how to register for islamic banking online

How to Register for Islamic Banking Online

by

If you are looking for a way to manage your finances in accordance with the principles of Shariah, you might be interested in Islamic banking online.

Islamic banking online is a convenient and secure way to access various banking services and products that comply with Islamic law. You can open accounts, make deposits, transfer funds, pay bills, and more from the comfort of your home or office.

In this blog post, we will guide you on how to register for Islamic banking online with some of the leading Islamic banks in Malaysia. We will also share some of the latest news and developments in the Islamic banking industry in Malaysia.

What is Islamic Banking Online?

Islamic banking online is a form of digital banking that allows you to access Islamic banking services and products through the internet or mobile devices.

Islamic banking online follows the same rules and regulations as conventional online banking, but with additional features and benefits that are in line with Shariah principles.

Some of the features and benefits of Islamic banking online are:

  • No interest (riba) or usury charges on deposits, loans, or credit cards
  • Profit-sharing (mudarabah) or cost-plus (murabahah) arrangements for deposits and financing
  • Ethical and socially responsible investments that avoid prohibited activities such as gambling, alcohol, pork, etc.
  • Zakat (obligatory charity) calculation and payment services
  • Shariah-compliant insurance (takaful) and wealth management products

How to Register for Islamic Banking Online with Bank Islam

Bank Islam is one of the pioneer Islamic banks in Malaysia, with a network of over 140 branches nationwide.

Bank Islam offers a wide range of Islamic banking products and services, such as savings accounts, current accounts, term deposits, home financing, personal financing, car financing, credit cards, debit cards, takaful, unit trusts, and more.

To register for Islamic banking online with Bank Islam, you need to have an existing account with the bank. You can open an account online or at any branch. You also need to have a valid email address and mobile phone number.

To register for Islamic banking online with Bank Islam, follow these steps:

  1. Visit the Bank Islam website at https://www.bankislam.biz/ and click on “First Time User” at the top right corner.
  2. Enter your account number, IC number or passport number, email address, and mobile phone number. Then click on “Submit”.
  3. You will receive a verification code via SMS or email. Enter the code and click on “Verify”.
  4. You will be prompted to create your user ID, password, and i-Access code. The i-Access code is a six-digit number that you need to enter every time you log in to your account. Choose a user ID, password, and i-Access code that are easy to remember but hard to guess.
  5. You will also need to set up your security questions and answers. These are used to verify your identity in case you forget your password or i-Access code.
  6. Once you have completed the registration process, you can log in to your account using your user ID, password, and i-Access code.
  7. You can now enjoy various Islamic banking online services and features from Bank Islam.

How to Register for Islamic Banking Online with Hong Leong Islamic Bank

Hong Leong Islamic Bank is a subsidiary of Hong Leong Bank Berhad, one of the largest financial groups in Malaysia.

Hong Leong Islamic Bank offers a comprehensive range of Islamic banking products and services, such as savings accounts, current accounts, fixed deposits, home financing, personal financing, car financing, credit cards, debit cards, takaful, wealth management, and more.

To register for Islamic banking online with Hong Leong Islamic Bank, you need to have an existing account with the bank.

You can open an account online or at any branch. You also need to have a valid email address and mobile phone number.

To register for Islamic banking online with Hong Leong Islamic Bank, follow these steps:

  1. Visit the Hong Leong Islamic Bank website at https://www.hlisb.com.my/ and click on “Register” at the top right corner.
  2. Enter your account number or debit card number, IC number or passport number, email address, and mobile phone number. Then click on “Next”.
  3. You will receive a verification code via SMS or email. Enter the code and click on “Next”.
  4. You will be prompted to create your username and password. Choose a username and password that are easy to remember but hard to guess.
  5. You will also need to set up your security questions and answers. These are used to verify your identity in case you forget your password or username.
  6. Once you have completed the registration process, you can log in to your account using your username and password.
  7. You can now enjoy various Islamic banking online services and features from Hong Leong Islamic Bank.

