Islamic Banking in Malaysia
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Questions and Answers

What was the first Islamic bank established in Malaysia?

  • Pejabat Urusan Haji
  • Lembaga Tabung Haji (correct)
  • Perbadanan Wang Simpanan Bakal-Bakal Haji
  • Bank Negara Malaysia

    • How many banks in Malaysia offer Islamic products as of 2015?

  • 16 (correct)
  • 12
  • 14
  • 10

    • What is the purpose of the National Shariah Advisory Council in Malaysia?

  • To provide postgraduate education in Islamic finance
  • To advise Bank Negara Malaysia on Shariah aspects of Islamic banking operations (correct)
  • To advise the government on Islamic finance policies
  • To regulate the activities of Islamic banks in Malaysia

    • What was the first Islamic banking institution established in Malaysia?

    <p>Perbadanan Wang Simpanan Bakal-Bakal Haji</p> Signup and view all the answers

    When was the first Islamic bank in Malaysia established?

    <p>1983</p> Signup and view all the answers

    Which regulatory body advises Bank Negara Malaysia on the Shariah aspects of Islamic banking operations in Malaysia?

    <p>National Shariah Advisory Council</p> Signup and view all the answers

    What is the purpose of the Islamic Banking Scheme (IBS)?

    <p>To allow commercial banks, merchant banks and finance companies to offer Islamic banking products and services</p> Signup and view all the answers

    How many banks in Malaysia offer Islamic products as of 2015?

    <p>16 banks</p> Signup and view all the answers

    What is the International Centre for Education in Islamic Finance (INCEIF)?

    <p>A university for Islamic finance in Malaysia</p> Signup and view all the answers

    What is the Sharia-based criteria for companies to be included in the Islamic Malaysia Index?

    <p>All of the above</p> Signup and view all the answers

    Which institution was merged with PWSBH to form Lembaga Tabung Haji?

    <p>Pejabat Urusan Haji</p> Signup and view all the answers

    Which institutions are required to separate the funds and activities of Islamic banking transactions from that of the conventional banking business in Malaysia?

    <p>Commercial banks and merchant banks</p> Signup and view all the answers

    Apart from banks, what are the non-bank intermediaries offering syariah-based products in Malaysia?

    <p>Malaysia Building Society Berhad and cooperatives registered under the Cooperative Commission of Malaysia</p> Signup and view all the answers

    When was the Islamic Malaysia Index launched?

    <p>2005</p> Signup and view all the answers

    What is the main purpose of Lembaga Tabung Haji in Malaysia?

    <p>To provide a savings platform for Muslims to save for their Hajj expenses</p> Signup and view all the answers

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