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Bank Islam

Bank Islam New Brand

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Old Brand Of Bank Islam

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Bank Islam emerged as Malaysia’s maiden Shari’ah-based financial institution when it commenced operations in July 1983. Since then, Bank Islam has become the symbol of Islamic banking in Malaysia. Its vision to be “The Global Leader in Islamic Banking” illustrates its status as the flag bearer of the country’s Islamic financial services industry.

official site: http://www.bankislam.com.my/
From only RM80 million initially, Bank Islam’s paid-up capital swelled to RM1.73 billion as at June 2009, which was instrumental in making possible the growth of its assets and the implementation of its expansion programmes.

Through a growing network of branches and self-service terminals which stand at 93 locations and 656 terminals nationwide, Bank Islam parades a comprehensive list of more than 50 innovative and sophisticated Islamic banking products and services, comparable to those offered by its conventional counterparts.

From the traditional financing, savings and investment types of products exclusively for individual customers in the early years of establishment, the range of Bank Islam’s Shari’ah-based financial products, services and business solutions has significantly expanded to cater to the fast-changing financial needs of all categories of customers including those related to micro financing, wealth management, capital market, treasury and structured products.

Being a pioneer, Bank Islam has played a leading role in promoting the expansion of Malaysia’s brand of Islamic finance into other markets, especially in the region. This has helped develop Bank Islam into a well-established and universally recognised brand. As the number of local and global financial services continues to increase, Bank Islam remains keenly aware of the pioneering role it must continue to play.

As a testament of this pioneering role, Bank Islam was awarded the Reader’s Digest Platinum Award for being the Most Trusted Brand for Islamic Financial Services. With the entrusted belief, Bank Islam is on its way in becoming “The Global Leader in Islamic Banking” and continues to remain guided by the excellent pioneering work by its predecessors, Malaysia’s ambition to be an international Islamic financial centre, the success of its turnaround efforts and the challenge from its competitors.

For more information on Bank Islam products and services, call Bank Islam Call Center at 6-03-26 900 900

Official Site: http://www.bankislam.com.my/
 
Bank Islam

Bank Islam New Brand



www.brandsoftheworld

Old Brand Of Bank Islam



pic: www.post-buzz.com

Bank Islam emerged as Malaysia’s maiden Shari’ah-based financial institution when it commenced operations in July 1983. Since then, Bank Islam has become the symbol of Islamic banking in Malaysia. Its vision to be “The Global Leader in Islamic Banking” illustrates its status as the flag bearer of the country’s Islamic financial services industry.

From only RM80 million initially, Bank Islam’s paid-up capital swelled to RM1.73 billion as at June 2009, which was instrumental in making possible the growth of its assets and the implementation of its expansion programmes.

Through a growing network of branches and self-service terminals which stand at 93 locations and 656 terminals nationwide, Bank Islam parades a comprehensive list of more than 50 innovative and sophisticated Islamic banking products and services, comparable to those offered by its conventional counterparts.

From the traditional financing, savings and investment types of products exclusively for individual customers in the early years of establishment, the range of Bank Islam’s Shari’ah-based financial products, services and business solutions has significantly expanded to cater to the fast-changing financial needs of all categories of customers including those related to micro financing, wealth management, capital market, treasury and structured products.

Being a pioneer, Bank Islam has played a leading role in promoting the expansion of Malaysia’s brand of Islamic finance into other markets, especially in the region. This has helped develop Bank Islam into a well-established and universally recognised brand. As the number of local and global financial services continues to increase, Bank Islam remains keenly aware of the pioneering role it must continue to play.

As a testament of this pioneering role, Bank Islam was awarded the Reader’s Digest Platinum Award for being the Most Trusted Brand for Islamic Financial Services. With the entrusted belief, Bank Islam is on its way in becoming “The Global Leader in Islamic Banking” and continues to remain guided by the excellent pioneering work by its predecessors, Malaysia’s ambition to be an international Islamic financial centre, the success of its turnaround efforts and the challenge from its competitors.

