Bank Muamalat Malaysia Berhad (BMMB) Personal Loan-i

Discover the best Shariah-compliant personal loan solutions with Bank Muamalat Malaysia Berhad. Enjoy an easy, ethical way to meet your financial needs without involving interest. Join us today and access the funds you need with ease and fairness.

Bank Muamalat Malaysia Berhad (BMMB): Summary

Bank Name: Bank Muamalat
Abbreviation / Code Name: BMMB
Category: #ConsumerLoan #koperasi #personalloan #Bank #BankMuamalat
Bank Promotion Name: General info

Bank Muamalat Malaysia Berhad (BMMB): Upholding Integrity and Transparency

Anti-Bribery & Corruption Statement

Bank Muamalat Malaysia Berhad (“BMMB”) and its subsidiaries are committed to conducting business with transparency, integrity, and compliance with regulatory requirements, as well as adhering to good corporate governance practices. Upholding these values is integral to our operations and reputation.

Commitment to Integrity and Transparency

At BMMB, we prioritize integrity and transparency in all aspects of our business operations. We believe in conducting ourselves ethically and responsibly to maintain the trust and confidence of our stakeholders, including customers, shareholders, employees, and the public.

Zero Tolerance towards Bribery and Corruption

BMMB adopts a ‘zero tolerance’ stance against all forms of bribery and corruption. We firmly believe that such unethical practices have no place in our organization and can undermine the trust and stability of the financial system. Therefore, we are dedicated to preventing, detecting, and addressing any instances of bribery or corruption within our sphere of influence.

Individual Accountability and Responsibility

Every member of the Board of Directors, employees, and third parties associated with BMMB are held to the highest standards of integrity and accountability. We expect our personnel to act with honesty, fairness, and professionalism in their dealings and to report any suspected instances of bribery or corruption promptly.

BMMB’s Anti-Bribery and Corruption Policy

Bribery Prohibition

We unequivocally prohibit all forms of bribery and corruption in relation to BMMB’s activities. This includes offering, promising, giving, requesting, receiving, or accepting any bribes, kickbacks, or improper inducements.

No Gift Policy

To prevent conflicts of interest and undue influence, BMMB has implemented a “No Gift” policy. Under this policy, employees and representatives are prohibited from offering or accepting gifts, favors, or hospitality that could compromise their judgment or decision-making process.

Entertainment Guidelines

While we recognize the importance of building and maintaining relationships with stakeholders, all entertainment provided or received by BMMB employees must be reasonable, transparent, and compliant with applicable laws and regulations. Entertainment should be limited to legitimate business purposes and not used as a means to improperly influence business decisions.

Donations and Sponsorships

BMMB is committed to making meaningful contributions to the community through donations and sponsorships. However, we ensure that such contributions are transparent, properly documented, and not used as a guise for bribery or corrupt practices.

By upholding these principles and policies, BMMB aims to foster a culture of integrity, trust, and accountability within our organization and contribute to a fair and ethical business environment in Malaysia.

Advancing Social Impact: Muamalat's Financial Initiatives

Muamalat Invest: Driving Islamic Investment Excellence

Muamalat Invest Sdn Bhd (“MISB”) is a trusted subsidiary of Bank Muamalat Malaysia Berhad. As a licensed Islamic fund manager since 2006, we prioritize ethical and Shariah-compliant investment solutions tailored to meet your financial goals.

Empowering Economic Prosperity through Wakaf Muamalat

Wakaf Muamalat has been instrumental in promoting economic prosperity through various collaborations and synergies since 2012. With over RM 26.7 million collected to date, Wakaf Muamalat ensures that the needy and underprivileged are supported and cared for. Explore the endless opportunities of wakaf with us today!

Jariah Fund: Empowering the Underprivileged

Jariah Fund serves as an online crowdfunding platform dedicated to assisting the underprivileged and contributing to societal welfare. With transparent features, including real-time updates on funds collected and beneficiary status, Jariah Fund makes it easier than ever to make a difference in the lives of those in need.

Bank Muamalat Personal Financing Solutions: Structured Personal Financing-i and Pembiayaan Peribadi Pesara (3P)

Bank Muamalat offers a range of flexible and convenient personal financing solutions tailored to meet the diverse needs of its customers. With competitive rates and transparent terms, customers can easily access the funds they need to achieve their financial goals.

