Islamic Banking: Personal Banking And Business Banking

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In Maybank Islamic, there are various Islamic products ranging from personal banking to business banking. Those products are using either shariah-based or shariah-compliance financial instruments such as wadiah, mudharabah, musyarakah, musyarakah mutanaqisah and others. In personal banking, there are save & invest, credit cards and financing. Meanwhile, under business banking there are term financing, working capital, deposit, trade finance and government/special funds.
Wadiah
Wadiah is the simple contract which in a simpler term can be called as safe-keeping. In Islamic banking, wadiah refers to the deposited property, the acceptance of sums of money for safe-keeping in a Shari'ah-compliant framework, under which it will be repaid. Islamic banks use the concept of Wadiah to accept deposits from customers. A bank is deemed as a keeper and trustee of funds and becomes wholly responsible and liable for its safekeeping with a guarantee refund of the entire amount of the deposit, or any part of the outstanding amount, when the depositor demands repayment. The bank may at its discretion and in certain circumstances reward the customer with a payment in the form of Hibah as appreciation for keeping the funds with the bank.

Murabahah
Murabahah is a particular kind of sale where the seller actually mentioned about the cost incurred for that particular commodity and before selling it to another party, seller add some profit or mark up. This markup is known by the buyer as the requirement includes an "honest declaration of cost".
Commodity Murabahah Home Financing-i
Maybank Islamic applies the concept of murabahah in one of its product which is Commodity Murabahah Home Financing-i. In this particular product, the bank provides home fi...

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...to make payments of rent under the lease and acquire the financier's share in the property at a fixed price under the Musharakah Mutanaqisah Agreement, the customer charges by way of security in favour of the financier, its interests in the property under the Lease and the Musharakah Mutanaqisah Agreement.

Musharakah Mutanaqisah Term Financing-i (MMTF-i)
Maybank Islamic provides Musharakah Mutanaqisah Term Financing-i (MMTF-i) for customers to finance their acquisition of assets such as landed properties, plant & machinery, vessels, commercial vehicles and many more. As stated in its name, this product is applying Musharakah Mutanaqisah concept.
The tenure of MMTF-i can be up to 20 years. The pricing of this product is competitive as per the Conventional loan which could be offered under fixed rate, floating rate or combination of both fixed and floating rate.

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