Islamic Economics Pif

BACKGROUND OF THE ORGANIZATIONS
A.History
Maybank is a word derived from Malayan Banking Berhad which is the largest
bank chain and financial group in Malaysia. Maybank was established on 31 May
1960. The founder of Maybank that year was Khoo Teck Puat who was a banking
expert and hotel tycoon born in Malaysia. Maybank has a large stake in Islamic
Banking through Maybank Islamic Bank and Insurance through its subsidiary Etiqa.
Maybank is the largest bank in Malaysia with more than 374 local branches and 90
overseas branches and offices. Maybank is listed on the second largest Malaysian
Stock Exchange, Bursa Malaysia, with a market capitalization of over RM30 billion
as of mid-April 2009.
On 12 September 1960, Maybank first occupied a corner shop in Jalan H S

Lee or known as High Street at that time. Maybank has become the first local bank
to serve the Malaysian community. In the following year, Malaysia's first local bank
began to expand throughout Southeast Asia, starting in Singapore and Brunei.
In the 1970s, Maybank was not only a financial institution but maybank served
as Malaysia's financial enabler. Malaysia has cooperated with newly formed
countries to facilitate economic development and develop local industries. At that
time, the Rural Credit Scheme and mobile banking (bus banking for rural areas)
were introduced to address economic imbalances and eliminate poverty which
became the main focus. In addition, Maybank pioneered agricultural and small
industry loans and more to drive local economic growth.
In the 1890s, 18 Maybank branches went online during this decade. Through
it all, we recognize that our strength lies in our people and develop various initiatives
to promote a better working environment. At this point, Malaysia in the modernization
of using computers in daily business is starting to become a habit. Maybank plays a
role in the development of technology in the industry, to make it easier for customers
to carry out daily transactions and more.
During the financial crisis of the 1990s, a robust bank presence weathered the
shocks that hit homes and businesses, bringing stability to the region and anchoring
it in tough times.
By the year 2000, Maybank aims to bridge the gap in the Islamic banking
sector by becoming the first bank in ASEAN to offer an Islamic window through its
subsidiary Maybank Islamic Berhad. Today, Maybank is the largest Islamic bank by
assets in ASEAN. Maybank also introduced sustainable programs that will bring
change to the community over time. Maybank launched Maybank2u Pay as a
payment gateway that aims to facilitate online purchases through smooth
transactions. In addition, Maybank also launched payments such as Maybank
QRPay, Maybank Anytime (MAE) and many more.
In 2010, a borderless future is now a reality. Like-minded people from all over
the world are using this connectivity for good. Today, the mission of humanizing
financial services continues to ensure that nothing or no one is left behind and
technological advances allow innovations that provide financial access and inclusion
for underserved communities around to move forward together.
B. Board of Director
Dato' Zulkiflee Abbas Abdul Hamid

Chairman Independent Non-Executive Director
Datuk Mohd Anwar bin Yahya

Independent Non-Executive Director
Dato' Azmi Bin Mohd Ali

En. Shariffuddin Khalid

En. Dali Sardar

Puan Natasha Kamaluddin

Prof. Dr Aznan Hasan

- Non Independent Non-Executive Director
- Professor, IIUM Institute of Islamic Banking
and Finance, International Islamic University
Malaysia
C. Vision
Maybank Islamic's aspiration and ambition to remain a global player in the industry is
supported by its Center of Excellence with the aim of becoming a thought leader in
the industry in promoting the convergence of sustainability and Islamic finance,
paving the way for the next phase of growth in Islamic finance.
D. Mission
Maybank's mission is to Humanize Financial Services including actively challenging

challenges to equitable growth and sustainability for all ASEAN communities.
E. Objective
To offer contemporary financial services in accordance with Islamic Sharia. To

contribute towards economic development and prosperity in the principles of Islamic
justice. Optimal allocation of limited financial resources and to help ensure equitable
distribution of income.
F. Awards and Recognitions
Best Islamic Retail Bank (Global)

Best Islamic Trade Finance Provider (Global)
Global Finance
Best Islamic Financial Institution (Asia)
Awards Best Islamic Financial Institution (Malaysia)
Best Islamic SME Bank (Global
Islamic Bank of the Year (Global)

The Bankers Awards Islamic Bank of the Year (Asia)
Global Business
Review Magazina Best Islamic Finance Bank Malaysia
Awards
13th Islamic Finance Best Islamic Finance Retail Bank

Awards Best Islamic Finance Wealth Management Bank
SUGGESTION
The first suggestion is to raise interest rates even higher. Today, the balance
that exceeds RM250 000 is only 0.60%. What about the group whose money is less
than RM10 000 only get an interest rate of 0.20% only. Every individual will of course
choose a bank with a high interest rate so that his money can increase and the
savings will definitely be of high value. This does not focus on profit to one side but
gains to the bank and customers as well. Maybank is a leading bank in Malaysia, so
of course it is the main target of every customer who consists of various races.
Savings accounts are among the more conservative investment options for
storing extra funds. In relation to that, Maybank should lower the minimum deposit
rate and minimum balance to maintain. The main focus is the minimum deposit rate
of RM250 to open a Maybank2u Savers Savings Account which has an online
system compared to the Basic Savings Account of only RM20 but without
maintenance. In this era, customers prefer online methods. Banks should lower the
minimum deposit rate so that people are not burdened, especially students, to open
an account.
The last suggestion is to improve the online system better. Fixing this system
aims to prevent cases of losing money in savings accounts from happening again.
The bank can provide such as Two-Step Verification apart from the 6 over-the-
counter (OTC) and password that have been provided now. But technology is
becoming more sophisticated which gives many individuals the ability to take money.
The bank's online system should also be constantly improved so that money is no
longer lost in the customer's account. This can give customers more confidence in
the bank.

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BACKGROUND OF THE ORGANIZATIONS

On 12 September 1960, Maybank first occupied a corner shop in Jalan H S

Dato' Zulkiflee Abbas Abdul Hamid

Datuk Mohd Anwar bin Yahya

Dato' Azmi Bin Mohd Ali

En. Shariffuddin Khalid

En. Dali Sardar

Puan Natasha Kamaluddin

Prof. Dr Aznan Hasan

Maybank's mission is to Humanize Financial Services including actively challenging

To offer contemporary financial services in accordance with Islamic Sharia. To

F. Awards and Recognitions

Best Islamic Retail Bank (Global)

Islamic Bank of the Year (Global)

13th Islamic Finance Best Islamic Finance Retail Bank

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