Bank Muamalat Malaysia Berhad (BMMB)
Looking for flexible and Sharia-compliant personal loan solutions? Look no further than Bank Muamalat Malaysia Berhad. Our offerings are tailored to suit your financial needs, empowering you to achieve your goals with competitive rates and a hassle-free application process. Whether you’re planning for a major purchase or need assistance with unexpected expenses, Bank Muamalat is here to support you on your financial journey. Discover the convenience and peace of mind that comes with our personalized loan options today.
Introduction
Established in 1999, Bank Muamalat Malaysia Berhad (BMMB) holds the distinction of being one of Malaysia’s foremost Islamic banks. It earned this reputation by offering an extensive array of Sharia-compliant financial products and services. Notably, BMMB made history as the first Islamic bank to receive a full banking license under the Islamic Banking Act 1983, laying the groundwork for the development of Islamic finance in Malaysia.
Operating on Sharia Principles
At its core, Bank Muamalat operates in accordance with the principles of Sharia, ensuring that all its operations and offerings align with Islamic law. This commitment involves steering clear of interest (riba), engaging in ethical investments, and promoting risk-sharing between the bank and its customers.
Tailored Financial Solutions
Bank Muamalat caters to the diverse needs of its clientele by providing a wide range of financial solutions. These include personal financing options, savings and current accounts, investment products, and wealth management services. Its personal financing products are structured to assist individuals in various financial endeavors, such as home renovations, education expenses, vehicle purchases, and debt consolidation, all while adhering to Islamic financing principles.
Nationwide Accessibility and Customer Service Excellence
With a comprehensive network of branches and electronic banking channels, Bank Muamalat ensures convenient access to its services across Malaysia. This commitment to accessibility underscores its dedication to serving customers from different regions. Moreover, the bank prioritizes excellent customer service, delivering efficient and reliable banking solutions to enhance the financial well-being of its clientele.
Contributing to Industry Advancement
Bank Muamalat’s influence transcends traditional banking services. Actively involved in industry initiatives, the bank plays a pivotal role in advancing Islamic finance in Malaysia and beyond. It actively promotes financial literacy, collaborates with stakeholders, and contributes to the growth and sustainability of Islamic banking.
Personal Financing-i
For Armed Forces
At Bank Muamalat Malaysia Berhad (BMMB), we offer enticing deals for personal loans tailored to suit your needs. Benefit from competitive rates, flexible terms, and a hassle-free application process. Empower your financial journey with us today.
Bank Muamalat Personal Financing-i For Armed Forces:
| Products / Items | Investment and Refinancing (Armed Forces) |
| Purpose | Settlement of Debt and Investment |
| Who Can Apply | Malaysia Armed Forces |
| Tenure | Minimum: 3 years, Maximum: 10 years* |
| Financing Amount | Minimum: RM 5,000.00 Maximum: RM 100,000.00 |
| Profit Rate | Flat: 5.5% p.a Floating: BFR+1.8% (capping rate 11%) |
| Mode of Payment | Auto Debit net salary via BMMB Current/Saving Account |
| Wasiat/Will – writing | Optional |
| Takaful | Compulsory |
| Guarantor | Not available |
| Documents Required | Copy of BATC10/MyTentera (front and back) Latest 1 month Salary Slip (Flat Rate) Latest 2 months Original Salary Slip (Floating Rate) BMMB Current/Saving Account passbook Latest Settlement Statement Investment Statement (if applicable) |
| Applicant’s Eligibility | a) Age: Lain‐lain Pangkat (LLP): –Maximum: 52 years• Pegawai: – Maximum: 65 years |
Government & Related Agencies Staff
Financing products:
| Products / Items | Financial Management Financing – PPK Invesment and Refinancing |
| Civilian | |
| Purpose | Settlement of Debt and Investment |
| Who Can Apply | All Federal / State Government/Government. Link Company/Selected Organizations staff |
| Tenure | Minimum: 3 years. Maximum: 10 years |
| Financing Amount | Minimum: RM 5,000.00. Maximum: RM 100,000.00 |
