When it comes to Islamic banking, Maybank rises to the forefront among the most trusted names. The Malaysian banking icon brings its expertise to Indonesia through Maybank Syariah - and is set to optimise its services to cater to the world's largest Muslim population.
"We are expanding our business in Indonesia, both conventionally and Islamically," says Maybank Syariah president and director Ibrahim Hassan. "Synergising with Maybank Group, Maybank Islamic and Maybank Kim Eng, we facilitate cross-border transactions and serve as a sharia financial intermediary between Asia-Pacific and Indonesia."
Maybank Group has total assets exceeding US$100 billion and an international network spanning 14 countries. Maybank Islamic is among the world's top 20 Islamic financial institutions and Asia-Pacific's largest, while Maybank Kim Eng brings more than 39 years of expertise in securities and investment banking in Asia. Maybank Syariah combines these strengths and positions itself as the preferred sharia financial service provider in the region.
Established as a fully-fledged sharia bank in 2010 with 15 years of experience in Indonesia, Maybank Syariah provides corporate, investment banking and treasury services to local and multinational corporations. It takes pride in helping the Indonesian economy by supporting key industries such as plantation, oil and gas, mining, manufacturing, property and infrastructure.
"Maybank Syariah's Islamic banking platform provides corporate clients a competitive range of financing and investment products to meet their funding and investment requirements," Hassan says.
The bank will launch a profit-sharing investment account, which unlike conventional time deposits will give clients the advantage of fixing the dividend upfront or on a monthly basis. It is also developing various other financing products to provide customers a complete suite of sharia innovative and optimal solutions.
"Islamic banking is transparent, supports ethical economic activities and stands for our customers' values," Hassan says. "We envision Maybank Syariah gaining a bigger market share and rising among the top five banks in the Indonesian sharia banking industry by 2015."