Maybank Islamic wins best domestic Islamic bank in Malaysia following a period marked by strong financial results, impactful environmental, social and governance initiatives and landmark transactions.
The bank, total assets of RM19 billion ($3.4 billion), has a 29.32% market share in Islamic financing and 26.04% in Islamic deposits and investment accounts in Malaysia. Profit before tax was RM2,579.3 million.
It launched its 'Urban farming' project across five sites in Malaysia to drive community development. It has invested RM350,000 to develop aquaponics areas, allowing low-income beneficiaries to generate supplementary income.
The bank also introduced its halal ecosystem platform to connect and elevate halal market players across the country.
Maybank Islamic’s newly introduced myimpact card, equipped with a built-in carbon footprint tracker, was another initiative during the awards period. It is the first card on the market to promote responsible and ESG-friendly spending in Malaysia.
Overall, the lender had mobilised RM14 billion in sustainable finance initiatives by September 2023.
The bank also advised on several marquee sukuk deals in Malaysia, including a RM1.5