For more information on Bank Islam products and services, call Bank Islam Call Center at 6-03-26 900 900

Official Site: http://www.bankislam.com.my/
 
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Bank Muamalat

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pic: digialliance.com

History of Islamic Banking in Malaysia

Before the re-emergence of the Islamic financial system, the Muslims throughout the world has only conventional financial system to fulfill their financial needs. The Islamic resurgence in the late 1960's and 1970's has initiated the call for a financial system that allows Muslim to transact in a system that is in line with their religious beliefs. The Islamic banking system involves a social implication which is necessarily connected with the Islamic order itself, and represents a special characteristic that distinguished Islamic banks from other banks based on other philosophies. In exercising all its banking or developmental activities, the Islamic bank takes into prime consideration the social implications that may be brought by any decision or action taken by the bank. Profitability, despite its importance and priority, is not the sole criterion or the prime element in evaluating the performance of Islamic bank, since they have to match both the material and social objectives that would serve the interests of the community as a whole and help achieve their role in the sphere of social mutual guarantee. Social goals are understood to form an inseparable element of the Islamic financial system that cannot be dispensed with or neglected.

As the need to have an Islamic financial system was vital and immediate, Muslim scholars had taken the effort to embark on the development of Islamic financial system. This had led to the establishment of Islamic Development Bank in 1974 followed by the Islamic Bank of Dubai, the first Islamic commercial bank in 1975. In the following years, a number of Islamic banks were established, concentrated mainly in the Middle East such as the Islamic Bank of Faisal in Egypt (1977), the Islamic Bank of Faisal in Jordan (1978), Bank of Islamic Finance and Investment in Jordan (1978), Islamic Investment Company Ltd.in UAE (1979) and others.

In Malaysia, Islamic finance traces its root back to 1963, with the establishment of the Pilgrims Fund Board or Lembaga Tabung Haji (LTH). This was a savings mechanism under which devout Malaysian Muslim set aside regular funds to cover the costs of performing the annual pilgrimage. These funds were in turn invested in productive sectors of the economy, aimed at yielding return uncontaminated by riba'.

As a country which population is dominated by Muslims, Malaysia was also affected by the resurgence that had taken place in the Middle East. Many parties were calling for the establishment for an Islamic bank in Malaysia. For example, in 1980, the Bumiputera Economic Congress had proposed to the Malaysian Government to allow the setting up of an Islamic bank in the country.

Another effort was the setting up of the National Steering Committee in 1981 to undertake a study and make recommendations to the Government on all aspects of the setting up and operations of Islamic bank in Malaysia, including the legal, religious and operational aspects. The study concluded that the establishment of an Islamic bank in Malaysia would be a viable project from the operation and profits points of view. The conclusion marked the establishment of the first Islamic bank in Malaysia, Bank Islam Malaysia Berhad (BIMB) in July 1983, with an initial paid up capital of RM80 million. The establishment of BIMB also marked a new milestone for the development of the Islamic financial system in Malaysia. BIMB carries out banking business similar to other commercial banks, but along the principles of Syari'ah. The bank offers deposit-taking products such as current and savings deposit under the concept of Al-Wadiah Yad Dhamanah (guaranteed custody) and investment deposits under the concept of Al-Mudharabah (profit-sharing).

The bank grants financing facilities such as working capital financing under Al-Murabahah (cost-plus), house financing under Bai' Bithaman Ajil (deferred payment sale), leasing under Al-Ijarah (leasing) and project financing under Al-Musyarakah (profit and loss sharing). BIMB had grown tremendously since its inception. It was listed on the Main Board of the Kuala Lumpur Stock Exchange on 17 January 1992. BIMB's total assets rose from RM325.5 million in 1984 to RM10.12 billion in 2000. Presently, the bank's services can be obtained from its 82 branches throughout the country.

