1. What is the difference between Maybank Islamic Ikhwan Card and a conventional credit card?
  2. What is Maybank Islamic Ikhwan Card?
  3. Who can apply?
  4. Can I apply for the Maybank Islamic Ikhwan Card if I donít have an account with Maybank?
  5. What are the documents required for an application?
  6. If I already have a credit card from another bank, do I need to send all documents?
  7. If I already have a Maybank credit card, can I apply for the Islamic Ikhwan Card?
  8. What is the Maybank Islamic Ikhwan Card facility limit?
  9. I have fully utilised my conventional card limit, can I transfer my credit limit from Islamic to conventional card?
  10. Can I close my Maybank conventional credit card account and transfer the balance to my Maybank Islamic Ikhwan Card?
  11. What is the annual fee for the Maybank Islamic Ikhwan Card?
  12. If I have both American Express and Visa cards, will I I have to make 12 transactions per card to enjoy the annual fee waiver?
  13. I have 2 supplementary cards. Do I need to make 36 transactions to enjoy the annual fee waiver?
  14. What is the Profit Rate for the Maybank Islamic Ikhwan Card?
  15. What is the cash advance fee for Maybank Islamic Ikhwan Card?
  16. What about the minimum monthly payment?
  17. What are the late payment charges?
  18. What is the Profit calculation for Maybank Islamic Ikhwan Card?
  19. Is there anywhere I am NOT allowed to use my Maybank Islamic Ikhwan Card?
  20. Will I receive a monthly statement for my Maybank Islamic Ikhwan Card?
  21. Do I have to make separate payments for Maybank conventional and Islamic Ikhwan cards?
  22. What are the benefits I enjoy with Maybank Islamic Ikhwan Card?
  23. What are the special values or features of this card?
  24. Which Etiqa Takaful products offer 3X TreatsPoints with Maybank Islamic Ikwan Card?
  25. What are the documents required to enrol for these Takaful plans?
  26. Whom to contact if my card is lost or stolen?

1. What is the difference between Maybank Islamic Ikhwan Card and a conventional credit card?

The Maybank Islamic Ikwan card is formulated on Shariah principles:

  • In Islamic Banking, the profit rate is non-compounding as compared to a conventional credit card
  • The Ikhwan Card is based on Shariah principles, and so it cannot be used for transactions prohibited by Shariah such as gambling, liquor, etc.
  • It is governed by the concept of economic justice and card holders avoid interest or riba in their banking transactions.


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2. What is Maybank Islamic Ikhwan Card?

  • It is a card based on Islamic Law and the Shariah principle of Bay’ Al’ Inah (sale with immediate repurchase) which governs instalment payments over a fixed period.
  • It works like a credit card and is accepted worldwide. It can be used for everyday spending on anything from meals and petrol to paying for your holidays.


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3. Who can apply?
The minimum income requirement to apply for the Maybank Islamic Ikhwan card is RM30,000 per annum for a gold card and RM120,000 per annum for the platinum card.

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4. Can I apply for the Maybank Islamic Ikhwan Card if I donít have an account with Maybank?
Yes, you can. You don’t need to be a Maybank accountholder to apply for a card. Just print out and fill in the application form. Then enclose the required documents and mail or send it to the nearest Maybank branch.

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5. What are the documents required for an application?

Please submit the following documents together with your application form:

  • Copy of NRIC (both sides) or passport (including supplementary applicants)
  • Latest BE form with official tax receipt
  • Latest 2 months salary slips
  • Latest 3 months savings account activity / current account statements
  • If you are self-employed, please enclose copies of your business registration and latest 3 month’s bank statements
  • For Expatriates: A letter from your employer confirming the duration of employment contract in Malaysia and the applicant must be a Maybank accountholder. 
  • For Graduates: Copy of degree certificate/professional qualification and employment letter or 1 month’s salary slip


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6. If I already have a credit card from another bank, do I need to send all documents?

If you have been a principal credit / charge card member of a card issued in Malaysia and valid worldwide for at least 1 year, you only need to enclose:

  • Copy of NRIC (both sides) or passport (including supplementary applicants)
  • Supplementary applicant’s copy of credit / charge card (both sides)


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7. If I already have a Maybank credit card, can I apply for the Islamic Ikhwan Card?

