Bank Islam, established in 1983, is Malaysia’s maiden Shariah-based institution. Since its inception, it has emerged as the symbol of Islamic banking in Malaysia and its vision to be “A Global Leader in Islamic Banking” illustrates the Bank’s status as the flag bearer of the country’s financial services industry (“the industry”)
The advent of Savings bank service in Malaysia dated back to the late 19th century. The first banks, namely the Perak and the Selangor Savings Bank were started in 1888 and 1893 respectively and were administered by the respective State Treasuries until they were taken over by the Postal Department. In 1907 the Perak and Selangor Savings Banks were dissolved and brought under the Federated Malay States Post Office Savings Banks which also provided services in the states of Negeri Sembilan and Pahang. It had then 3,320 depositors with just over RM340,000 standing to their credit.
Bank Rakyat (Bank Kerjasama Rakyat Malaysia Berhad) is an Islamic cooperative bank which was established on 28 September 1954 under the Cooperative Ordinance of 1948 (Cooperative Societies Act 1993), in 1989 it was controlled by the Ministry of Land and Co-operative Development and the Ministry of Finance and in 2002 changed control to the Central Bank of Malaysia under the Development of Financial Institution Act
The origin of Malaysia Building Society Berhad (MBSB) can be traced back to the Federal and Colonial Building Society Limited incorporated in 1950. In 1956, it changed its name to Malaya Borneo Building Society Limited (MBBS), with the Malaysian government as its major shareholder. MBBS was then listed on the Stock Exchange of Malaysia and Singapore in August 1963. The company became an incorporation in Malaysia under the Companies Act 1965 on 17 March 1970, before it was listed on the Kuala Lumpur Stock Exchange now Bursa Malaysia on 14 March 1972.
Founded in 1957, Al Rajhi Bank is one of the largest Islamic banks in the world with total assets of SR 288 billion (US$ 76.8 bn), a paid up capital of US$4.3 billion and an employee base of over 8,400 associates. With over 50 years of experience in banking and trading activities, the various individual establishments under the Al Rajhi name were merged into the umbrella 'Al Rajhi trading and exchange corporation' in 1978 and it was in 1988 that the bank was established as a Saudi share holding company.
MARA was formed by an act of Parliament in 1966. It had originally begun as the Rural Industrial Development Authority (RIDA), which was established by the British colonial administration in 1951, a program to provide economic assistance and support to Malay farmers and rural inhabitants. This organisation was expanded in scope and became the MARA in 1966. Although it is an autonomous government agency, it reports to the Minister of Entrepreneurial and Cooperative Development, who appoints all the members of the MARA Council. MARA operates three offices overseas.
RCE Capital was incorporated in Malaysia on 18 December 1953 as a limited company under the name of Leong Tian Tin Mines Limited. On 15 April 1966, the Company changed its name to Leong Tian Tin Mines Sdn Berhad. The name was later changed to Rislee Enterprise Sdn Berhad on 7 December 1978 before adopting the name Rislee Enterprise Bhd on 18 August 1993 to reflect its conversion to public limited company. Subsequently on 25 September 1993, the Company changed its name to Rediffusion Berhad before assuming its present name.
AEON Credit Service (M) Berhad (AEON Credit or the Company) was incorporated on 6 December 1996 and was converted into a public limited company on 9 February 2007 and listed on the Main Market at Bursa Malaysia Securities Berhad on 12 December 2007. AEON Credit commenced operations in 1997 by providing Easy Payment schemes for purchase of consumer durables through appointed retail merchants and chain stores.
The Naza Group of Companies is Malaysia’s largest privately-owned conglomerate with businesses in the automotive industry, property development, food and beverage and hotel management to name a few.The group traces its roots to a small motor trading company that was established by the late Tan Sri SM Nasimuddin SM Amin in 1975. That motor trading company later expanded to include used-luxury vehicles.Today, and is one of the largest importers of used-luxury vehicles in Malaysia.