It has been the aspiration of the Government to create a vibrant and comprehensive Islamic banking and finance system operating side-by-side with the conventional system. A single Islamic bank does not fit the definition of a system. An Islamic banking and finance system requires a large number of dynamic and pro-active players, a wide range of products and innovative instruments, and a vibrant Islamic money market. The first step in realizing the vision was to disseminate Islamic banking on a nationwide basis with as many players as possible and within the shortest period possible. This was achieved through the introduction of Skim Perbankan Islam (SPI) in March 1993. SPI allows conventional banking institutions to offer Islamic banking products and services using their existing infrastructure, including staff and branches. The scheme was launched on 4 March 1993 on a pilot basis involving three banks. Following the successful implementation of the pilot-run, Bank Negara Malaysia allowed other commercial banks, finance companies and merchant banks to operate the scheme in July 1993 subject to the specific guidelines issued by the central bank. From only three banks in March 1993, the number of Islamic financial institutions have increased to 36, comprising 14 commercial banks (of which 4 are foreign banks), 10 finance companies, 5 merchant banks and 7 discount houses. On 1 October 1999, the second Islamic bank, Bank Muamalat Malaysia Berhad, was established.

Today, Malaysia has succeeded in implementing a dual banking system and has emerged as the first nation to have a full-fledged Islamic system operating side-by side with the conventional banking system. The aspiration to establish a comprehensive Islamic banking and finance system has created a spill-over effect to the non-bank Islamic financial intermediaries which started to offer Islamic financial products and services. Such institutions include the takaful companies, the savings institutions (i.e. Bank Simpanan Nasional & Bank Rakyat) and the developmental financial institutions (i.e. Bank Pembangunan dan Infrastruktur Malaysia and Bank Pertanian)

(Source: http://www.bnm.gov.my)

Official Site: http://www.muamalat.com.my/index.php
 
Takaful Insurance Malaysia

ISLAM & INSURANCE

As the essence of insurance could be seen in the system of mutual help in relation to the custom of blood money under the Arab tribal custom, Muslim jurists generally accepted that the concept of insurance does not contradict with the Shariah. In fact, the principle of compensation and group responsibility was accepted by Islam and the Holy Prophet. Muslim jurists acknowledged that the basis of shared responsibility in the system of `aqila', as practiced between Muslims of Mecca (muhajirin) and Medina (ansar) laid the foundation of mutual insurance.

As a complete religion, the teaching of Islam encompasses the essence of peace, economic well-being and development of the Muslim at the individual, family social, state and `ummah' levels.

To illustrate the importance of this relationship in a life of a Muslim, Islam calls for the protection of certain basic rights, viz.: -

* The right to protect the Religion.
* The right to protect the life.
* The right to protect dignity/honour.
* The right to protect the property.
* The right to protect the mind.

It is also a generally accepted view that Islamic insurance was first established in the early second century of the Islamic era. This was the time when Muslim Arabs started to expand their trade to India, Malay Archipelago and other countries in Asia. Due to long journeys/voyages, they often had to incur huge losses because of mishaps and misfortunes or robberies along the way. Based on the Islamic principle of mutual help and cooperation in good and virtuous acts, they got together and mutually agreed to contribute to a fund before they started their long journey. The fund was used to compensate anyone in the group who suffered losses through any mishap. In fact the Europeans copied this, which was later known as marine insurance.

In view of the above as well as the real need for insurance cover, Muslim jurists looked further into the Islamic system of insurance. Their conclusion was that insurance in Islam should be based on the principles of mutuality and cooperation. On the basis of these principles, Islamic system of insurance embodies the elements of shared responsibility, joint indemnity, common interest, solidarity, etc. According to the jurists this concept of insurance is acceptable in Islam because,

* the policyholders would cooperate among themselves for their common good;

* every policyholder would pay his subscription in order to assist those of them who need assistance;

* it falls under the donation contract which is intended to divide losses and spread liability according to the community pooling system;

* the element of uncertainty will be eliminated insofar as subscription and compensation are concerned;

* it does not aim at deriving advantage at the cost of other individuals.

