concepts 1) Wadiah Yad Dhamanah Current Account-i 2) Mudharabah Current Account-I 1) Wadiah Yad Dhamanah Saving Account-i 2) Mudharabah Saving Account-i 3) Wakalah Saving Account-I 1) General Investment Accounts-i 2) Special Investment Accounts-i 3) Specific Investment Accounts-I 1) Commodity Murabahah Deposit

Demand deposits

Saving deposits

Investment Deposits

Deposit Structured accounts

Demand Deposit
*Only conventional bank and Islamic banks provide a facility
for current accounts or demand deposits.

*The initial amount of

deposit to open the current account-i shall be at the discretion of each Islamic bank and/or as determined by the Islamic bank which might be changed from time to time.

*The current account-i is available to individuals, societies,

associations, and institutions. There two types of current accounts: 1) Wadiah yad dhamanah current account-i 2) Mudarabah current account-i
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Demand Deposit 1) Wadiah Yad Dhamanah Current Account-i

Features

* Current accounts are based on the principle of

al-wadiah.

* The depositors give their consent to the Islamic bank to deal with the whole or
any part of any money standing to the credit of their account in the manner that the Islamic bank deems fit and so long as it is not against shariah.

* While,

the Islamic bank guarantees payment of the whole sum or any part thereof outstanding in the customers account, when demanded.

* The

Islamic bank also may provide a return (hibah) to the current account holder as a token of appreciation for keeping their money with the Islamic bank. However, such provision shall not be disclosed to the account holder. The Islamic bank shall not entice potential customers with gifts such as free coin boxes, takaful coverage and others.
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Mechanism

Diagram A: Current Accounts-i

(a) Money

(b) Invests

Depositors

Islam Bank

Entrepreneur

(d) Hibah or Return

(c) Return

2) Mudarabah Current Account-i

Features

* Islamic * they

banks may also offer the current account-i based on the principle of mudharabah. may provide incentives to potential customers such as coin boxes, takaful coverage, etc. The profit sharing ratio (PSR) will be agreed upon between the depositor and the Islamic bank at the time of accepting the deposit. PSR can be changed provided the customer consents to the change. For practicality, the consent for change in PSR must be obtained on opening the account. Any Dividend above the computed dividend amount (based on the agreed sharing ratio) shall be treated as Hibah. Islamic bank may also, at its discretion, pay higher returns than the contracted PSR but not lower, provided it comes from the Islamic banks shareholders fund or profit equalization reserves.
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* The

* The

Mechanism

Diagram B: Current Accounts-i

(a) Money

(b) Invests

Depositors

Islam Bank

Entrepreneur

(c) Return

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Saving Deposit
* Islamic banks may accept the application to open a savings account subject to
the applicant meeting the requirements of each Islamic bank.

* an Islamic banks approval of

the application and the initial amount of deposit to open the savings account shall be at the discretion of each Islamic bank or as pre-determined by the central bank from time to time. savings account is available to individuals, societies, associations and institutions other than firms, corporations and other business enterprises. are three types of saving accounts, i.e., wadiah yad dhamanah saving account-i, mudarabah saving account-i and wakalah saving account-i.

* The

* There

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Features

* An account maintained by a depositor with an Islamic bank for the purpose of

accumulating funds over a period of time.

* In this principle, the Islamic bank can pool and utilize the funds. The Islamic

banks responsibility is in the form of guarantee and therefore it is compulsory for the Islamic bank to return the funds as and when requested by the customer.

* The Islamic bank may give Hibah to the depositor. The Hibah depends solely
on the Islamic banks discretion and cannot be promised.

* if

the Islamic bank gains high profit from their financing projects, the depositor will usually receive a good Hibah. On the contrary, in the event of loss, the Islamic bank need not give any Hibah to customers.
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Mechanism

The mechanism in offering wadiah saving account-i is similar with wadiah yad dhamanah current account-i. The role of an Islamic bank as custodian (Islamic bank) is to protect the customers savings from loss, theft, destruction, etc. The depositor grants the Islamic bank permission to utilize the money for whatever purpose permitted by Shariah. The Islamic bank in return guarantees the value of the deposit thus creating a Wadiah Yad-Dhamanah contract. The Islamic bank at its absolute discretion, can give part of the profits obtained in the form of reward (Hibah) to the depositor
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Features

* Islamic banks may offer saving account-i based on the principle of

(trustee profit sharing). * The profit-sharing ratio (PSR) will be agreed upon between the depositor and the Islamic bank at the time of accepting the deposit.

mudarabah

* However,

the PSR can be changed provided the customer consents to the change. In practice, the consent for change in PSR must be obtained on opening the account. * Any profit above the computed dividend amount (based on the agreed sharing ratio) shall be treated as Hibah.

