Banking > Islamic Banks
null Affin Islamic Bank
Affin Islamic Bank
Affin Islamic Bank Berhad (AFFIN ISLAMIC), a wholly-owned subsidiary of Affin Bank Berhad (AFFINBANK) was incorporated on 13 September 2005 and officially operates as a standalone Islamic bank with effect from 1 April 2006. As at 31 December 2017, its paid up capital stood at RM1.06 billion.
As a full-fledged Islamic bank, AFFIN ISLAMIC offers a complete range of Islamic Banking products and services to Small Medium Enterprises (SMEs), Institutional, Retail and Corporate customers.
AFFIN ISLAMIC has been at the forefront of introducing innovative and Shariah compliant products which adopts variety of Shariah concepts ranging from Musharakah Mutanaqisah, Mudarabah, Istisna, Ijarah, Murabahah and others.
The Bank’s products and services provides a clear demarcation between deposits, investment accounts and financing to best meet the need of retail and business enterprises.
The Bank together with five (5) other Islamic banks pioneered the Investment Account Platform (IAP) which is a platform to bridge funding requirements of businesses, mainly SMEs, with institution and retail investors. The IAP was officially launched by the Governor of Bank Negara Malaysia on 17 February 2016 and aims to offer investment opportunities as another asset class locally and internationally. This represents a quantum leap in the Bank’s commitment to play a part in advancing Islamic banking within the local and international financial landscape.
In line with Malaysia’s Financial Sector Blueprint that aspires to transform the country into a global hub for Islamic Financial Services, AFFIN ISLAMIC will continuously conduct research and development into new financial products and services that are capable of competing in the global financial arena.
As at 31 December 2017, AFFINBANK and AFFIN ISLAMIC have a network of 108 branches in Malaysia. Log on to www.affinbank.com.my or www.affinislamic.om.my; or visit any AFFINBANK or AFFIN ISLAMIC branches nationwide.
Area of Services
- Investment Account Platform Venture
- Strategic Partner to Waqf Fund Development
- Education Financing-i
- AFFIN Barakah Charity Account-i
- SME Solutions
- Liquidity and Supply Chain
- Islamic Financing provider to TNB for country’s largest solar farm project of RM339 million (2017).
- Islamic Financing provider of 30 megawatt Large Scale Solar Photovoltaic (“LSSPV”) project totaling RM130.34 million in Perak (2018).
Affin Islamic Bank Berhad
17th Floor, Menara Affin,
Jalan Raja Chulan,
50200 Kuala Lumpur, Malaysia
Nazlee bin Khalifah
T +603 2055 9000
Ferdaus Toh Bin Abdullah
T +603 2055 9000
Note: licensed to operate International Currency Business Unit (ICBU)