Structured Personal Financing-i

One of the primary financing options available is the Structured Personal Financing-i, designed to provide individuals with financial flexibility and peace of mind. With a minimum financing period of 2 years and a maximum of 10 years, customers can choose a repayment tenure that suits their budget and requirements. Additionally, customers can access financing of up to RM250,000*, making it ideal for various purposes such as home renovations, education expenses, or emergency funds.

Pembiayaan Peribadi Pesara (3P)

For customers who are retired or nearing retirement, the Pembiayaan Peribadi Pesara (3P) offers a dedicated financing solution tailored to their needs. With a competitive profit rate of 5.50% per annum and flexible repayment tenures ranging from 3 to 10 years, retirees can access financing amounts ranging from RM5,000.00 to RM250,000.00 to support their post-retirement lifestyle.

Customers also have the option to enhance their financial security by opting for additional services such as will-writing and takaful coverage, providing added peace of mind for themselves and their loved ones.

In summary, Bank Muamalat’s personal financing solutions offer flexibility, affordability, and accessibility, making them an ideal choice for individuals looking to fulfill their financial needs and aspirations.

Bank Muamalat Personal Financing-i Programme: Flexible Financing Solutions

Bank Muamalat’s Personal Financing-i programme offers individuals a convenient and flexible way to access financing for their various needs. With a minimum financing period of 2 years and a maximum of 10 years, customers have the flexibility to choose a repayment tenure that suits their financial situation. The programme allows financing of up to RM250,000*, making it suitable for a wide range of purposes, such as home renovations, education expenses, or emergency funds.

Accessibility for All Ages

One of the key advantages of Bank Muamalat’s Personal Financing-i programme is its accessibility. Individuals up to 70 years old* can apply for financing, providing opportunities for retirees and seniors to access much-needed funds for their financial needs. Moreover, the programme does not require a guarantor, streamlining the application process and reducing administrative hassle for customers.

Transparent and Affordable Financing

Customers can also benefit from the transparency and affordability of the programme, as there are no processing fees or hidden charges involved. This ensures that customers can borrow with confidence, knowing that they will not encounter any unexpected costs throughout the financing tenure.

Cash-i Muamalat: Tailored for Government Employees

Additionally, Bank Muamalat offers the Cash-i Muamalat programme specifically tailored for government employees, government-linked companies (GLCs), government-linked investment companies (GLICs), and employers under the empanelment programme. With a competitive profit rate of $485 per annum, eligible individuals aged 18 and above can access financing up to 60 years old or up to retirement age (whichever is earlier). Malaysian citizenship is required, and specific eligibility criteria apply based on employment status and income level.

In summary, Bank Muamalat’s Personal Financing-i programme provides individuals with a convenient, transparent, and affordable financing solution to meet their financial needs. Whether it’s for debt consolidation, home improvements, or other expenses, customers can rely on Bank Muamalat to provide flexible and reliable financing options.

(*Subject to terms and conditions)

Repayment Schedule for Bank Muamalat Pesara Personal Financing-i

This repayment schedule outlines the payment plan for Bank Muamalat Pesara Personal Financing-i, providing clarity and transparency for borrowers. Understanding the repayment schedule is crucial for managing finances effectively and ensuring timely payments.

Bank Muamalat’s Personal Loan Repayment Schedule for Military Veterans & Government Employees features a fixed profit rate of 5.50%. This schedule outlines payment details, facilitating responsible financial planning and management.