* Islamic

banks may also, at their discretion, pay higher profits than the contracted PSR, but not lower, provided this comes from the Islamic banks shareholders fund or profit equalization reserves.
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Mechanism
The mechanism in offering mudharabah current account-i is similar with wadiah yad dhamanah current account-i,
except that step (d) in Diagram A, where the returns gained from the investment will then be used to pay depositors as a return based on mudarabah.

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Features

* In

this regard, the Islamic bank acts as representative or wakeel to the depositors in managing funds. Wakalah, the depositors appoint the Islamic bank as their service agent to keep their deposit and allow the agent to manage and make use of the deposit in any form, as long as it is acceptable and complies with Shariah principals.

* Under this principle of

* In return, Islamic banks could charge an agency fee. Any investment return

above the agency fee and guaranteed return to depositors (if possible) would be distributed as a profit sharing between the two parties in the form of gifts in kind such as takaful coverage and electrical goods.
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Mechanism

Diagram C: Wakalah Saving Account-i

(a) Money (c) Invests

Customer

Islam Bank

Mudarib

(b) Ujr and reward

(d) Return

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Investment Deposit
* Islamic * The
banks accept investment deposits from customers for a specified period on the principle of mudharabah. Islamic bank acts as the mudarib and the customers as the provider of capital (rabbul mal), agree among others, on the distribution of profits, if any, generated by the Islamic bank from the investment of the funds. distribution may vary from time to time. In the event of loss in the investment, the customers bear all the losses. The customer does not participate in the management of the funds.

* The ratio of

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Features

* A general investment account (GIA) operates under the mudharabah al-mutlaqah

principle, in which the mudarib (active partner) authorizes the Islamic bank to have absolute freedom in the management of the investment of the subscribed capital.

* Rab al-mal gives full freedom to Mudharib to undertake whatever business he

deemed fit, this is called Al-Mudharaba Al-Mutlaqah (unrestricted Mudharabah). * However Mudharib cannot, without the consent of Rab al-mal, lend money to anyone. Therefore, Islamic banks will decide what is appropriate without laying down any restrictions as to where, how and for what purposes the fund should be invested for.

* Under

this arrangement, an Islamic bank can commingle the GIA account holders fund, with excess shareholders funds and with other funds that the Islamic bank has the right to use.
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Mechanism

Diagram D: Mudarabah GIA

Rabbul-Mal Contract of Mudharabah Profit Sharing ratio X:Y
Capital comes from Depositors Y% to Rabbul-Mal Mudharib

(Depositors)

(Islamic banks)

Profit Shared in acccordance to Predetermined ratio (X:Y)

X% to Mudharib

Project Revenue

Invest in project

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Features

* Special investment accounts-i (SGIA) also operate under the mudharabah principle.

* The special investment account-i holder creates a contract with Islamic banks to
invest his funds which are restricted for a certain purpose.

* There may be other restrictions imposed, such as where and how the funds should
be invested. The Islamic banks may also be restricted from commingling their own funds with that of restricted investment accounts funds.

* In

this account, the Islamic bank may utilize their funds based on two tiers mudharabah, where the Islamic bank invests its depositors money in established companies and investments.

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Mechanism
Typically, in order to attract public attention to invest in one of these accounts, Islamic banks will make known their indicative rate of return. The public must not be confused with the rate and misjudge it as similar to conventional interest rates which are fixed from the beginning. 1st, we must understand that the rate is only analytical and prediction based, which is normally in accordance with the Islamic banks previous performance. 2nd, the indicative rate is not similar to interest rates that conventional Islamic banks are obliged to pay out exactly as advertised and all money which is placed in the conventional accounts are based on loans, whereas funds, which are put into an Islamic account are based on the Mudharabah investment contract, which is approved by Shariah.

