Latest news with #KhairulKamarudin
New Straits Times
7 days ago
- Business
- New Straits Times
Bank Muamalat unveils new step-up profit rate package for first-time homebuyers
KUALA LUMPUR: Bank Muamalat Malaysia Bhd has launched a Step-Up Profit Rate (Super) package under the government-backed Skim Jaminan Kredit Perumahan (SJKP). The new offering, known as Smart Mortgage SJKP Super, is designed for first-time homebuyers, particularly those with informal income or limited credit history. It provides a more flexible financing solution and offers funding of up to RM500,000, inclusive of mortgage reducing term takaful or mortgage level term takaful, legal fees and valuation fees. Bank Muamalat president and chief executive officer Khairul Kamarudin said the product builds on the bank's involvement in the SJKP scheme since 2019 and follows the introduction of its smart mortgage offering in 2022. "This innovative offering is designed to ease the financial burden of homeownership, particularly in the early years of financing. "Through the Super, customers benefit from lower monthly instalments for the first five years, giving them breathing room to manage other financial obligations or build their savings," he said in a statement today. Khairul added that the bank has also introduced the SJKP Madani Step-Up variant, which provides up to 120 per cent financing to further support its customers. This extended coverage includes not just the home but also renovation, furnishings, and fittings. "In collaboration with reputable property developers across the country, Bank Muamalat is actively promoting affordable housing projects under the SJKP scheme, expanding opportunities for eligible Malaysians to secure their first homes," added Khairul. The SJKP programme, established in 2008 and managed by Syarikat Jaminan Kredit Perumahan Bhd, is under the Minister of Finance Inc. It aims to assist underserved Malaysians, particularly those without fixed or formal income in purchasing their first homes. Its principal officer Datuk Fazlur Rahman Zainuddin said the programme targets groups such as gig workers, farmers, fishermen, and night-market or petty traders. "This year, the government has allocated RM10 billion worth of guarantee for 2025, including RM5 billion specifically for the Step-Up financing initiative. "As of May 31 2025, 88,507 recipients have successfully purchased their first homes through the scheme," said Fazlur.
New Straits Times
10-07-2025
- Business
- New Straits Times
Bank Muamalat cuts base rates after OPR reduction
KUALA LUMPUR: Bank Muamalat Malaysia Bhd has adjusted its base rates following Bank Negara Malaysia's move to lower the overnight policy rate (OPR). Effective July 14, 2025, the bank will reduce its Standardised Base Rate (SBR) from 3.00 per cent to 2.75 per cent, its Base Rate (BR) from 3.81 per cent to 3.56 per cent, and its Base Financing Rate (BFR) from 6.81 per cent to 6.56 per cent. "This will affect all floating-rate financing packages pegged to the SBR, BR and BFR. "In line with the decrease in SBR, BR and BFR, Bank Muamalat's FTA-i deposit rates will also be revised accordingly," the bank said. Bank Muamalat president and chief executive officer Khairul Kamarudin said the rate adjustment aligns with Bank Negara's recent decision to lower the OPR to 2.75 per cent. He added that the revision supports the bank's ongoing efforts to promote economic growth while fulfilling the expectations of its stakeholders.
Barnama
05-07-2025
- Business
- Barnama
Bank Muamalat Advances Islamic Finance To Drive Socioeconomic Growth In Sabah
TAWAU, July 5 (Bernama) -- Bank Muamalat Malaysia Berhad is advancing Islamic finance to drive socioeconomic development through various social finance initiatives, said its president and chief executive officer, Khairul Kamarudin. These initiatives include presenting participation certificates to 16 selected micro-entrepreneurs under the iTEKAD Bank Muamalat Sabah programme, signing a memorandum of understanding with the Credit Counselling and Debt Management Agency (AKPK), and launching the Jariah Fund 'Pek Ikhlas Sabahan' crowdfunding campaign in collaboration with Yayasan Ikhlas. 'In Sabah, 16 micro-entrepreneurs from the B40 and asnaf groups have been selected as the inaugural iTEKAD participants. They will receive up to RM10,000 in microfinancing and grants, fully sponsored entrepreneurship training and six months of intensive mentoring,' he said in a statement to Bernama issued in conjunction with the Financial Literacy Carnival 2025 at Eastern Plaza today.
The Sun
06-06-2025
- Business
- The Sun
Introducing ATLAS: Malaysia's pioneering Shariah-compliant digital bank by Bank Muamalat
BANK Muamalat Malaysia Berhad (Bank Muamalat) today officially launched ATLAS by Bank Muamalat, Malaysia's first Islamic digital-only bank designed around faith and lifestyle alignment. Purpose-built to offer a seamless, Shariah-compliant banking experience, ATLAS combines innovative financial technology with lifestyle features tailored for the faith-conscious and tech-savvy generation. 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.
The Sun
06-06-2025
- Business
- The Sun
Bank Muamalat launches Islamic digital bank ATLAS
BANK Muamalat Malaysia Berhad (Bank Muamalat) today officially launched ATLAS by Bank Muamalat, Malaysia's first Islamic digital-only bank designed around faith and lifestyle alignment. Purpose-built to offer a seamless, Shariah-compliant banking experience, ATLAS combines innovative financial technology with lifestyle features tailored for the faith-conscious and tech-savvy generation. 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