The loan amount (RM)	1 Year	2 Years	3 Years	4 Years	5 Years	6 Years	7 Years	8 Years	9 Years	10 Years
10,000	879	463	324	254	213	185	165	150	138	129
20,000	1,758	925	647	508	425	369	330	300	277	258
30,000	2,638	1,388	971	763	638	554	495	450	415	388
40,000	3,517	1,850	1,294	1,017	850	739	660	600	554	517
50,000	4,396	2,313	1,618	1,271	1,063	924	824	750	692	646
60,000	5,275	2,775	1,942	1,525	1,275	1,108	989	900	831	775
70,000	6,154	3,238	2,265	1,779	1,488	1,293	1,154	1,050	969	904
80,000	7,033	3,700	2,589	2,033	1,700	1,478	1,319	1,200	1,107	1,033
90,000	7,913	4,163	2,913	2,288	1,913	1,663	1,484	1,350	1,246	1,163
100,000	8,792	4,625	3,236	2,542	2,125	1,847	1,649	1,500	1,384	1,292
110,000	9,671	5,088	3,560	2,796	2,338	2,032	1,814	1,650	1,523	1,421
120,000	10,550	5,550	3,883	3,050	2,550	2,217	1,979	1,800	1,661	1,550
130,000	11,429	6,013	4,207	3,304	2,763	2,401	2,143	1,950	1,800	1,679
140,000	12,308	6,475	4,531	3,558	2,975	2,586	2,308	2,210	1,938	1,808
150,000	13,188	6,938	4,854	3,813	3,188	2,771	2,473	2,250	2,076	1,938
160,000	14,067	7,400	5,178	4,067	3,400	2,956	2,638	2,400	2,215	2,067
170,000	14,946	7,863	5,501	4,321	3,613	3,140	2,803	2,550	2,353	2,196
180,000	15,825	8,325	5,825	4,575	3,825	3,325	2,968	2,700	2,492	2,325
190,000	16,704	8,788	6,149	4,829	4,038	3,510	3,133	2,850	2,630	2,454
200,000	17,583	9,250	6,472	5,083	4,250	3,694	3,298	3,000	2,769	2,583
210,000	18,463	9,713	6,796	5,338	4,463	3,879	3,463	3,150	2,907	2,713
220,000	19,342	10,175	7,119	5,592	4,675	4,064	3,627	3,300	3,045	2,842
230,000	20,221	10,638	7,443	5,846	4,888	4,249	3,792	3,450	3,184	2,971
240,000	21,100	11,100	7,767	6,100	5,100	4,433	3,957	3,600	3,322	3,100
250,000	21,979	11,563	8,090	6,354	5,313	4,618	4,122	3,750	3,461	3,229

* Any changes to the financing repayment are subject to terms and conditions.

Understanding Bank Muamalat Takaful and Shariah Concepts

Bank Muamalat’s Personal Financing-i (Tawarruq) is a Shariah-compliant financing facility designed to provide cash financing for personal use without violating Shariah principles. This article explores the underlying Shariah concepts and structures employed in this financing product.

Tawarruq: The Core Concept

Tawarruq serves as the fundamental Shariah concept underlying Bank Muamalat’s Personal Financing-i. It involves two sale and purchase contracts: the first sale of an asset on a deferred basis followed by the sale of the same asset to a third party on a cash basis. This arrangement ensures compliance with Islamic principles while facilitating cash financing for customers.

Murabahah: Transparency in Transactions

Murabahah is a key component of the financing structure, representing a sale and purchase transaction where the acquisition cost and markup are disclosed to the purchaser. This transparency ensures that customers are fully informed about the terms and conditions of their financing, aligning with Islamic ethical principles.

Wakalah: Delegated Authority

Wakalah plays a vital role in Bank Muamalat’s financing framework, representing a contract where one party authorizes another as their agent to perform specific tasks. This delegated authority ensures efficient and effective management of customer transactions within the boundaries of Shariah law.

Wa’d: Commitment for the Future

Wa’d involves a commitment given by one party to another to perform certain actions in the future. In the context of Bank Muamalat’s financing, Wa’d provides assurance to customers regarding future transactions, enhancing trust and confidence in the Shariah-compliant nature of the product.

Bai’ Wadhi’ah: Ethical Pricing

Bai’ Wadhi’ah represents a sale contract where the asset or commodity is sold at a price lower than the cost incurred by the customer. This ethical pricing mechanism ensures fairness and equity in transactions, reflecting the Islamic principles of justice and compassion.

In summary, Bank Muamalat’s Personal Financing-i (Tawarruq) adheres to Shariah principles through the careful application of Tawarruq, Murabahah, Wakalah, Wa’d, and Bai’ Wadhi’ah contracts. By incorporating these concepts, Bank Muamalat ensures transparency, fairness, and ethical conduct in its financing activities, providing customers with Shariah-compliant solutions for their financial needs.

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*Source: bankmuamalat.com.my

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