  • Yes, you can. The approval for Maybank Islamic Ikhwan Card is subject to the new credit assessment.
  • You are required to fill in the Maybank Islamic Ikhwan Card application form and submit it with the relevant documents.


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8. What is the Maybank Islamic Ikhwan Card facility limit?
The facility limit will be based on your credit assessment.

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9. I have fully utilised my conventional card limit, can I transfer my credit limit from Islamic to conventional card?
The credit limit between the conventional card and Maybank Islamic Ikhwan Card is not transferable.

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10. Can I close my Maybank conventional credit card account and transfer the balance to my Maybank Islamic Ikhwan Card?

Yes, you can either pay the outstanding balance in full, or chose a Balance Transfer plan for the outstanding amount. If you choose to close your Maybank conventional card account and transfer the balance to Maybank Islamic Ikhwan Card, you are advised to read the Conversion FAQs for further details.



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11. What is the annual fee for the Maybank Islamic Ikhwan Card?

You enjoy free annual fees subject to 12 transactions per card, per year. Otherwise the fees and charges are:

Annual FeesAmerican ExpressVisaAmerican Express & Visa
Principal   
Gold130130195
Platinum550550825
Supplementary   
Gold6565130
Platinum150150300

Touch n' Go Zing

   
Subscription Fees101020
Automatic Reload FeeRM2 (Per Reload)RM2 (Per Reload)RM2 (Per Reload)


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12. If I have both American Express and Visa cards, will I I have to make 12 transactions per card to enjoy the annual fee waiver?

Yes. You must make a minimum of 12 transactions on your Amex card and another 12 on Visa (excluding cash withdrawal transactions) to enjoy free annual fees.  Please take note that this does not include cash withdrawal transactions.



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13. I have 2 supplementary cards. Do I need to make 36 transactions to enjoy the annual fee waiver?
You and your supplementary cardholders need only make a total of 12 transactions (combined all 3 cards) to be entitled to a fee waiver for all 3 cards.

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14. What is the Profit Rate for the Maybank Islamic Ikhwan Card?

The profit rate is the same as the other credit cards, i.e. 1.5% a month or 18% per annum.  Like any other credit card, the BNM Tier Rate Pricing applies to the Maybank Islamic Ikhwan Card (See table):

Conditions
Payment Months/ Total 12 months 
PROFIT RATE
 Per Month Per Annum
For prompt payment of 12/12 months1.25%15%
For prompt payment of 10/12 months1.42%17%
For prompt payment of less than 10/12 months1.50%18%

Profit charge will be imposed on the outstanding retail transaction balance that is not paid after the payment due date. The charge will be calculated from the day the transactions were posted until full payment.



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15. What is the cash advance fee for Maybank Islamic Ikhwan Card?
For Maybank Islamic Ikhwan Card, the cash advance fee is known as “cash withdrawal fee”. The fee for each cash advance transaction is 5% of the amount withdrawn or minimum RM10, whichever is higher.

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16. What about the minimum monthly payment?
The minimum monthly payment is 5% of the outstanding balance or RM25.

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17. What are the late payment charges?

For Maybank Islamic Ikhwan Card, the late payment charge is known as “late payment compensation fee”. The fee is 1% of the total outstanding balance as at your statement date or RM10, whichever is higher.



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18. What is the Profit calculation for Maybank Islamic Ikhwan Card?
It follows Shariah principles and calculation of the profit rate is non-compounding.

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19. Is there anywhere I am NOT allowed to use my Maybank Islamic Ikhwan Card?

  • The card can be used anywhere, at outlets that accept Visa and/or American Express cards.
  • Like other Islamic cards, your Maybank Islamic Ikhwan Card should not to be used for unlawful activities, including illegal online betting or gambling. The Bank is entitled to terminate your card immediately without any notice, if it is found to have been used for such purposes.


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20. Will I receive a monthly statement for my Maybank Islamic Ikhwan Card?
Yes. You will receive separate monthly statements for Maybank Islamic Ikhwan Card and your conventional credit cards.

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21. Do I have to make separate payments for Maybank conventional and Islamic Ikhwan cards?
Yes. However, for payments by cheque, you can use the same cheque. Just indicate the amount for each card on the back of the cheque.

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22. What are the benefits I enjoy with Maybank Islamic Ikhwan Card?

