Maybank Islamic has made good progress across its Malaysia and Indonesia operations and is Asia’s best Islamic bank this year.
In Malaysia, the bank, led by Muzaffar Hisham, has launched urban farming sites aimed at supporting low-income families. This project not only promotes sustainable agriculture but also helps in supplementing the income of its beneficiaries.
The bank also introduced its myimpact card, a first-of-its-kind product in Malaysia that enables positive impact through responsible and environmental, social and governance-friendly spending.
It has also developed its halal ecosystem platform to support the Malaysian halal industry with services that enhance the integration of Islamic principles in everyday banking.
In Indonesia, the bank executed the country’s first interbank transaction under the commodity murabaha scheme through the Indonesia Commodity Exchange. Additionally, it launched the country’s first shariah wealth-management service, enhanced by the bank’s regional footprint.
Maybank was involved in several large-scale deals, for example, providing $100 million in sustainability-linked financing to AET Singapore Holdings, marking a first in the shipbuilding industry in southeast Asia.
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