The inaugural Euromoney Islamic Finance Awards 2023 which honours outstanding Islamic banks in key financial markets across the world, has named Maybank Islamic as Best Islamic Bank in Asia and Malaysia.

Announced recently by Euromoney magazine, the publication stated that by any measure,
Maybank Islamic is Malaysia’s best Islamic bank, as “it is ahead of its rivals in market share for total assets, financing, deposits and unrestricted investment accounts.”

As at end of 2022, Maybank Islamic closed the year with a market share of 29.6% of Islamic financing and 27.8% for deposit and investment account. Its total assets stood at RM320.1 billion, making it the number 5 largest Islamic bank in the world.

“We are indeed honoured to be named the Best Islamic bank not just in Malaysia but in Asia by a financial magazine that has been around for more than 50 years. This recognition is a testament of our year-on-year improved performance, strategic vision, and consistent pursuit of excellence in the highly competitive banking industry,” said Dato’ Mohamed Rafique Merican, CEO of Maybank Islamic.

He said that the Bank, with the support from the Maybank Group aims to consistently demonstrate its leadership and innovation in the Islamic financial sector, leveraging
technologies and digital solutions to enhance the banking experience for its customers.

“In line with Maybank’s M25+ strategy, we remain committed to ensure that we are quick to adapt to changing market dynamics that not only will drive our growth moving forward but to provide sustainable value to our stakeholders.

Being recognized as best in Asia is also a recognition of the commitment and capability demonstrated by Maybank in our pursuit of becoming the global leader in Islamic finance.
Our aspiration goes beyond growing our assets as we constantly aimed to be a leader in
providing world-class Shariah-compliant products and solutions.

One of Maybank’s key focus areas is the offering of the holistic Islamic Wealth Management solutions, through Singapore as a regional hub and Dubai, where Maybank Islamic has a presence.” said Dato’ Mohamed Rafique.

Euromoney magazine was launched in 1969 to cover the emergence of the international cross-border capital markets. Today, Euromoney is the primary magazine of the wholesale financial world, and has been for more than 50 years.

The awards ceremony took place in Hong Kong last week and Maybank Islamic was represented by CEO, Greater China & General Manager, Maybank, Hong Kong Branch Felino James Marcelo.