The value propositions for Maybank Islamic Ikhwan Card are:

  • Enjoy 1X TreatsPoints for Visa and 2X TreatsPoints for American Express
  • FREE annual fee subject to 12 transactions per year, per card type
  • Earn 3X TreatsPoints for selected Etiqa Takaful products from 1 September 2008 till  28 February 2009.
  • Touch ‘n Go Zing Card. Whenever the account balance drops to RM50, it will automatically upload RM100 to your card with RM2 reload fee.
  • FREE Auto Assist – for purchase or renewal of car insurance with Etiqa.
  • Automatic Travel Personal Accident (ATPA) Takaful

You also enjoy all benefits that conventional credit card members enjoy, such as

  • Insurance coverage.
  • Visa Wave
    Make purchases speedier at participating merchant outlets.
  • Auto Paybills
    Bills are automatically charged to the Maybank ISLAMIC Ikhwan Card upon enrolment.
  • Balance Transfer Plan
    Transfer outstanding balance from other credit cards to your Maybank Islamic Ikhwan Card and enjoy savings
    6 Months Plan0.5% per monthRM1,000
    9 Months Plan0.75 % per monthRM1,000
    12 Months Plan1.0   % per monthRM1,000
    24 Months Plan0.375% per monthRM2,000
    36 Months Plan0.413% per monthRM2,000
  • Maybankard Treats
    Special deals and great rewards from dining, shopping, golf to health treats all year round.
  • Treats On-Chip
    Earn e-Coupons to redeem treats and receive discounts and items at participating merchants.
  • TreatsPoints HotSpot
    Use your TreatsPoints to redeem gifts on-the-spot at over 300 Hotspot locations nationwide.
  • Maybankard Travel Treats & Enrich Frequent Flyer Programme
    Enjoy discounted rates on all business and leisure travel. Also earn TreatsPoints to redeem free air travel with Malaysia Airlines Enrich frequent flyer programme.
  • M2U Mobile Banking
    Cardmembers can securely access, view credit card balances or pay bills to over 500 corporations with Maybank Islamic Ikhwan Card while on the move, anytime and anywhere.


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23. What are the special values or features of this card?

The Maybank Islamic Ikhwan Card incorporates 5 Islamic values:

  • Charity (Sadaqah) - Donate through your Islamic Ikhwan card or by TreatsPoints to selected charitable organisations
  • Travel (Ziarah) - Tour programmes to Islamic historical places, Middle Eastern countries
  • Protection (Takaful) - Special Takaful insurance packages
  • Savings (Al-Tawfir) - Balance transfer and special EzyPay deals all year round 
  • Sharing (Musharakah) - Earn TreatsPoints with Ikhwan and enjoy privileges and redeem products for you, your friends and family


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24. Which Etiqa Takaful products offer 3X TreatsPoints with Maybank Islamic Ikwan Card?

You can enjoy 3X Points for:

  • Takaful Amal - it benefits you and your loved ones by offering you a protection plan that suits your budget, age and most of all, meets your needs and provides worry-free days to your nearest and dearest in case the unexpected occurs.
  • Takaful Alif - places your children’s future first by providing you the opportunity to plan and save for their higher education.
  • Takaful Privilege PA - offers you total peace of mind 24 hours a day, wherever you are without compromising your financial status, with a comprehensive personal accident plan that covers you and those you love.
  • Takaful Insan - helps you fulfil your responsibilities by providing your beneficiaries or you with a protection plan that offers a fixed and regular monthly income should the unexpected occur.
  • Takaful MediRider - not only assures you immediate medical care during an emergency but better treatment choices and greater peace of mind. You only pay a minimal contribution for coverage up to age 75, one of the longest periods available. Applicable with any of the above products except Takaful Amal and Takaful Insan.

*The above products must be charged to your Maybank Islamic Ikhwan Card to be entitled to 3X TreatsPoints



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25. What are the documents required to enrol for these Takaful plans?
You are required to fill in and submit an application form only.

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26. Whom to contact if my card is lost or stolen?

If your card is lost or stolen, please call 03-2072 1373 or our toll-free number
1800-88-3231 to report immediately. (Available 24 hours a day, 7 days a week.)

If your card is lost or stolen while abroad, contact us or report to Visa or MasterCard
Assistance Centres or their affiliates. For the American Express Card, please notify the
American Express Travel Service Office.

 



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