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Features

* Islamic

banks may issue a specific investment account-i (SIA) to the SIA account holder or enter into a mudharabah mutlaqah contract with the SIA account holder. funds, either short term or long term, are managed separately, where utilization of the funds is identified and matched with specific funds. may stipulate that the Islamic bank will only invest the funds in specific projects or in projects within a specific sector only. The operations of the SIA must be agreed upon by all parties involved in the contract.
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* The

* Customers

Mechanism

The modus operandi is similar to SGIA, except that the utilization of funds should be agreed upon in advance.

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Deposit Structured Accounts

Commodity Murabahah Deposits

Features
Most of the money channelled to Islamic banks are in the form of mudharabah deposits with the Islamic bank acting as Mudarib. As an alternative, Islamic banks may offer alternative forms of deposits. This is designed to net a wider interest in generating liquidity for the Islamic bank and is structured as a trade transaction to comply with murabahah principles. Under this principle, there is a buyer and seller of goods and traders can have pre-determined profits. This principle is used in structuring the trade transaction whereby the depositor buys a commodity for spot value and sells it for deferred payment generating a profit on the sale of the commodity.

The Islamic bank by buying the commodity from the customer on a deferred payment basis will have the cash to invest in Islamic investments.
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Islamic Bank A

(1) Enter into a placement agreement (6) Receives cash from Islamic bank A (2) Enter into agency agreement Client (7) Pay the client on deferred payment basis

Islamic Bank B

(3) Buy commodity

CH-A

(5) Payment

(4) Sell Commodity

CH-B

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TRADE FINANCING

*The bank provides specific facilities and financing mostly

on short-term basis for the purpose of facilitating trade or working capital requirement for its customers.

*These

facilities may be granted in connection with the purchase/import and sales/export of goods and machineries, and the acquisition and holding of stock and inventories, spares and replacements, raw materials and semi-finished goods

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Trade Financing
Products / Services Applicable Concepts Wakalah Murabahah Ijarah Bai' Bithaman Ajil

Letter of credit-i

Trust receipt-i Export credit refinancing-i Bank guarantee-i Shipping guarantee-i

Wakalah Murabahah
Murabahah Bai' Dayn Kafalah Kafalah

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* Letter of

Credit-i (LC-i) is a written undertaking by the Islamic bank, given to a seller (the beneficiary) at the request and on the instructions of the buyer (the applicant), to pay at sight or at a determinable future date - a stated sum of money within a prescribed time limit and against stipulated documents which must comply with terms and conditions. wakalah (agent) and

* LC-i can be issued by combining the contract of

murabahah (cost plus profit).

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* There are several stages involved in the modus operandi of

LC-i:

a)Importer negotiates and enters into agreement with exporter. b)Importer

exporter. applies to his Islamic bank to issue LC-Ii in favour of the

c)Importers Islamic bank will forward the LC-i directly to the exporter or
through its agent.

d)The

agent (advising Islamic bank subsequently advises the exporter (beneficiary) that the LC-i has been issued in his favour. satisfied with the terms of LC-i, ships goods, prepares the export documents as required in the LC-i and presents the documents to his Islamic bank/nominated Islamic bank/confirmed Islamic bank for payment (now acts as a negotiating Islamic bank).
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e)Exporter, if

* Trust receipt (TR-i) is a financing facility to finance domestic or international

trade documents drawn against Letter of Credit-i or wakalah Inward Bills for Collection. Islamic banks issue this instrument based on the murabahah principle. TR-i.

* The following are the stages involved in the modus operandi of

a)Customers

must first have an approved TR-i line. Request for financing must include submission of relevant documentary evidence of the underlying transactions and compliance to the terms of the facility.

b)The Islamic bank appoints the customer as its agent to purchase goods that the customer requires on behalf of the Islamic bank. c)Upon delivery of the goods, the Islamic bank pays the exporter/supplier for the cost of the goods based on the invoice value.
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d) e)

The Islamic bank will resell the goods from the customer at invoice value and resell them to the customer on deferred payment terms at a price inclusive of the Islamic banks profit margin. The deferred payment terms of sale of goods granted to the customer constitutes a creation of debt. This is securitised in the form of a Bill of Exchange drawn by the Islamic bank and accepted by the customer and payable on maturity. The Islamic bank holds customers TR-i executed by him to signify his holding of goods in trust pending the sale of the goods. The financing period is between 30 to 180 days for 100% of invoice value.

f) g)

h)

The customer undertakes to settle the Selling Price on the expiry date.

