Bank Islam Malaysia Qard Current Account-i
Islamic Bank Accounts in Melaka
Bank Islam's chequing account under the Qard contract for safe custody of cash, open to Malaysians and permanent residents aged 18+, with minimum initial deposit RM500 for individuals and RM1,000 for non-individuals, and no minimum balance thereafter. Facilities include Bankcard, salary crediting and sweeping, standing instructions, e-Debit point-of-sale payment, MEPS Cash e-purse, internet and TAP mobile banking; hibah may be given monthly at the bank's discretion. Account types span individual, joint, partnership, government, association and more. PIDM protected up to RM250,000 (crawled bankislam.com 2026-08-06).
A cleanly documented Qard chequing account with the lowest individual entry among the six banks and no minimum balance. It does everything a transactional account should under honest Islamic terms. If you carry large operating balances and want published yield on them, Public Islamic's tiered hibah current accounts pay up to 0.80% at the top tier; Bank Islam's answer is simplicity and the credibility of a 1983-vintage full Islamic balance sheet.
Pros
- Lower entry (RM500) than Maybank Islamic's RM1,000 with no minimum balance requirement
- Same full contract transparency as the bank's savings products
- Discretionary monthly hibah possible even on a current account
Cons
- No introducer requirement stated, but opening remains branch-based
- No hibah rate history published
- Business users wanting yield tiers are better served by Public Islamic's PLUS Current Account-i
Open Account
Visit Bank Islam Malaysia's website to learn more and get started.
See pricing & termsOpens Bank Islam Malaysia's site, no obligation
Product Details
Account Type
Current account
Min Deposit
RM500 individual; RM1,000 non-individual
Structure
Qard: guaranteed principal, discretionary hibah
Bank Islam Malaysia in Melaka
Bank Islam Malaysia's Current account serves customers in Melaka. Malaysian Islamic accounts pay contracted Tawarruq profit or discretionary hibah depending on the underlying contract, never interest. Deposits at PIDM member banks are protected up to RM250,000 per depositor per member bank; check each provider's membership status, which our profiles document. Bank Islam Malaysia operates across Malaysia, so Melaka residents have full access to this product.
Shariah Compliance & Oversight
Bank Islam's Group Shariah Supervisory Council (GSSC) reports functionally to the Board and is named in full on the bank's leadership page: Ir Dr Muhamad Fuad Abdullah (Chairman), Sahibus Samahah Prof. Dato' Dr Asmadi Mohamed Naim, Dr Shamsiah Mohamad, Datu Haji Kipli Haji Yassin, Prof. Dr Wan Abdul Fattah Wan Ismail and Prof. Emeritus Dato' Dr Mohd Azmi Omar. The GSSC has a published Charter and Terms of Reference and performs oversight of all Shariah matters across the group (bankislam.com/corporate-info/about-us/leadership/ and /corporate-info/corporate-governance/, crawled 2026-08-06).
2026-08-06
Why It's Halal
The Qard contract is printed in full, including the bank's right to deploy the funds, its guarantee of the whole balance on demand, and the purely discretionary nature of hibah. That is the classical treatment for transactional money at a full-fledged Islamic bank whose entire operation sits under the named six-member Group Shariah Supervisory Council (crawled bankislam.com 2026-08-06).
Regional Availability
Bank Islam Malaysia serves all of Malaysia
✓ Available nationwide including Melaka
Open Account: Bank Islam Malaysia
Visit Bank Islam Malaysia's website to get current terms, check eligibility for Melaka, and get started today.
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NationwideFrequently Asked Questions
What is Bank Islam Malaysia Qard Current Account-i?
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Is Bank Islam Malaysia Qard Current Account-i available in Melaka?
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Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.