The generally accepted view of the Muslim Jurists is that the operation of the conventional insurance as an exchange transaction under a buy and sell agreement does not in its present form conform to the rule and requirements of the Shariah as it embodies the following three elements :-

al-Gharar

There is the element of al-Gharar (unknown or uncertain factors in the operation of a contract) in both the life and general insurance policies. This arises due to the uncertainty of the subject matter of the contract or `ma'qud'alaih' of which one of the basic rules of contract in Islam is that the ma'qud'alaih must be clear. In such a contract the insured or the policyholder agrees to pay a certain sum of premium and in turn the insurance company guarantees to pay a certain sum of compensation (sum insured) in the event of a catastrophe or disaster. But the insured or the policyholder is not informed, for example, of how the amount of the compensation that the company will pay him is to be derived nor is he certain of the amount.

In addition, any form of contract which is lopsided in favour of one party at the expense and unjust loss to the other is also classified as Gharar. This is prevalent in both the life and general insurance policies. In the former, for example the loss of premium suffered by the policyholder if he would have to cancel his policy before the policy acquires the forfeiture status. Similarly the "double-standard" condition of charging customary short period in general insurance if the policyholder is responsible for the termination of the policy whilst a proportional refund of premium is applicable if the insurance company terminates the cover.


al-Maisir

There is the element of al-Maisir (or gambling) which arises as a consequence of the presence of al-Gharar, in particular in the case of life insurance. When a policyholder dies before the end of the period of his insurance policy after paying only part of the premium, for example, his dependents will receive a certain sum of money which the policyholder in the first place has not been informed and has no knowledge of how and from where it is to be derived.

al-Riba

There is the practice of al-Riba (or interest) and other related practices in the investment activities of the conventional insurance companies which contravene the rules of the Shariah.

Official Site: http://www.takaful-malaysia.com/V5/index.php
 
Pak-Qatar Takaful

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pic: www.khawarbilal.com

'Pak-Qatar' to provide Takaful to Meezan customers
Meezan Bank Ltd and Pak-Qatar Family Takaful Ltd have signed an agreement whereby all customers of Meezan Banks Housing Finance (Easy Home) will be provided with Shariah-Compliant Life Takaful Coverage. Irfan Siddiqui President and CEO Meezan Bank Ltd and P. Ahmed CEO Pak-Qatar Family Takaful Ltd. signed the Takaful (Islamic insurance) Agreement at a ceremony on Tuesday.
According to the agreement, all housing finance customers of Meezan Bank will be provided comprehensive Takaful that will cover not only life but also accidental and natural disability. Moreover, the premium for the first year will be paid by the bank which is to be adjusted later.

The insurance penetration in Pakistan is only 0.3 per cent of its total GDP, which means just 10 to 15pc families are opting out this facility, while in developing countries 60 to 70pc families go for this.


Find Solutions for Enterprises, SMBs & Service Providers at the INTERNET TELEPHONY Conference and EXPO West, September 1-3, 2009. Los Angeles, CA.
Find Solutions for Enterprises, SMBs & Service Providers at the INTERNET TELEPHONY Conference and EXPO West, September 1-3, 2009. Los Angeles, CA.
Find Solutions for Enterprises, SMBs & Service Providers at the INTERNET TELEPHONY Conference and EXPO West, September 1-3, 2009. Los Angeles, CA.
Find Solutions for Enterprises, SMBs & Service Providers at the INTERNET TELEPHONY Conference and EXPO West, September 1-3, 2009. Los Angeles, CA.
Find Solutions for Enterprises, SMBs & Service Providers at the INTERNET TELEPHONY Conference and EXPO West, September 1-3, 2009. Los Angeles, CA.
Find Solutions for Enterprises, SMBs & Service Providers at the INTERNET TELEPHONY Conference and EXPO West, September 1-3, 2009. Los Angeles, CA.

