BANKING AFFAIRS

Detailed explanation-1: -Maybank Islamic won the top awards at The Asset Triple A Islamic Finance Awards 2022, retaining its position as Islamic Bank of the Year in Asia Pacific and Malaysia respectively for the ninth consecutive year. It also won the Best Islamic Retail Bank in Malaysia award, a title it has held since 2010.

Detailed explanation-2: -Meezan Bank, Bank Islam Malaysia (BIMB) and Maybank Islamic are the top three strongest Islamic banks in Asia.

Detailed explanation-3: -The Islamic banking development in Malaysia was initiated by the commitment of the Malaysian government with the introduction of the Islamic Banking Act 1983 and the Government Investment Act 1983. Hence, the first Islamic bank establishment was the Bank Islam Malaysia Berhad (BIMB).

Detailed explanation-4: -Maybank Islamic Berhad, the Islamic finance arm of Maybank Group, is the largest Islamic Bank in ASEAN with total assets exceeding RM91 billion while dominating market share in almost all key segments.

Detailed explanation-5: -Dar-al-mal-al-Islami (DMI), based in Geneva, was established in 1981.