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* Export

credit refinancing (ECR-i) scheme was originally launched by Islamic bank Negara Malaysia (BNM) in 1993 as an alternative to exporters to finance their export through an interest-free export credit system. * The scheme is available for both pre and post-shipment financing. Islamic banks issue this instrument based on Murabahah

* The following are the stages involved in the operation of

a)The

ECR-i.
the the the and

exporter manufacturer is appointed as the Purchasing Agent for Islamic bank. b)The required raw materials/goods would be purchased by exporter/manufacturer on behalf of the Islamic bank. c)The Islamic bank would then sell the merchandise to exporter/manufacturer at a price, which is inclusive of a profit margin allowing the exporter/manufacturer a deferred payment term.
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*A

Bank Guarantee is an indemnity letter in which the Islamic bank commits itself to pay a certain sum if a third party fails to perform or if any other form of default occurs. an Islamic bank wants a carrier to release a shipment which it has financed but the original bills of lading are not yet available for surrender to the carrier. Bank guarantee-i is issued based on the kafalah principle. BG-i:

* One use is when

* The following are the stages involved in the operation of

a)Customers must first have an approved BG-i line. Request for financing must
include submission of relevant documentary evidence of the underlying transactions and compliance to the terms of the facility.

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b)

Customer requests the issue of BG-i. The BG-i may be provided in respect of the performance of a task or the settlement of a commitment.

c)
d)

The Bank issues BG-i if Shariah principles and other requirements, are met.
The Bank must honour and effect immediate payment in case a claim is made by the beneficiary on first demand, provided the claim meets all the conditions of the guarantee. The Bank charges the customer a fee for the services provided.
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e)

* Shipping

Guarantee (SG-i) is primarily a letter of indemnity to the owners and of the vessel for delivery of goods without the document of title to goods. performance and indemnity issued by the Bank on behalf of the buyer / importer.

* The SG-i is a letter of

* This letter of

performance and indemnity, signed by the buyer / importer and countersigned by the Bank, is addressed to the owner of the vessel (ship) for release and delivery of the relative goods to the buyer / importer without production of the relative Bill of Lading.

* Islamic banks use the kafalah principle to issue this instrument.

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 The following are the stages involved in the operation of

SG-i.

a)

The buyer applies for a SG-i from the Bank. The buyer has to comply with the necessary banks procedure and the Bank may require the customer to place a certain amount of deposit for this facility.
The Bank issues SG-i signed by the consignee and countersigned by the Bank to guarantee performance by the consignee. The buyer presents the SG-i to the shipping company and takes delivery of the relative goods. The exporters bank delivers the Bill of Lading together with the other relevant documents to the Bank.
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b) c) d)

e)

The Bank then presents the following documents to the buyer: Bill of Lading and Advice to the shipping company - (requesting them to return the original SG-i for cancellation) and Redemption letter. The buyer takes hold of the documents. The buyer/importer then presents the duly endorsed Bill of Lading to the shipping company.
The shipping company returns the SG-i or Letter of Discharge to the buyer or the issuing bank for cancellation. The buyer than presents the SG-i or Letter of Discharge to the Bank for cancellation. The Bank charges the customer a fee for the services provided.
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f)
g) h)

EQUITY FINANCING
* Equity
* This * To
financing generally is composed of funds that are raised by a business in exchange for an ownership interest in a company.
interest can be in the form of ownership of common or preferred stock or instruments that convert into stock. taking an ownership interest in a company, equity investors may also participate as members of the companys board of directors and take an active role in managing the company. comparison to debt financing, which must be repaid over time, equity financing does not have to be repaid.
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* In

EQUITY FINANCING

Products / Services

Applicable Concepts
Diminishing Musyarakah Mudarabah
Mudarabah project financing-i

Property financing-I Project Financing -i

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Features

The customer and the Islamic bank as musharakah partners agree to enter into a joint venture or musharakah based on the principles of musharakah mutanaqisah (diminishing musharakah).