Speaking on the occasion, President and CEO Meezan Bank Ltd. Irfan Siddiqui said that Meezan Bank has always focused on coming up with Halal Riba-free products and innovative facilities for its customers and the Takaful arrangement with PQFTL is another step in the direction of making Islamic Banking the banking of first choice.

CEO Pak-Qatar Family Takaful Ltd said that they were delighted to sign the Takaful agreement with the countrys pioneering Islamic bank, which will pave the way for numerous benefits for its customers. He said that Pak-Qatar Family Takaful is always looking for ways to provide value added products to the people of Pakistan. By joining hands with Meezan Bank we would be able to reach out to many people who would otherwise not have had the benefit of a customer centric and Shariah-compliant risk mitigation tool, he added.

Ahmed said that Pak-Qatar Family Takaful has the financial strength and expertise to safeguard investments and meet the long-term investment needs of the people in Pakistan. He further said that they are rapidly expanding their distribution network in order to achieve their vision of providing financial protection to everyone through Takaful.

--tmcnet

alhudacibe.blogspot.com
 
Tabung Haji

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Tabung Haji or Lembaga Tabung Haji ( تابوڠ حاج ) is the Malaysian hajj pilgrims fund board. It was formerly known as Lembaga Urusan dan Tabung Haji (LUTH). The main headquarters is located at Jalan Tun Razak, Kuala Lumpur. Tabung Haji facilitates savings for the pilgrimage to Makkah through investment in Shariah-compliant vehicles.
 
Gold Dinar

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Gold Dinar of Kelantan

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Gold Content And Value Calculator

Denomntn Weight Lon Fix
1 Dinar 0.125254 Oz $110.13
2 Dinars 0.250508 Oz $220.26
8 Dinars 1.002032 Oz $881.04

* Fabrication costs are not included
* London Fix on Apr 07, 2009 @ 879.25

Dinar history

According to Islamic law, the Islamic dinar is a coin of 22k (91.7%) gold weighing 4.25 grams. The Islamic dirham coin is 2.975 grams of pure silver. Umar Ibn al-Khattab established the known standard relationship between them based on their weights: "7 dinars must be equivalent (in weight) to 10 dirhams."

“ The Revelation undertook to mention them and attached many judgements to them, for example zakat, marriage, and hudud, etc., therefore within the Revelation they have to have a reality and specific measure for assessment of zakat, etc. upon which its judgements may be based rather than on the non-shari'i other coins.

Know that there is consensus [ijma] since the beginning of Islam and the age of the Companions and the Followers that the dirham of the shari'ah is that of which ten weigh seven mithqals weight of the dinar of gold... The weight of a mithqal of gold is seventy-two grains of barley, so that the dirham which is seven-tenths of it is fifty and two-fifths grains. All these measurements are firmly established by consensus. ”

—Ibn Khaldun, Al-Muqaddimah

Modern history

As a consequence of the currency crisis in Asia, in the first part of 1997, then Prime Minister of Malaysia Mahathir bin Mohamad proposed introduction of Islamic gold dinar as currency for international trade in the Muslim world. It was intended to replace the United States dollar and, as a gold-based currency, provide a medium of exchange more stable than the dollar. Mahathir announced that Malaysia was to start using the dinar in mid-2003, but when in 2003 Abdullah Ahmad Badawi replaced him as Prime Minister of Malaysia, this idea was halted.

Gold dinar in Malaysia

On the 20 September 2006, Kelantan became the first state to launch gold dinar coins. It features the Kelantanese state crest, the date of production, as well as the weight and purity of the gold used on its face. The Dinar Emas Kelantan (DEK) is similar to the original dinar in weight and purity of gold used. The coins can be bought and sold at the Kelantan Corporation Berhad (Perbadanan Kelantan Berhad) and all eight Ar-Rahn Islamic pawnshops in the state.

