Page 11 - Full Book_24.4.2021

ISLAMIC BANKING
& FINANCE In Retrospect
Through our various subsidiaries,
we have established extensive Established in June 1983, Bank Islam Malaysia |
Berhad is the first to introduce Shariah-compliant banking
and diversified businesses across products to the Malaysian public. As the nation’s pioneering The Will to Suceed
the Islamic financial industry. Islamic bank, it is responsible for laying the foundation for the
Islamic economy’s remarkable growth in Malaysia. Bank Islam has
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also played its part in nurturing the growth of Islamic banking and
finance regionally by offering its wealth of expertise and experience to
various foreign institutions in establishing their version of Islamic banks.
Bank Islam has played and continues to play, a huge role in advancing Achieving a Leading Repute
[198301002944 (98127-X)] Islamic banking system to rival that of its conventional banking
counterpart and be widely accepted by the public.
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Driven by innovation, Bank Islam’s wealth of banking products is
complemented by its end-to-end financial solutions that fulfil its
customers’ evolving needs. Forging its reputation with a focus
on pure Shariah-compliant solutions, Bank Islam is well Paving the Way for a Sustainable Future
regarded by the industry as the source of Shariah
TAKAFUL reference. This reputation will stand Bank Islam
in good stead as it continues to offer
Syarikat Takaful Malaysia Berhad innovative products and fulfil
(“STMB”) was incorporated on 29 November them.
1984. The Company has a paid-up capital of
RM211.9 million with total assets of RM11.8 billion at 9
the Group level as of 31 December 2020. In accordance
with the Islamic Financial Services Act 2013 (“IFSA”),
STMB separated its composite licence into two (2) licensed [198401019089 (131646-K)]
entities. STMB, now known as Syarikat Takaful Malaysia
Keluarga Berhad (“STMKB”) manages the Family Takaful
business whilst Syarikat Takaful Malaysia Am Berhad STOCKBROKING
(“STMAB”) manages the General Takaful business. Adhering to the Best Governance Practices
STMKB is the holding company and owns 100% of Founded in 1994, BIMB Securities
STMAB. Both STMKB and STMAB operate through Sdn. Bhd. quickly established itself
a combined network of service centres across as the first full-fledged Shariah-compliant
24 locations nationwide. stockbroking firm in Malaysia. Opening its services
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to all customers, regardless of their race and religious
background, BIMB Securities is also the only end-to-end
Shariah-compliant Participating Organisation of Bursa
Malaysia, principally conducting the activities of dealing in
securities on Bursa as well as performing other permitted Laying the Foundation for Financial Growth
business activities within the Shariah-compliant space.

BIMB Securities provides an avenue for its customers to
[199401004484 (290163-X)]
invest in shares of listed companies that only conduct
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Shariah-compliant business activities based on the
List of Shariah-Compliant Securities, which is
published by the Shariah Advisory Council
Today, as a Group, our wealth of pioneering and innovative
Shariah-compliant financial and banking products have opened of the Securities Commission
a new dimension for the industry and transformed the country’s of Malaysia. Additional Information & Disclosure Summary
financial landscape. We are proud of the distinctive DNA of
innovative leadership, responsible finance, and sterling governance
that our subsidiaries have inherited. The time has come to take With BIMB Securities being incorporated as the Bank’s subsidiary,
our bow as we pioneer another first and transfer our listing status the time has come for the company to proliferate a new business
to our wholly-owned subsidiary Bank Islam. model with more focus on retail consumers by leveraging on its
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parent company’s strength. For Takaful Malaysia, its future standing
For Bank Islam, this move will elevate its standing as the first as a standalone organisation will further boost its coming of age
and only full-fledged Islamic banking institution to be listed in as Malaysia’s leading Islamic insurer capable of growing from 24 th AGM Information
Malaysia, and unlock tremendous value for our stakeholders. strength to strength within an increasingly dynamic environment.