Musharakah Mutanaqisah is a form of partnership in which one of the partners promises to buy the equity share of the other partner gradually until the title to the equity is completely transferred to him.
The transaction starts with the formation of partnership, after which buying and selling of the equity take place between the two partners. It is therefore necessary that this buying and selling should not be stipulated in the partnership contract. In addition, the buying and selling agreement must be independent of the partnership contract. It is not permitted that one contract be entered into as a condition for concluding the other.
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Features

* Both also agree to provide the capital contribution in the form and manner set
out as follows. The musharakah is divided into equal musharakah shares.

* Each musharakah share constitutes the equivalent of

total capital contribution.

one per cent (1%) of the

* the customer and the Islamic bank each own a number of

musharakah shares in the musharakah commensurate with their respective capital contribution. the musharakah is to facilitate the purchase of the property on behalf of the musharakah for an amount equal to the purchase price
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* The purpose of

Mechanism

Diagram F: Mechanism of Musharakah Mutanaqisah

a. Diminishing Musharakah Home Finance Agreement

Customer

Bank b. Diminishing Musharakah

90%

Title to property

10%

The Bank has charge over property

c. Property

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Features

* Mudarabah project financing is a contract between two parties where Islamic

banks provide the financing and the customers provides the expertise, management and labor.

* Profits are shared by both the parties in a pre-agreed proportion, but when a
loss occurs the total loss is borne by the Islamic banks.

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Mechanism

Diagram G: Mudarabah Project Financing

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Rabbul-Mal (Islamic Banks) Contract of Mudarabah Profit Sharing ratio X:Y Capital comes from Islamic banks Profit Shared in acccordance to Predetermined ratio (X:Y)

Mudarib (Customers)

Y% to Rabbul-Mal

X% to Mudarib

Project Revenue
Loss Borne totally by rabbul-Mal

Invest in Project

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MONEY MARKET
Products / Services Bank Negara Monetary Notes-i (BNMN-i) Commercial papers-i Government investment issues-i Negotiable debt certificate-i Islamic Negotiable Instruments (INI) Applicable Concepts Bai' al-Inah Murabahah Bai' al-Inah Bai' Bithaman Ajil Mudharabah

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* BNMN-i are Islamic securities issued by Bank Negara Malaysia replacing

the existing Bank Negara Negotiable Notes (BNNN) for purposes of managing liquidity in the Islamic financial market.

* The instruments will be issued using Islamic principles which are deemed
acceptable to Shariah requirement. The maturity of these issuances has also been lengthened from one year to three years.

* New

issuances of BNMN-i may be issued either on a discounted or a coupon-bearing basis depending on investors' demand.

* Discount-based BNMN-i will be traded using the same market convention

as the existing BNNN and Malaysian Islamic Treasury Bills (MITB) while the profit-based BNMN-i will adopt the market convention of Government Investment Issues (GII).
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The INI covers two instruments such as:-

i) Islamic Negotiable Instruments of Deposit (INID)

The applicable concept is Al-Mudharabah. It refers to a sum of money deposited with the Islamic banking institutions and repayable to the bearer on a specified future date at the nominal value of INID plus declared dividend. ii) Negotiable Islamic Debt Certificate (NIDC)

The transaction involves the sale of banking institution's assets to the customer at an agreed price on cash basis. Subsequently the assets is purchased back from the customer at principal value plus profit and to be settled at an agreed future date.
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CARD SERVICES
Products / Services Charge card-i Credit card-i Debit card-i Applicable Concepts Qard Bai' al-Inah Bai Bithaman Ajil Ujr

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i.CHARGE CARD
* A charge card is a payment card with a preset limit that can be used to
make payments for goods and services at participating merchants either locally or internationally.

* With a charge card, you are expected to pay upon receipt of

a monthly statement. Nevertheless you do receive a loan up to the date of the payment. people write a cheque to pay off their card bill. The American Express Green Card is the predominant charge card.

* Most

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CHARGE CARD
*Similar
to credit cards, the merchant must swipe or insert your charge.

*The charge card issuer will pay the merchant on your behalf
and will send you a monthly statement on your transactions whereby you will have to settle the outstanding balance in full by the payment due date.

