Bank Muamalat launches Islamic digital bank ATLAS
The launch marks a transformative milestone in Bank Muamalat's journey to redefine Islamic banking and positions the Bank as a pioneer in Malaysia's rapidly growing digital banking landscape. It is a key component of the Bank's five-year RISE26+ Strategy, which aims to revolutionize the financial ecosystem through innovation, operational resilience, and Shariah leadership.
Designed from the ground up to meet evolving consumer expectations, ATLAS blends digital convenience with spiritual enrichment, creating a holistic financial ecosystem for the modern Muslim.
A distinctively Islamic, faith-centric experience
ATLAS stands apart from mainstream digital banking offerings by delivering a uniquely Islamic, faith-centered experience. The platform integrates features such as real-time Prayer Times, Daily Doa, Islamic Calendar, Zikir Counter, Kiblat Finder, as well as dedicated services for Zakat and Qurban — all thoughtfully crafted to support customers in living a values-driven and faith-aligned lifestyle.
'ATLAS was built for people — to deliver not just financial solutions, but meaningful digital experiences that align with our customers' values and daily needs. It represents the next evolution of Islamic banking: intuitive, inclusive, and deeply personal,' said Khairul Kamarudin, President and CEO of Bank Muamalat.
Khairul also highlighted ATLAS's role in expanding financial inclusion by reaching underserved and unbanked communities, particularly younger Malaysians, thereby contributing to sustainable national growth.
Powered by leading global technology partners
Developed in partnership with global technology leaders including Mambu, Google Cloud, Backbase, HyperQB, and Kestrl, ATLAS delivers a secure, scalable, and user-centric digital banking experience. These collaborations ensure the platform adheres to world-class standards for performance, data privacy, and customer engagement.
Fast onboarding and exclusive launch offers
ATLAS employs a digital-first approach, enabling users to activate accounts and start transacting within minutes through instant onboarding. Soon, the platform will introduce the virtual ATLAS x Mastercard Debit Card-i, granting immediate access to secure, Shariah-compliant digital payments.
To encourage early adoption, ATLAS is offering an exclusive 5% profit rate for the first three months to early users — a limited-time, high-yield Shariah-compliant savings incentive (terms and conditions apply).
Innovative savings and financial planning features
The platform features profit-generating savings accounts with daily earnings. Upcoming enhancements will include flexible Savings Pouch tools and personalized financial planning features designed to promote purposeful money management in alignment with spiritual values.
Availability
ATLAS is now available for download on the Apple App Store, with the Google Play Store version coming soon.
Join the journey to better
More than just a banking app, ATLAS is your digital companion for financial and spiritual growth. With innovation at its core and values at its heart, ATLAS sets a new benchmark in Islamic digital banking.
For more information, please visit https://atlasmuamalat.com.my.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
3 hours ago
- The Star
Sim: One million self-employed contributors target within reach
Steven Sim launching the workshop on Empowering Job Seekers Digital Platform Best Practices from OIC Member Countries at Hotel Royale Chulan in Kuala Lumpur on July 8. — LOW BOON TAT/The Star GEORGE TOWN: The Human Resources Ministry is confident that the target of one million active contributors under the Self-Employment Social Security Scheme (SKSPS) by the end of this year will be reached. Its minister Steven Sim (pic) said the ministry hopes to reach the target thanks to various efforts and awareness campaigns currently running nationwide. He said as of now, there are more than 800,000 active contributors nationwide under the scheme, and that number is expected to increase in the near future. 'The goal is for it to reach more people especially those who are self-employed. 'It is a social benefit offered by the government. 'If there is any accident or any incident, contributors can claim and have coverage in the form of compensation, pension, medical and rehabilitation care. 'It is important and that is why we want to promote it,' he told the press after attending the briefing session for representatives from various non-Islamic houses of worship in Penang, about the SKSPS benefits under the Social Security Organisation (PERKESO) at the Penang Harmony Centre here yesterday. Sim said that PERKESO has been carrying out programmes for those who fall under Islamic institutions and it was now reaching out to non-Islamic places of worship. He said last year there were 348 individuals from non-Islamic houses of worship who had started contributing to the scheme. 'This year, from January to June, we have 342 new individuals contributing to it. Earlier during the event, Sim under his ministerial portfolio, sponsored contributions for 200 individuals (RM46,560) from several non-Islamic places of worship in Penang. 'We hope this will spur more people under this sector to come forward to contribute. 'It comes up to RM232 a year, which is about 60sen a day. 'It is important that they know they can be protected under this scheme,' he said. Sim then shared in his speech that mutual respect for each other's cultures and using our diversity as our strength is of utmost importance. 'What is special about Malaysians is that we can work together. Our diversity is our strength. 'Regardless of our religious beliefs and differences, we are united. As the leaders of non-Islamic places of worship here you have a role to play to ensure that our community can live in peace with each other,' he said.
