In compliance with Bank Negara Malaysia (“BNM”) requirement on E-Money as Shariah Compliant Payment Instrument, it was decided that the existing underlying Shariah contract of MAE account will be reclassified from Qard (loan) to Wakalah (agency) with effect from 8 October 2020 (“Effective Date”).

“Wakalah” means an agency contract whereby you appoint Maybank Islamic Berhad to act as your payment agent for transactions using MAE.

For Islamic MAE account(s) registered prior to the Effective Date, you hereby irrevocably appoint Maybank Islamic Berhad as your payment agent for transactions using MAE. " If we do not hear from you by 31 December 2020, we deemed that you have given your consent on this reclassification of Shariah Contract to Wakalah"

Please note that this reclassification exercise will be carried out at no costs to you. Your account number(s) will remain unchanged and you may continue to operate the account(s) together with all existing services as usual.

Please refer to the latest Shariah-compliant MAE Terms & Conditions available at Maybank2u website.