Islamic banking, Islamic finance, or Sharia-compliant finance is banking or financing activity that complies with Sharia and its practical application through the development of Islamic economics. Some of the modes of Islamic finance include mudarabah, wadiah (safekeeping), musharaka, murabahah (cost-plus), and ijarah (leasing).
The Central Bank of Malaysia is the Malaysian central bank. Established on 26 January 1959 as the Central Bank of Malaya, its main purpose is to issue currency, act as the banker and advisor to the government of Malaysia, and to regulate the country's financial institutions, credit system and monetary policy. Its headquarters is located in Kuala Lumpur, the federal capital of Malaysia.
Islamic banking in Malaysia began in September 1963 when Perbadanan Wang Simpanan Bakal-Bakal Haji (PWSBH) was established. PWSBH was set up as an institution for Muslims to save for their Hajj expenses. In 1969, PWSBH merged with Pejabat Urusan Haji to form Lembaga Urusan dan Tabung Haji.
Malayan Banking Berhad is a Malaysian universal bank, with key operating "home markets" of Malaysia, Singapore, and Indonesia. According to the 2020 Brand Finance report, Maybank is Malaysia's most valuable bank brand, the fourth-top brand amongst the ASEAN countries and ranked 70th among the world’s most valuable bank brands.
Takaful is a co-operative system of reimbursement or repayment in case of loss, organized as an Islamic or sharia-compliant alternative to conventional insurance, which contains riba (usury) and gharar.
AmBank Group comprises AMMB Holdings Berhad is one of the largest banking groups in Malaysia whose core businesses are retail banking, wholesale banking, Islamic banking, and life and general insurance.
Tan Sri Azman bin Hashim, is a Malaysian investor who is one of the richest people in Malaysia and his net worth was estimated by Forbes to be US$600 million in 2006.
Kuwait Finance House (KFH) was established in the State of Kuwait, in 1977, as the first bank operating in accordance with the Islamic Shari'a rulings. KFH is listed in Kuwait Stock Exchange (KSE), with a market capitalization of $8.2 billion as of May 2016. Assets total $55.52 billion and deposits amount to $34.97 billion
Humayon Dar is the director general of the Cambridge Institute of Islamic Finance, a research institute specializing in the financial sectors of the countries with significant proportion of Islamic banking and finance.
Dubai Banking Group is the global shari'a compliant financial investor of Dubai Group with assets valued at over USD 10 billion. The group was established in 2007 when Dubai Islamic Investment Group, founded in 2004, and Dubai Bank, founded in 2002, consolidated their activities to form Dubai Banking Group.
A Sharia Board certifies Islamic financial products as being Sharia-compliant. Because compliance with Sharia law is the underlying reason for the existence of Islamic finance, Islamic banks should establish a Sharia Supervisory Board (SSB) to advise them on whether their products comply, and to ensure that their operations and activities comply with Sharia principles. There are also national Sharia boards in many Muslim majority countries that regulate Islamic financial institutions nationwide.
Global Islamic Finance Awards (GIFA) are awards in Islamic banking and finance. GIFA was founded by the consulting firm Edbiz as part of its advocacy for Islamic banking and finance.
Abdul Wahid bin Omar is a Malaysian banker and investor who has served as Chairman of the Bursa Malaysia since May 2020 and Chairman of the National University of Malaysia (UKM), one of Malaysia top universities, since November 2018.
The Malaysia International Islamic Financial Centre (MIFC) is an initiative of Malaysia’s financial market regulators and relevant government agencies dedicated to developing Malaysia’s Islamic finance market by engaging with industry and government. The initiative was launched in 2006 and is based in Kuala Lumpur, Malaysia.
International Shariʽah Research Academy for Islamic Finance (ISRA) is an Islamic finance research institution in Malaysia that focuses on sharia-related issues
Rusni Hassan currently is a Professor and Dean at IIUM Institute of Islamic Banking and Finance, International Islamic University Malaysia. Previously, she was a Deputy Dean at the Institute, a Coordinator for Research and Publication and Course Coordinator for Islamic Law of Transactions and Islamic Banking and Takaful. She was a Research Committee for Review of Islamic Banking Laws, Central Bank of Malaysia and an examiner for Financial Planner Association of Malaysia. Presently she is the examiner for the Chartered Institute of Management Accountants. She was a member of Shariah Advisory Council Bank Negara Malaysia and Shariah Advisor for Association of Islamic Banking Institutions Malaysia. She also served as Secretary for the Association of Shariah Advisors in Islamic Finance Malaysia for 8 years starting from 2012 until 2020.
Muhammad bin Ibrahim was the 8th Governor of the Central Bank of Malaysia. He assumed the office of Governor on 1 May 2016, succeeding Zeti Akhtar Aziz. He tendered his resignation on 6 June 2018.
The Asian Institute of Finance Berhad (AIF) is a nonprofit organisation in Malaysia. Its main purpose is to enhance human capital development and talent management across the Asian financial services industry. AIF's headquarters is located in Kuala Lumpur.
Dato Seri Setia Dr. Haji Mohd Amin Liew bin Abdullah or also referred to as Dato Dr Amin, is a Bruneian politician and businessperson whom is the incumbent second Minister of Finance and Economy II and the Minister at the Prime Minister's Office (PMO) since 2018, and the chairman of the Brunei Economic Development Board (BEDB) and Bank Islam Brunei Darussalam (BIBD).