The Star
3 hours ago
- The Star
King to make historic state visit to Russia this week
KUALA LUMPUR: His Majesty Sultan Ibrahim, King of Malaysia, will undertake a state visit to Russia from Aug 5 to Aug 10 at the invitation of President Vladimir Putin. In a statement, Istana Negara announced that His Majesty will make history as the first Malaysian Head of State to conduct a state visit to Russia since the establishment of diplomatic relations in 1967. 'This visit also reflects the important role of the Malaysian monarchy in advancing the nation's diplomacy,' it said yesterday. Istana Negara said that the visit will not only strengthen existing bilateral relations, but also open new avenues for cooperation in various fields, including trade, higher education, technology, innovation and people-to-people ties, Bernama reported. As Asean Chair in 2025, Malaysia will also play a major role in enhancing strategic cooperation, particularly in the context of Russia's status as an Asean Dialogue Partner since 1996. While in Moscow, Istana Negara said Sultan Ibrahim will be accorded a state welcome ceremony at the Kremlin by Putin, followed by an official meeting between the two Heads of State. 'His Majesty will also attend a state banquet hosted by the President of the Russian Federation,' Istana Negara said. His Majesty is then scheduled to visit the Central Scientific Research Automobile and Automotive Engines Institute (Nami), as well as the Tochka Kipeniya Technology and Innovation Hub. After concluding his programme in Moscow, His Majesty will travel to Kazan in the Republic of Tatarstan on Aug 8. Tatarstan is one of Russia's autonomous republics, with a Muslim-majority population. In Kazan, Istana Negara said His Majesty will be granted an audience with the Rais (Head) of the Republic of Tatarstan, Rustam Minnikhanov, and will tour a helicopter manufacturing and assembly facility.
Borneo Post
5 hours ago
- Borneo Post
Validity based on law
Hibah can be challenged in court by the heirs if there are weaknesses or non-compliance with legal or religious requirements. — Bernama photo HIBAH, which in Islamic law refers to assets voluntarily given or transferred to a beneficiary by a person during their lifetime, is generally viewed as final and not open to dispute. However, a recent decision by the High Court came as a shock to many when it annulled a 'takaful' (Islamic insurance) hibah worth RM1 million that had been given to the policyholder's widow. [This case involved a takaful policyholder who named his wife as the hibah recipient. But, after his death, his family filed a claim in the Syariah Court to challenge the takaful hibah, but the court upheld the widow's right to the funds. The family then brought the case before the Civil Court, which ruled in favour of the family and ordered that the funds be redistributed according to 'faraid', or Islamic inheritance law]. The case has sparked a heated debate on social media because the general perception is that hibah cannot be challenged by other heirs. Many netizens, who had placed full trust in the 'immunity' of hibah from legal disputes, questioned the validity of takaful hibah. Some even accused their takaful agents of being 'scammers' because there is no guarantee that the hibah cannot be challenged in court. 'It can be challenged' According to lawyer Dr Mahmud Abdul Jumaat, hibah is a voluntary transfer of property from a giver to a recipient during the giver's lifetime, usually done to avoid inheritance disputes later on. Hibah also refers to the immediate transfer of asset ownership, made without expecting anything in return and based on love or affection. 'However, in reality, hibah can be challenged in court by the heirs if there are weaknesses or non-compliance with legal or religious requirements, like, for example, the hibah document is unclear or incomplete. 'Similarly, if the gift (hibah) doesn't fulfil the pillars and conditions of Islamic law or lacks the recipient's consent, or the property is not fully owned by the giver, then heirs have the right to question its validity in court. 'Challenges usually arise when heirs feel dissatisfied, for example, if they believe the hibah undermines their faraid rights, or suspect fraud or coercion in the process,' he tells Bernama. Hibah also refers to the immediate transfer of asset ownership, made without expecting anything in return, and based on love or affection. — Bernama photo Mahmud says if a hibah is made while the giver is suffering from a terminal illness, it (gift) will be treated as part of the giver's estate and, hence, will be subject to the appropriate conditions. In such cases, he points out that the heirs may challenge the hibah on the grounds that it violates Islamic inheritance laws. He also clarified that under Malaysia's legal framework, hibah falls under the jurisdiction of both the syariah and civil courts. 