Dear Valued Customers,

Pursuant to the enforcement of the Islamic Financial Services Act 2013 (“IFSA”), all Islamic Financial Institutions are required to reclassify its existing Islamic products and services in accordance with the transition requirements prescribed by Bank Negara Malaysia (“BNM”). Under IFSA, our existing Wadi’ah-based (safe keeping with guarantee) products will be reclassified to Qard-based (loan) with effect from 7 October 2017 (“Effective Date”).

Qard refers to a contract of lending where customer will lend money to the Bank as a loan where repayment of equivalent replacement amount is guaranteed by the Bank and the Bank has the right to utilise the money for its banking activities.

The applicable products are as follows :

Please note that this 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 facilities and services as usual.

Your account(s) will continue to be protected by the Perbadanan Insurans Deposit Malaysia (PIDM).

Should you wish to explore other alternatives, kindly visit our branches before the Effective Date for assistance. For more details, please logon to for our Frequently Asked Questions (“FAQ”) on this exercise.

Notice for Reclassification of Wadi’ah-based to Qard-based

Frequently Asked Question

Terms & Conditions Governing Deposit Accounts for Islamic Banking

We acknowledge your continuous support in banking with us.

 Thank you.