Maybank Islamic Berhad is the Islamic banking arm of Malaysia’s Maybank Group and the largest Islamic bank in ASEAN. Set up as a subsidiary in 2008, it reported RM351.7 billion in Islamic banking assets and RM2.72 billion in profit before tax and zakat for 2024, according to Euromoney, which named it Asia’s best Islamic bank in 2025.
Maybank Islamic at a glance
| Established | 2008, as a subsidiary of Maybank |
| Parent | Malayan Banking Berhad (Maybank), founded 1960 |
| Headquarters | Kuala Lumpur, Malaysia |
| Islamic banking assets | RM351.7 billion (2024), up 6.7% |
| Profit before tax and zakat | RM2.72 billion (2024), up 5.5% |
| Recognition | Euromoney Asia’s Best Islamic Bank 2025; The Banker Global Islamic Bank of the Year 2020 |
How did Maybank Islamic come about?
Maybank, founded in 1960, is Malaysia’s largest bank. It moved its Islamic banking business into a dedicated subsidiary, Maybank Islamic Berhad, in 2008, according to Maybank’s Wikipedia entry. The subsidiary model gives the Islamic business its own balance sheet, governance and Shariah committee while still drawing on the parent’s branch network and systems.
What does it offer?
Maybank Islamic covers the full range of retail, business and investment banking on Islamic terms. A few products illustrate its approach, all cited by Euromoney:
- HouzKEY: a Shariah-compliant home ownership product with no payments during construction, which has helped 6,453 Malaysians buy homes across nine states.
- Maybank Islamic Gold Account-i: a fully digital gold savings account with more than 380,000 accounts opened and over RM2 billion in transactions.
- Digital Supplier Financing Programme-i: a supply chain product that cut facility approval times from about 90 working days to three.
What is its role in the sukuk market?
The bank is a major arranger of ringgit sukuk. It ranked second on Bloomberg’s Ringgit Malaysia Sukuk League Table at the end of 2024 and advised on the first sustainability-linked sukuk from the plantation sector and Westports Malaysia’s RM5 billion sukuk wakalah. It is also one of the primary dealers of the IILM’s short-term sukuk, which places it at the centre of cross-border Islamic liquidity in the region.
Where does it operate?
Beyond Malaysia, Maybank Islamic has operations or presence in Dubai, Indonesia, Singapore, Hong Kong, London and Labuan. In August 2024 it opened an Islamic banking window at Maybank Philippines in Zamboanga City, extending Islamic banking into a market where it is still small.
How does it compare with peers?
Euromoney describes Maybank Islamic as one of the world’s five largest Islamic banks by assets. Its closest peers in scale are Gulf banks such as Al Rajhi Bank and Kuwait Finance House. The difference is in the model: Al Rajhi and KFH are standalone Islamic banks, while Maybank Islamic is the Islamic arm of a conventional banking group, the structure that dominates Malaysia’s Islamic banking sector.
How to connect
Products, rates and branch information are available on the official Maybank Islamic pages at maybank2u.com.my.
FAQ
Yes. Maybank Islamic Berhad is a separately licensed subsidiary of Maybank, established in 2008.
Yes. It is the largest in Malaysia and in ASEAN by assets.
Its Islamic banking assets reached RM351.7 billion in 2024, according to Euromoney.
Yes, including Dubai, Indonesia, Singapore, Hong Kong, London and the Philippines.