'The Syariah Court holds specific authority to verify the validity of a hibah under Islamic law, while estate administration (distribution of estate after death) falls under civil jurisdiction, such as the Small Estate Office or the Civil High Court. 'Conflicts can arise if there's overlap or confusion between these two jurisdictions. 'For instance, heirs may challenge a hibah in Civil Court by claiming that the property concerned is still part of the estate and must be distributed via faraid, even if the Syariah Court has already confirmed the hibah as valid. 'This was exactly what happened in the recent takaful hibah court case, where a legal technicality (involving Schedule 10 of the Islamic Financial Services Act (IFSA) 2013 regarding hibah nominations) led to a contradiction between the syariah and civil court rulings. 'Overall, a hibah can be challenged if it doesn't meet religious or legal conditions. 'But if it is properly executed in line with syariah principles and legal requirements, it is usually upheld as valid, even if contested,' he explains. Understanding the procedures On experts and estate planning practitioners' assertion that hibah remains a relevant instrument for asset distribution as long as the procedures are carried out properly, Mahmud says the fact that hibah can be challenged does not mean it is automatically invalid or illegal. Rather, it simply means hibah is not an 'untouchable' instrument immune from scrutiny. 'If something is challengeable, it doesn't mean it's inherently bad. 'Just like a 'wasiat' (will) or any other legal document, hibah offers a good solution for estate planning, but it must be executed carefully in accordance with Islamic principles. 'In fact, under Islamic law, hibah is permissible and considered a suitable practice as long as it doesn't contradict faraid and fulfils syariah requirements. 'The recent court case highlights the importance of understanding the legal processes involved in hibah, rather than rejecting its benefits outright,' he says. Dr Mahmud Abdul Jumaat Mahmud adds that it is important to realise that the court challenges usually stem from technical or procedural weaknesses, and not because the concept of hibah is invalid. Pointing to the recent court case, he says it involves specific legal provisions (takaful hibah nominations under IFSA 2013), adding that the court decision is not final yet as it is expected to be appealed. Mahmud also observes that most other forms of hibah, such as property, cash or other assets, are recognised as valid as long as they fulfil the necessary conditions. 'Therefore, the people need not panic, but should instead focus on strengthening their hibah procedures. 'Hibah continues to be an important tool for Islamic estate planning in Malaysia. 'It allows the wishes of the deceased to be honoured – for example, protecting the welfare of specific family members or chosen recipients – without breaching faraid, if handled correctly. 'What's crucial is to understand that hibah is not an absolute guarantee on paper alone. 'It requires proper understanding and correct execution to ensure the giver's intentions are fulfilled smoothly and without future disputes,' he says. Alternatives According to Mahmud, aside from hibah, there are several alternative methods to transfer wealth or assets to the loved ones that carry a lower risk of being challenged. These include direct transfers during one's lifetime through standard ownership transfers or gifts, without relying on formal hibah documents. 'For example, a husband may give cash or transfer property ownership to his wife legally while still alive. 'Once the property is registered in the wife's name, it becomes her absolute right and is no longer considered part of the husband's estate after his death. 'In other words, assets given during the giver's lifetime are not subject to faraid distribution because the ownership has already changed hands before death. 'These direct transfers – whether via a deed of gift, transfer of ownership at the land office for real estate, or bank account balance transfer – can help avoid disputes as other heirs no longer have a claim on the assets given as gifts. 'In addition, married couples may consider joint ownership arrangements – for example, registering assets like a house or bank account under both husband and wife's names. 'Depending on legal practices, this method sometimes allows the asset to automatically pass to the surviving joint owner without going through the inheritance process.' Mahmud also points out that for Muslim couples in Malaysia, a wife can also make a claim for joint matrimonial property in the Syariah Court after the husband's death, and vice versa. Through this claim, the court will determine a portion of the jointly acquired assets as the wife's rightful share. This portion is removed from the deceased's estate and cannot be disputed by other heirs as it already belongs to the wife. Another alternative is to use a trust as an asset distribution tool. The asset owner can appoint a trustee institution or trust company, such as Amanah Raya Bhd or a private trust firm, and transfer specific assets to the trustee through a formal trust agreement, with instructions that the assets be held for the benefit of a chosen recipient. 