| Profit Rate | Flat: Without Ju’alah: 5.5% p.a, With Ju’alah: 5.7% p.a. Floating: BFR+1.8% (capping rate 11%) |
| Mode of Payment | a) Auto Debit net salary via BMMB Current/Saving Account or. b) Salary deduction At Source by employer |
| Wasiat/Will – writing | Optional |
| Takaful | Compulsory |
| Guarantor | Not available |
| Documents Required | Copy of NRIC (front and back) Latest 1 month Salary Slip (Flat Rate) Latest 3 months original Salary Slip (Floating Rate) Employment Confirmation Letter Latest Settlement Statement Investment Statement (if applicable) |
| Applicant’s Eligibility | Employment: – Non-Gov’t: PERMANENT & CONFIRMED staff with minimum 3 years’ service. – Gov’t: CONFIRMED staff Repayment Capacity: i) Determine by NDI & DSR |
Note:
- Customer’s not a Bankruptcy during apply Bank Muamalat Malaysia Berhad BMMB financing
- Terms and conditions apply
Selected Organizations Staff
| Products / Items | Investment and Refinancing (Civilian – Selected Organization) |
| Purpose | Setlement of Debt and Investment |
| Who Can Apply | Selected organizations staff |
| Tenure | Minimum: 3 years. Maximum: 10 years |
| Financing Amount | Minimum: RM 5,000.00. Maximum: RM 150,000.00 (Floating Rate), RM 100,000.00 (Flat Rate) |
| Profit Rate | Flat: Without Ju’alah: 5.5% p.a, With Ju’alah: 5.7% p.a. Floating: BFR+1.8% (capping rate 11%) |
| Mode of Payment | a) Auto Debit net salary via BMMB Current/Saving Account or b) Salary deduction At Source by employer |
| Wasiat/Will – Writing | Compulsory |
| Takaful | Compulsory |
| Guarantor | Not available |
| Documents Required | Copy of NRIC (front and back) Latest 1 month Salary Slip (Flat Rate) Latest 3 months original Salary Slip (Floating Rate) Employment Confirmation Letter Settlement Statement Investment Statement (if applicable) |
Note:
- Customer’s not a Bankruptcy during apply Bank Muamalat Malaysia Berhad BMMB financing
- Terms and conditions apply
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.
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.
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.
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.
Cash-i Muamalat
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.
(*Subject to terms and conditions)
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.
Advantages
Bank Muamalat 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 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.
Repayment Schedule
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.
| 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 |
* Any changes to the financing repayment are subject to terms and conditions.
Takaful and Shariah Concepts
Bank Muamalat 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
Tawarruq serves as the fundamental Shariah concept underlying Bank Muamalat. 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
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
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
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
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.
Contact Us
Bank Muamalat Malaysia Berhad
Ibu Pejabat, Menara Bumiputra, 21 Jalan Melaka,
50100 Kuala Lumpur
Call Center +603-2600 5500 
Frequently Asked Questions (FAQ)
Adakah Bank Muamalat sebuah perbankan patuh shariah?
Ya, Bank Muamalat adalah sebuah institusi perbankan patuh Shariah. Ia mengamalkan prinsip-prinsip perbankan Islam dalam semua operasinya, termasuk dalam produk dan perkhidmatannya. Ini bermakna semua urus niaga, pelaburan, dan pembiayaan yang ditawarkan oleh Bank Muamalat dipatuhi dengan syariah Islam, seperti larangan terhadap riba (faedah), spekulasi, dan unsur-unsur yang tidak berasaskan syariah lainnya.
Bagaimanakah proses akad jual beli dalam pembiayaan peribadi dilakukan oleh bank?
Dalam pembiayaan peribadi yang patuh Shariah, proses akad jual beli yang digunakan adalah akad Murabahah atau Bai’ Al-Inah, tergantung pada struktur pembiayaan yang diberikan oleh bank.
- Akad Murabahah: Dalam akad ini, bank membeli barang yang dikehendaki oleh pelanggan, seperti barang kewangan atau komoditi, dengan harga tunai. Kemudian, bank menjual kembali barang tersebut kepada pelanggan dengan harga yang telah ditetapkan bersama, tetapi dengan bayaran balik secara ansuran yang telah dipersetujui sebelumnya. Oleh itu, bank memperoleh keuntungan dari perbezaan harga antara harga pembelian dan harga jual.
