How are Halal Money Index grades calculated?

Each provider is scored on Shariah integrity (35 points: the strength and credibility of Shariah oversight, with claims requiring published evidence such as named boards, fatwas and audit reports), transparency (20: whether the board, scholars, methodology and real fee numbers are publicly disclosed, plus how complete the provider's data profile is), cost/value (15: pricing transparency, since publishing actual rates and fees beats hiding them in an unpublished fees schedule), and track record (10: at least a year in operation earns full marks, so longevity beyond that adds nothing). A 20-point verified-data credit reflects how recently our editorial team verified the provider's data against its published sources, and it decays when verification goes stale. Up to 4 editor's-pick points recognize documented benefits the rubric can't quantify, awarded only with a published rationale. Missing data is never excused: it scores a conservative floor and is flagged. Every grade is reviewed and approved before publication.

Is a low grade a religious ruling that a provider is not halal?

No. The Index is not a fatwa and HalalWallet does not issue religious rulings. A low Shariah-integrity score most often means a provider has not published evidence of independent Shariah oversight, which is a transparency problem, not necessarily a compliance one. All Islamic banks in Malaysia operate under BNM Shariah governance requirements. We encourage every consumer to review a provider's own Shariah documentation and consult a qualified scholar for religious questions.

Can providers pay for a better grade?

No. Grades are computed from the same rubric for every provider and the methodology is published in full on this page. Even the editor's-pick points are capped at 4, positive-only, and require a published rationale. Providers can improve their grade one way: by publicly disclosing stronger Shariah oversight, real rates and fees, and a complete data profile.

Why do many Malaysian banks share similar grades?

Because their public disclosure profiles genuinely are similar. Nearly every Islamic bank in Malaysia maintains a formal Shariah committee (BNM requires it), names its scholars, and publishes oversight detail, so the Shariah-integrity pillar clusters near the top. What separates leaders is the rest: publishing actual rates and spreads instead of pointing to a general fees page, publishing a founding date, and documenting more of the product line. Where the registry can't verify a data point, the provider scores the conservative floor for it.

How often are grades updated?

Grades recompute whenever the underlying registry data changes: new Shariah certifications, new declared rates, fee changes, or new disclosures. Every change is re-reviewed before it publishes. The Index is a living scorecard, not an annual snapshot.

The independent scorecard for halal money in Malaysia

The Halal Money Index

Every Malaysian halal provider, graded from A to B− on a transparent rubric: Shariah integrity, transparency, pricing disclosure, track record, and verified data. Computed from HalalWallet's live provider registry, reviewed before publication, and updated whenever the data changes.

Quick Answer

The Halal Money Index grades every Malaysian halal finance provider from A to B- on Shariah integrity (35 points), transparency and data completeness (20), cost/value measured as pricing disclosure (15), track record (10), and verified data (20). Up to 4 further points are an editor's pick, awarded only with a published rationale. Coverage is shown for context but never scored. Of the 80 provider grades published so far, 46 earn an A or A-. The rest range from B+ down to B-, the floor grade, which means we don't yet have enough verified information rather than that a provider is bad. Grades are computed from HalalWallet's live provider registry and reviewed before publication.

Islamic Bank Accounts

Compare all islamic bank accounts options →

Qard and Tawarruq savings, current accounts and term deposits from BNM-licensed Islamic banks.

