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About HLISB > About Us > Corporate Profile

Corporate Profile




Hong Leong Islamic Bank Berhad (HLISB), which is a member of the Hong Leong Group Malaysia, is a wholly owned subsidiary of Hong Leong Bank Berhad (HLB). With its beginning as the Islamic Banking arm of HLB, the division was incorporated as a separate entity on 28 th March 2005 and is today a full-fledged Islamic bank with an authorized and paid up capital of RM1 billion and RM500 million, respectively. HLISB is a dedicated brand offering a comprehensive range of innovative solutions covering areas like structured finance, capital market, Business Banking, personal financial services, bancatakaful and wealth management. The Bank is poised towards reaching out to the needs of customers seeking an alternative to conventional banking.

For the year ended 30 June 2004, the advances and financing of HLB's Islamic Banking Division (IBD) grew almost 20%, while deposits from customers increased by around 3% during the same period. Following the transfer of IBD's business to HLISB, the latter will continue to tap on HLB's infrastructure and strength in networking whilst developing its own business niche in fee-based income and investment banking products.

Strategically, HLISB is focusing on provision of solutions on a holistic approach basis encapsulating the tenets and principles of the Syariah law. Innovative solutions encompassing areas in structured finance, capital market, equity joint venture financing, leasing for home purchases and wealth management are amongst the repertoire of HLISB's offerings. With over 180 HLB branches nationwide also operating as HLISB branches, Islamic banking products and services will be easily accessible to Malaysian consumers to meet their multi-faceted needs.

HLISB is building upon the Malaysian Government's thrust to transform Malaysia into a global hub for Islamic Financial Services. Opportunities will be aplenty, and HLISB is gearing itself up to be one of the leading local Islamic banks by competing in a challenging market place, which is expected to also be filled with foreign Islamic bankers. HLISB will embark on ongoing comprehensive and integrated marketing initiatives to position itself in the market. To erase the misconception that Islamic Banking is only for Muslims, HLISB will also play a significant and leading role in improving the awareness level of the public towards Islamic Banking products and services.

Islamic Banking products and services normally subscribe to fixed rate mechanism which provide certainty, clarity and predictability, the cornerstone of fairness and equity inherent in Islamic commercial transactions (Muamalah). As a consequence, it is generally perceived that the products are strictly based on fixed rate mechanism. This perception is inaccurate since Islamic Banking embraces the concept of profit sharing and promotes greater transperancy in its financial dealings. Investors will enjoy higher returns as profit generated from investment is equitably shared as opposed to conventional banking model where profits reside in the hands of the conventional banks. Determination of buying and selling price upfront which are sacrosanct in any Islamic financing contracts are principles that enable consumers to better manage their cash flow effectively given that the Islamic financing contracts provide for clarity, certainty and predictability in the distribution of risks and returns.

In the west, more and more consumers are patronizing these so called ‘ethical financial instruments' which have managed to meet their financial requirements as an alternative to their conventional banking products. In fact, the market for Islamic Banking is much wider given that the products and services address the requirements of both Muslims and non-Muslims from religious, ethical and dynamic value proposition perspective.

The guiding principles of integrity, trust and service, which are synonymous with the Hong Leong Group should be consistent with Islamic banking principles, will continue to be adopted and practiced by HLISB. Its business concept, meanwhile, will be partnership rather than working in isolation, thereby, creating value and worth for its business partners and customers.

The above together with value-added financial services advice, a dedicated emphasis in providing solutions, quality and timeliness of delivery, HLISB's approach to business and services is well positioned at setting it apart from its competitors.

For more information, please visit our HLB and HLISB branches call Hong Leong Call Centre at 1-800-38-8888 during normal working hours or log on to Hong Leong Online at www.hlisb.com.my

 
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