How to Register for Islamic Banking Online with Affin Islamic Bank

Affin Islamic Bank is a subsidiary of Affin Bank Berhad, one of the leading financial groups in Malaysia.

Affin Islamic Bank offers a diverse range of Islamic banking products and services, such as savings accounts, current accounts, term deposits, home financing, personal financing, car financing, credit cards, debit cards, takaful, investment, and more.

To register for Islamic banking online with Affin Islamic Bank, you need to have an existing account with the bank. You can open an account online or at any branch. You also need to have a valid email address and mobile phone number.

To register for Islamic banking online with Affin Islamic Bank, follow these steps:

  1. Visit the Affin Islamic Bank website at https://www.affinalways.com/en/rib and click on “Register Now” at the top right corner.
  2. Enter your account number or debit card number, IC number or passport number, email address, and mobile phone number. Then click on “Next”.
  3. You will receive a verification code via SMS or email. Enter the code and click on “Next”.
  4. You will be prompted to create your username and password. Choose a username and password that are easy to remember but hard to guess.
  5. You will also need to set up your security questions and answers. These are used to verify your identity in case you forget your password or username.
  6. Once you have completed the registration process, you can log in to your account using your username and password.
  7. You can now enjoy various Islamic banking online services and features from Affin Islamic Bank.

Latest News and Developments in Islamic Banking Industry in Malaysia

Islamic banking is a fast-growing and dynamic sector in Malaysia, with many new initiatives and innovations being introduced to cater to the diverse needs and preferences of customers.

Here are some of the latest news and developments in the Islamic banking industry in Malaysia:

  • In October 2023, Bank Negara Malaysia (BNM), the central bank of Malaysia, launched the Shariah Governance Policy Document, which provides guidance on the roles and responsibilities of Shariah committees in Islamic financial institutions. The policy document aims to enhance the effectiveness and consistency of Shariah governance practices across the industry.
  • In September 2023, Maybank Islamic Berhad, the largest Islamic bank in Malaysia by assets, announced the launch of its first green sukuk (Islamic bond) under its Sustainable and Responsible Investment (SRI) Sukuk Framework. The green sukuk will be used to finance renewable energy projects that are aligned with the United Nations Sustainable Development Goals (SDGs).
  • In August 2023, CIMB Islamic Bank Berhad, the second largest Islamic bank in Malaysia by assets, partnered with Sun Life Malaysia Takaful Berhad, a leading takaful provider in Malaysia, to offer a new takaful product called Sun EduSmart-i. The product is a Shariah-compliant education savings plan that provides protection and investment benefits for parents and children.
  • In July 2023, RHB Islamic Bank Berhad, the third largest Islamic bank in Malaysia by assets, launched its first digital banking platform called RHB Now-i. The platform allows customers to access various Islamic banking services and products such as savings accounts, current accounts, term deposits, financing, takaful, zakat, and more through their smartphones or computers.

Conclusion

Islamic banking online is a convenient and secure way to access various Islamic banking services and products that comply with Shariah principles.

You can register for Islamic banking online with some of the leading Islamic banks in Malaysia such as Bank Islam, Hong Leong Islamic Bank, and Affin Islamic Bank by following some simple steps.

You can also keep yourself updated with the latest news and developments in the Islamic banking industry in Malaysia through various sources.

We hope this blog post has been helpful and informative for you. If you have any questions or feedback, please feel free to leave a comment below.

Sources

  • https://www.bankislam.biz/
  • https://www.hlisb.com.my/
  • https://www.affinalways.com/en/rib
  • https://www.bnm.gov.my/index.php?ch=en_press&pg=en_press&ac=5280&lang=en
  • https://www.maybank.com/en/news-support/newsroom-detailpage.page?detailId=163298812471713
  • https://www.cimb.com.my/en/personal/news-and-promotions/promotions/accounts/cimb-sun-edusmart-i.html
  • https://www.rhbgroup.com/islamic-banking/rhb-now-i/index.html

Leave a Comment