*The

amount payable is different in comparison to credit cards whereby credit cards allow you to pay the minimum monthly repayment.
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ii. CREDIT CARD

*

*
* * *

With a credit card, you can pay your charges in full or finance them up to the credit limit that the card issuer has offered you. As with a charge card you get a loan, but you can extend the term of the loan almost indefinitely so long as you make a minimum payment each month. The most widely used is the Citi Visa card. Because credit cards now play such an important role in the retail economy. Bank Islam Card (BIC) is the first credit card, which is purely based on Shariah contract, to be offered to Muslim and non-Muslim. BIC is completely free from any riba or gharar.

Riba is usually translated as "interest" which means an extra amount charged in transactions dealing with silver, gold or money. Gharar is defined as uncertainty or ambiguity, which has been removed from BIC since the maximum profit earned has been declared upfront.
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* E.g:

The Shariah contracts being used in the operations of BIC, namely: Bai Inah
two agreements (aqad). land to the customer

* Bai Inah comprises of

at an agreed price.

* In the first agreement, the bank sells a piece of

* While in the second agreement, the Bank re-purchases the land from
the customer at a lower price.

* The difference in the price is therefore the Bank's maximum profit,

which is determined in advance, unlike the conventional credit card whereby the interest charged is undetermined and it may further increase.
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iii. DEBIT CARD

* With
* The
a debit card, the payment comes right out of your checking account.
card is issued by the entity that holds your money on deposit, probably a bank, but possibly a money market fund. When you present your card, money is transferred from your account to the merchants account that day. The Mybank kawanku card issued by Maybank Berhad is a typical debit card. it can be called an electronic cheque, as the funds are withdrawn directly from either the bank account, or from the remaining balance on the card. cash, acting as the ATM card for withdrawing cash and as a cheque guarantee card.
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* Functionally,

* Debit cards can also allow for instant withdrawal of

BANK SERVICES
Products/Services Stock broking services TT / Funds Transfer Travellers' Cheques Demand Draft Cashiers' Order Standing Instruction ATM Service Telebanking Applicable Concepts Ujr Ujr Ujr Ujr Ujr Ujr Ujr Ujr

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STANDING INSTRUCTION
* A Standing Instruction is a remittance service by which a customer can
instruct an Islamic bank to affect regular fund transfers at pre-set timings and amounts from the customers deposit account to designated beneficiary accounts.

* The Standing Instruction service can be used to effect:

Repayment of financing / hire purchase instalments; Payment of bills / school fees / takaful contributions, etc; Salary payments Inter-account transfer of funds Payment of safe deposit box rental Inter-account transfer of SIA return upon auto-renewal
processed)

(to be manually

purchase

of cashiers orders (which will be mailed to applicant customer via registered post) 57

STANDING INSTRUCTION
* A Standing Instruction is just like an automatic bill payment but instead
of paying a bill, it puts our money into our investment every month, automatically.

* It works best with unit trusts. It allows us to take advantage of

ringgitcost-averaging concepts by investing both in bear and bull markets. If we are not into investments, we can deposit our savings accounts, or sukuk.

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Fees and Charges

Standing Instruction (SI)

Subject Standing Instruction Interbank

Charges Upon Application/Renewal Recurring

Rate / Amount RM10.00 stamp duty RM2.00 + other charges

Standing Instruction Inter and In Branch for AFT and Sweep Arrangement

Upon application - service RM10.00 + RM10.00 stamp duty charge except instruction involving Banks financing facility repayment/Takaful

Standing Instruction Inter and In Branch

Unsuccessful Standing Instruction

RM2.00 per SI

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PRODUCTS AND SERVICES OF SELECTED BANKS

BIMB
PERBANKAN ELEKTRONIK Perbankan Internet Kad Smart Perbankan Desktop Kemudahan Rangkaian MEPS Sistem Pembayaran GIRO Antara-Bank MEPS Pusat Perbankan Elektronik
DEPOSIT Akaun Semasa Akaun Simpanan Wadiah Akaun Simpanan Mudharabah Akaun Simpanan Wadi Akaun Simpanan Ijraa Akaun Simpanan Pewani Akaun Pelaburan Akaun Pelaburan Sakinah Sijil Hutang Islam Boleh Niaga

B.MUAMALAT
ELECTRONIC BANKING PRODUCTS ATM Autopay Direct Debit Muamalat OnLine

MAYBANK

DEPOSIT PRODUCTS Al-Wadiah Savings Account-i Al-Wadiah Current Account-i Al-Mudharabah General Investment Account-i Al-Mudharabah Special Investment Account-i

