Bank Muamalat Malaysia should not be confused with Bank Muamalat.
| Bank Muamalat Malaysia Berhad | |
| Type: | subsidiary |
| Foundation: | 1 October 1999 |
| Location: | Kuala Lumpur, Malaysia |
| Location Country: | Malaysia |
| Key People: | Khairul Kamarudin CEO, Tan Sri Tajuddin Atan Chairman |
| Industry: | Finance |
| Products: | Financial services |
Bank Muamalat Malaysia Berhad (Jawi:) started its operations on 1 October 1999[1] with a combined assets and liabilities brought over from the Islamic banking windows of the then Bank Bumiputra Malaysia Berhad, Bank of Commerce (M) Berhad and BBMB Kewangan.
Bank Muamalat Malaysia Berhad, the second full-fledged Islamic bank to be established in Malaysia after Bank Islam Malaysia Berhad, is poised to play its role in providing Islamic banking products and services to Malaysians, without regard to race or religious beliefs. The bank was based on a profit sharing model and its products weren't linked to the Bank Indonesia discount rate, thus surviving to the 1997 Asian financial crisis which increased the mean interest rate of the other Indonesian banks.
DRB-HICOM holds 70% shares in the Bank while Khazanah Nasional Berhad holds the remaining shares.