Bank Islam Malaysia Bhd.

Bank Islam Contributes RM120,900 In Business Tithe

Today Bank Islam Malaysia Bhd presented to the Sabah Tithe Centre business tithe of RM120,979 for distribution to deserving recipients. Last year the bank also registered a pre-tax and pre-tithe profit amounting to RM470.1 million.

Shariah-Compliant Hedging Derivatives Start in Malaysia

Standard Chartered Plc and Bank Islam Malaysia Bhd. plan to offer Shariah-compliant derivatives in Malaysia that will allow investors to hedge against interest rates and commodity prices.
Bank Islam Malaysia, the country’s oldest Islamic lender, will offer swaps that allow two parties to exchange different forms of payments from an underlying asset. Standard Chartered, the U.K. bank that earns most of its profit from emerging markets, will begin selling contracts in the first quarter that provide protection from fluctuations in the cost of items such as rice and oil.

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