Common uses of the gold dinar include:

1. Saving them, because they are wealth in themselves.
2. Paying zakat and dowry as established within Islamic Law.
3. Buying merchandise from outlets.
4. Holding accounts, and making and receiving payments as with any other medium of exchange.

source: http://en.wikipedia.org/wiki/Islamic_gold_dinar

Are we ready to get back our economy power??? We had felt being oppressed and till now still being oppressed. Why not we consider going back to our scripture teaching, if not wholly, why not step by step? We can't procrastinate anymore.
 
I noticed that many Malaysian Muslim-Owned business products are being sold worldwide... but why there are not so many non-Malaysian Muslim-owned business products are being sold here?
 
north_malaysian said:
I noticed that many Malaysian Muslim-Owned business products are being sold worldwide... but why there are not so many non-Malaysian Muslim-owned business products are being sold here?
Click to expand...

Oh yeah, I wonder about this too. I hope to see more of their products here and everywhere in our country. Now we still are waiting for various products imported from Muslim-owned company abroad. That must be colorful if we can see them arranged in the hypermarket and groceries shops in our country :D.
 
malayloveislam said:
Oh yeah, I wonder about this too. I hope to see more of their products here and everywhere in our country. Now we still are waiting for various products imported from Muslim-owned company abroad. That must be colorful if we can see them arranged in the hypermarket and groceries shops in our country :D.
Click to expand...

I wish that we could have a 100% Halal Hypermarket... with lots of Muslim products... from all over the world...
 
Muslim Choice

EMSEA Marketing Sdn. Bhd. is a native Muslim company which was established in 2008. It is an industry which producing Halal products with the brand MUSLIM CHOICE.

The mission of EMSEA Marketing Sdn. Bhd. is to market the products to fulfill the necessity of Halal products industry which is now a fast developing industry world wide.

Official site: http://www.halal-muslimproducts.com/
 
Yeah, I listen to IKIM.FM. It is a radio station promoting Islamic Understanding and known as Radio Institut Kefahaman Islam (Islamic Understanding Institute Radio).

Don't worry about the language, beside using Malay as the medium for almost all the time, they have Arabic section for News and an Egyptian DJ whose name is Mona Jasman and this DJ seems working hard promoting Arabic in our community X D

They also have English section. You can promote your products market here in this country. We would be glad to hear about your products.

Listen to online radio:

http://pusratu.com/radio_ikim.html
 
malayloveislam said:
Don't worry about the language, beside using Malay as the medium for almost all the time, they have Arabic section for News and an Egyptian DJ whose name is Mona Jasman and this DJ seems working hard promoting Arabic in our community X D
Click to expand...

Mona Jasman is an Egyptian? Dont think so... she speaks Malaysian too (but sounded Arabic'ish) i thought she's one of those Muwallad (Saudi-born Malays)
 
Halal lip balm

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Perfume Free, Alcohol Free
Lip balm with Shea Butter & Vitamin E


El-Hajj Moisturising Lip Balm is specially formulated free from fragrance and alcohol for daily usage and while performing the Hajj and Umrah. Enrich with Shea Butter and Vitamin E, it helps prevent and protect chapped, cracked and wind burned lips due to extreme hot and dry weather condition

http://el-hajjlipbalm.blogspot.com/
 
Hahahaha, nice having Muslimah participation. Seriously I don't know what is the necessity of people around. I just think of food 24/7. No doubt, ladies are good in shopping :D

Mona is mixed Egyptian, her father is a Malay, but her mother is an Egyptian. Well, she speak like Egyptians especially her "Jim" pronunciation during speaking standard Arabic is like "Dzjhim", so I just concluded her as Egyptian. She speaks Arabic so fast during the "Hayya Bil Arabiyya" session, luckily the Ustaz speaks slowly and he is the one who taught :statisfie.

Oh my mother is now busy selling Muslimah t-shirts too :D. Quite lots of people love them.
 
Free computer operating system for Muslim

Linux Sabily, is design specially for Muslim and its free at all. It is the most completed free operating system for Muslim.

For technical support, you can find at http://linuxsabily.blogspot.com
It will touch our heart and open our mind, if we know to appreciated.
 

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