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LeadershipinIslamicFinance
The Group’s Islamic First policy and growth targets for Islamic business are
spearheaded byMaybank Group Islamic Banking (MGIB), the Islamic banking arm
of theMaybank Group.
MGIB focuses on managing and setting strategies for the overall Group Islamic banking business, and is strongly supported by the House of Maybank. MGIB’s focus is
grounded in communities and in enabling new business models to meet the needs of both long-term relationships with clients and a direct understanding of their economic
activities and the risks involved. We believe that consumer trust and confidence in financial institutions globally can be reinforced through sustainable banks that act as
stewards of successful, equitable capitalism. At Maybank, Islamic finance provides the moral compass in ensuring that the offering of our products and services are anchored
in the real economy. Through our vast suite of Shariah-compliant products, we are able to provide funding and financing solutions that consider Environmental, Social and
Governance (ESG) risks.
In accordance with Bank Negara Malaysia’s regulatory requirements, MGIB has also put in place a comprehensive Shariah Governance Framework to ensure effective and
efficient oversight by the Board of Directors, Shariah Committee, Management and Business units, on Islamic business activities and operations carried out by its business
pillars. We take compliance with Shariah principles in our business seriously and have embarked on institutionalising Shariah compliance, through Group Credit and Risk
Management, with the following key focus:
• Strengthening the Shariah governance structure
• Enhancing framework and policies
• Enhancing Shariah non-compliance reporting to integrate with existing operational risk infrastructure
• Implementing Shariah compliance awareness programmes
MGIB’s Shariah Centre of Excellence (SCoE) was reinforced in 2013 with the aim of being the established industry leader in Islamic banking and finance and in solidifying
sound risk management practices. The continuous execution of initiatives by MGIB under the SCoE has made us the industry’s reference point on Islamic banking and
finance matters. These initiatives include, amongst others, the launch of Shariah scholarships for undergraduates and postgraduates, strategic collaborations with prominent
and leading global educational and research institutions, development of thought leadership in Islamic finance publications and through participation in world-class forums,
as well as market engagement via interactive Shariah risk management series.
In 2013, Maybank Islamic undertook efforts to fund and sponsor various academic initiatives with the objective to grow and develop a strong talent pool for the Islamic
finance industry. Maybank Islamic is the first financial institution in Malaysia to offer Islamic education scholarships to young achievers nationwide. We sponsored a total
of RM1.5 million to International Centre for Education in Islamic Finance (INCEIF) and International Shariah Research Academy for Islamic Finance (ISRA). Our sponsorship
programme for the year also included the Maybank Islamic Shariah Apprentice Programme with ISRA. We aim to award Maybank Scholarships to 50 students seeking to
pursue the Chartered Islamic Finance Professional (CIFP) qualification.
productstewardship
OURPRODUCTSANDSERVICES
En. Muhd Ramadhan Fitri Ellias speaking as a panelist during the World Islamic Banking Conference 2013 in Singapore (second from right)
G4-15, G4-16, G4-EC7, G4-EC8