'For instance, a father might place a sum of money or property into a trust for his child under certain conditions. 'Upon his death, those assets would not be included in his estate because they were already placed in trust during his lifetime. 'The trustee would then distribute the assets to the child according to the terms of the trust, and other heirs could not challenge it because legally, the assets no longer belonged to the deceased at the time of death,' he says, adding that trusts usually involve costs and require professional management. 'Wills can be challenged' Explaining that Muslims can also consider making a will, Mahmud says this is permissible within certain limits, one of which is that only up to one-third of the estate (after deducting debts) can be given to non-heirs. Additionally, a will cannot include faraid heirs – unless with the consent of all other heirs. A will is a written or verbal declaration by someone about how their assets should be distributed after death and it only takes effect upon their passing. 'If the will exceeds the legal limit, or is made in favour of a faraid heir without the consent of others, it can be challenged. 'Any portion exceeding one-third will revert to faraid distribution, and any bequest to an heir without consent will be invalid, unless all other heirs agree to it. 'For Muslims, a will must be validated by the Syariah Court via a will confirmation order, whereas for non-Muslims, the probate process must be conducted in the Civil Court before assets can be distributed. 'Wills take time and may be contested if there are questions about their validity,' he adds. 'Documents must be complete' To ensure a hibah is strong and less likely to be challenged, Mahmud says both the giver and the recipient must make sure that its documentation is clear and complete. It should include details such as the identities of the giver and the recipient; a description of the asset to be given as gift; declarations of the offer and acceptance; signatures; and witnesses. He also says the hibah documents must be free of ambiguity and meet all requirements of Islamic law and existing regulations. 'It's always better for a hibah to be done in writing – rather than verbally – as written documents serve as strong proof of intention and mutual consent. 'Moreover, anyone planning to gift assets through hibah is encouraged to seek Syariah Court confirmation and prepare formal documentation. 'Confirmation from the Syariah Court (via a hibah confirmation order) certifies the validity of the hibah under Islamic law and makes it binding on other heirs. 'It's also advisable for the hibah giver to seek professional advice from a syariah lawyer, religious institution officer or estate planning consultant before and during the process,' he says, adding that the experts can ensure no technical aspects are overlooked, such as in the case of property, whether or not it is still under mortgage; or if there is a need to obtain bank consent; or for takaful hibah, whether or not the correct nomination procedures have been followed. Conditional hibah Al-Isra' Group associate manager Reefa Shahidah Mohd Razali, meanwhile, believes that the issue of takaful hibah being disputed in court would not arise if its implementation followed the existing legal framework under IFSA 2013. She explains that the hibah used in the current takaful industry is 'conditional hibah' – a direct gift made by the policyholder to the nominated recipient in the takaful certificate. Reefa Shahidah Mohd Razali 'There's no basis for accusing takaful agents of misleading clients because the implementation of this hibah is based on valid legal provisions under IFSA 2013, specifically Schedule 10, which outlines the hibah instrument. 'Hibah management in today's takaful differs from older plans that existed before IFSA 2013. 'Before the Act was enforced, most plans used the concept of 'wasi' (trustee), not absolute ownership-based hibah. 'That's why there was confusion in the past – it was not clearly stated whether the gift to heirs was through hibah or wasi. 'Today, it's clear. In current takaful plans, conditional hibah is valid and legally grounded,' she points out, adding that hibah nominations are valid and cannot be contested unless there is an element of fraud or breach of contract. 'Everything is based on the law. 'In fact, we encourage clients to fully understand the concept of conditional hibah before signing any policy.' — Bernama