DEPOSIT PRODUCTS Premier Mudharabah Accounti Wadiah Accounts Mudharabah Investment Accounts

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BIMB

B.MUAMALAT

MAYBANK
TRADE FINANCE PRODUCTS Wakalah Bills for Collection-i Murabahah/Wakalah Letter of credit-i Murabahah Trust Receipt-i Bills Exchange Purchased-i Bank Guarantee-i Shipping Guarantee-i Islamic Accepted Bil-il Islamic Export Credit Refinancing-I

PEMBIAYAAN PERDAGANGAN TRADE FINANCING Surat Kredit DI Bawah Prinsip Al Al-Murabahah Working Capital Wakalah Financing Surat Kredit DI Bawah Prinsip Al Bai Al-Dayn Working Capital Musyarakah Financing Surat Kredit DI Bawah Prinsip Al Islamic Letter of Credit Murabahah Islamic Accepted Bill Surat Jaminan Islamic Export Credit Refinancing Pembiayaan Modal Pusingan Di Islamic Foreign/Domestic Bill of Bawah Al-Murabahah Exchange Purchased (Documentary) Pensekuritian Dan Bil Penerimaan Islamic Foreign/Domestic Bill of Islam (IAB-Import) Exchange Purchased (Authority to Pensekuritian Dan Pembiayaan Purchase) (IAB-Eksport) Al-Kafalah Shipping Guarantee Skim Pembiayaan Semula Kredit Al-Kafalah Letter of Guarantee Eksport (IECR) Islamic Foreign/Domestic Inward Bill Maklumat Pembiayaan for Collection Perdagangan Islamic Foreign/Domestic Outward Bill for Collection
61

BIMB
PEMBIAYAAN PENGGUNA Pembiayaan Rumah Baiti Pembiayaan Pendidikan Pembiayaan Kedai & Rumah Kedai Pembiayaan Kenderaan Pembiayaan Peribadi Pembiayaan Keahlian Kelab Golf Pembiayaan Tanah Kemudahan (Overdraf) Naqad Skim Pembiayaan Ar-Rahnu Kad Bank Islam Pembiayaan Umrah & Pelancongan Pakej Pembiayaan

B.MUAMALAT
FINANCING PRODUCTS BBA Home Financing Istisna Home Financing BBA Fixed Asset Financing Istisna Fixed Asset Financing Cash Line Facility (MCASH) Education Financing Scheme (MEFiS) Istisna Project Financing Ijarah Financing Revolving Financing (MRF)

MAYBANK
FINANCING PRODUCTS BBA Home Financing-i Tamwil Cash Line Facility-i Murabahah Cash Line Facility-i

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BIMB
PEMBIAYAAN KORPORAT Pembiayaan Berkala - Al-Bai Bithaman Ajil (BBA) Pembiayaan Penyambung - Al Istisnaa Pembiayaan Projek - Al-Musyarakah Pembiayaan Projek Al-Mudharabah Al-Ijarah Al-Muntahiah Bit Tamlik Pembiayaan Bersindiket Persekuritian/Pengeluaran Bon Islam Al-Ijarah Al-Naqad Maklumat Pembiayaan Korporat Skim Pembiayaan SME PERKHIDMATAN LAIN Amanah Saham Bank Islam Pembayaran Zakat Kiriman Wang BIFCA - Jual-beli Mata Wang Asing Jual-beli Cek Kembara Penjualan Resit YPEIM

B.MUAMALAT
TREASURY PRODUCTS Foreign Exchange Special Investment Account (SIA)/Islamic Repo Investments and Trading in Islamic Securities

MAYBANK

OTHER SERVICES Safe Deposits Box Protection

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Where to Get More Information *http://www.bnm.gov.my/ *http://www.bankislam.com.my/ *http://www.maybank2u.com/ *http://www.channel-e.com.my/ *http://islamic-finance.net/ *http://www.ibfim.com *http://www.irti.org/ *http://www.alrajhibank.com.sa *http://www.islamicbankingonline.com *http://www.ifsb.org *http://www.bahisl.com.bh *http://www.albaraka.com.pk/
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