- Bai’ Al-Inah: Dalam akad ini, pelanggan menjual barang yang dimiliki kepada bank pada harga tunai. Kemudian, bank menjual semula barang tersebut kepada pelanggan dengan harga yang lebih tinggi, tetapi dengan pembayaran balik secara ansuran. Walau bagaimanapun, terdapat kritikan mengenai Bai’ Al-Inah, di mana ada pandangan bahawa ia boleh dianggap sebagai bentuk pembiayaan ribawi yang bertentangan dengan prinsip perbankan Islam.
Dalam kedua-dua situasi, proses akad jual beli ini dijalankan dengan mematuhi prinsip-prinsip syariah Islam, termasuk prinsip kejelasan, kepilahan, dan keadilan dalam transaksi kewangan. Oleh itu, ia memastikan bahawa pembiayaan peribadi yang disediakan oleh bank adalah patuh Shariah dan mematuhi ajaran Islam.
Mengapakah pinjaman peribadi patuh shariah lebih menguntungkan berbanding perbankan konvensional?
Pinjaman peribadi patuh Shariah menawarkan beberapa kelebihan berbanding perbankan konvensional yang menggunakan model riba (faedah atau interest). Beberapa keuntungan utama adalah seperti berikut:
- Patuh Syariah: Pinjaman peribadi patuh Shariah beroperasi mengikut prinsip-prinsip syariah Islam yang mengharamkan riba. Ini bermakna tidak ada faedah atau caj tambahan yang dikenakan kepada pelanggan. Sebaliknya, bank mendapat keuntungan melalui mekanisme jual beli aset atau perkhidmatan, seperti akad Murabahah atau Musyarakah Mutanaqisah, yang lebih selaras dengan prinsip-prinsip kewangan Islam.
- Keadilan dan Kepentingan Bersama: Transaksi dalam pinjaman peribadi patuh Shariah mendorong keadilan dan kesetaraan di antara pihak-pihak yang terlibat. Bank dan pelanggan berkongsi risiko dan keuntungan secara adil, yang memupuk hubungan yang lebih baik dan saling menghormati antara kedua-dua pihak.
- Kejelasan dan Ketelusan: Produk dan perkhidmatan perbankan Islam dikenali dengan kejelasan dan ketelusan yang tinggi dalam urus niaga mereka. Terdapat penekanan yang tinggi pada pengungkapan butiran kontrak dan peraturan, membolehkan pelanggan membuat keputusan yang lebih berinformasi.
- Kemajuan Sosial: Pinjaman peribadi patuh Shariah sering kali dikaitkan dengan program-program kebajikan dan sumbangan kepada masyarakat. Ini membolehkan pelanggan merasa bahawa mereka menyokong institusi yang mempunyai komitmen kepada nilai-nilai sosial dan kemanusiaan.
- Fokus pada Asas Ekonomi: Perbankan Islam menekankan aktiviti-aktiviti ekonomi yang berdasarkan pada asas yang lebih kukuh dan berkelanjutan. Ini termasuk mempromosikan pelaburan produktif, pembiayaan projek-projek pembangunan, dan meminimumkan spekulasi dan aktiviti yang bercanggah dengan prinsip-prinsip Islam.
Dengan kelebihan-kelebihan ini, pinjaman peribadi patuh Shariah menawarkan pendekatan yang lebih etis dan bertanggungjawab terhadap pembiayaan peribadi, yang sering kali dianggap lebih menguntungkan dan sesuai dengan nilai-nilai masyarakat Islam.
Is Bank Muamalat owned by government?
No, Bank Muamalat Malaysia Berhad (BMMB) is not owned by the government. It is Malaysia’s first Islamic bank, established in 1999, and it operates as a commercial bank under Shariah principles. While it has no direct ownership by the government, it operates within the regulatory framework set by Bank Negara Malaysia, the country’s central bank.
Why do most armed forces in Malaysia choose to apply for personal financing with Bank Muamalat?
Most armed forces in Malaysia apply for personal financing with Bank Muamalat due to several reasons. Firstly, Bank Muamalat offers specific financing products tailored to the needs of armed forces personnel, such as special rates and packages designed for them. Secondly, there may be partnerships or agreements between Bank Muamalat and the armed forces, providing convenient access to financing options for military personnel.
Additionally, Bank Muamalat may have a strong reputation for reliability and trustworthiness among armed forces members, leading them to prefer this bank for their financial needs. Finally, factors like convenient application processes, flexible repayment terms, and responsive customer service may also contribute to the popularity of Bank Muamalat among armed forces personnel seeking personal financing.