A
Hong Leong Islamic BankHigh confidence
Prof. Rusni Hassan chairs a named committee backed by four internal Shariah functions, with dated deposit grids to 2.05%, though the standard savings rate is near zero below RM200,000.
Named Shariah committee · est. 2005 · available across Malaysia · Tawarruq savings with agency mechanics explained
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
CIMB IslamicHigh confidence
Printed savings tiers, dated FD-i board rates to 2.05% and a six-scholar committee including Prof. Al-Shubaily published in the FY2025 accounts: big-bank disclosure done mostly right.
Named Shariah committee · documented since 2020 · available across Malaysia · Tawarruq savings with printed tier rates
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
OCBC Al-AminHigh confidence
The 360 Account-i prints exact bonus mechanics to an effective 3.00% plus a dated FD-i grid, under a named six-member committee, disciplined disclosure from OCBC's 2008-incorporated Islamic subsidiary.
Named Shariah committee · est. 2008 · available across Malaysia · Islamic bonus-pillar savings (contract per PDS)
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Public Islamic BankHigh confidence
Full committee biographies and the freshest deposit pricing in the cluster: standard tiers, the 2.10% ForU2Save headline and a term grid effective 5 August 2026.
Named Shariah committee · documented since 2022 · available across Malaysia · Commodity Murabahah savings with published ceiling rate
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
RHB Islamic BankHigh confidence
Printed tier grids across savings, current and term accounts, with Islamic FD rates matching RHB's conventional board exactly, under a committee profiled in the group's Integrated Report 2024.
Named Shariah committee · documented since 2015 · available across Malaysia · Commodity Murabahah (Tawarruq) savings family
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Alliance Islamic BankHigh confidence
Textbook Qard honesty: a dated historical hibah table to 2.75% with an explicit no-promise disclaimer under a named five-scholar committee, but balances below RM20,001 earn zero.
Named Shariah committee · documented since 2020 · available across Malaysia · Qard savings with discretionary hibah
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
AmBank IslamicHigh confidence
A named six-scholar committee and a savings rate printed with its effective date; the rate is 0.10%, so the disclosure is better than the yield, and term pricing lives on a separate page.
Named Shariah committee · documented since 2022 · available across Malaysia · Islamic savings (contract per PDS)
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
MBSB BankHigh confidence
A named committee, on-page savings tiers to 1.00% and dated term grids to 2.20%: above-average deposit disclosure from a full-fledged Islamic bank.
Named Shariah committee · documented since 2020 · available across Malaysia · Tawarruq tiered savings
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Standard Chartered SaadiqHigh confidence
A committee running since October 2000 with named scholars stands behind a modest printed 0.05% savings rate; the real value is the printed 5% cashback and promotional 3.75% term money.
Named Shariah committee · documented since 2000 · available across Malaysia · Commodity Murabahah savings
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Bank Islam MalaysiaHigh confidence
Malaysia's first Islamic bank (1983) fields a fully named Group Shariah Supervisory Council with a published charter, but its deposit pages print minimums and draw dates rather than profit rates.
Named Shariah committee · est. 1983 · available across Malaysia · Tawarruq savings with prize draws
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Affin Islamic BankHigh confidence
A full-fledged Islamic bank operating since April 2006 with RM100 entry and no conventional-window ambiguity, but deposit rates defer to a separate rates page, so the shelf reads cleaner than it prices.
Named Shariah committee · est. 2006 · available across Malaysia · Islamic savings (contract per PDS)
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Maybank IslamicHigh confidence
Five publicly profiled scholars under Assoc. Prof. Dr. Aznan Hasan anchor Malaysia's largest Islamic banking franchise, but deposit rates are not printed and the legacy rates page dates to 2015.
Named Shariah committee · documented since 2013 · available across Malaysia · Qard (loan) savings account
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Al Rajhi Bank MalaysiaHigh confidence
The Saudi group's Malaysian arm prints savings tiers to 3.50%, campaign term rates to 3.80% and even the 0.01% commodity agency fee, though its current committee roster is known via BNM's 2021 list.
Shariah committee named via BNM list or reports · est. 2006 · available across Malaysia · Commodity Murabahah tiered savings
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Bank Muamalat MalaysiaHigh confidence
One of Malaysia's two original Islamic banks (1999) prints separate Tawarruq and Qard variants with their own terms plus a dated deposit grid to 2.10%, granular contract disclosure at nominal returns.
Shariah committee named via BNM list or reports · est. 1999 · available across Malaysia · Tawarruq / Qard savings variants
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
HSBC Amanah MalaysiaHigh confidence
A dated term deposit table to 2.05% plus unusually explicit published ibra rules for early withdrawal, under a committee whose current roster is on file only via BNM's 2021 list.
Shariah committee named via BNM list or reports · est. 2008 · available across Malaysia · Commodity Murabahah term deposit
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
AgrobankHigh confidence
The agriculture DFI prints hibah tiers to 0.45% and a dated term grid to 2.50%, but it sits outside PIDM and its committee is named via BNM's list rather than its own pages.
Shariah committee named via BNM list or reports · documented since 2015 · available across Malaysia · Wadiah Yad Dhamanah Giro account
Score breakdown
Shariah integrity
28/35
Transparency
12/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Bank RakyatHigh confidence
The Islamic cooperative bank prints full savings tiers and a term grid to 2.30% with correct discretionary-hibah language, but it is a DFIA institution outside PIDM with no governance-page roster.
Shariah committee named via BNM list or reports · documented since 1978 · available across Malaysia · Tawarruq / Qard savings variants
Score breakdown
Shariah integrity
28/35
Transparency
12/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
AEON BankHigh confidence
Malaysia's first Islamic digital bank prints a 3.00% promotional Savings Pot rate against an honest 0.25% prevailing disclosure, though its committee membership is reported rather than published on its own pages.
Shariah committee named via BNM list or reports · documented since 2022 · available across Malaysia · Islamic digital savings with Savings Pots (contract per PDS)
Score breakdown
Shariah integrity
28/35
Transparency
12/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
KAF Digital BankMedium confidence
The KAF digital bank publishes a dated weekly hibah history, 5.00% on the first RM2,000, with a textbook discretionary disclaimer, but its BNM-approved committee members are not named publicly.
Shariah committee claimed, roster not published · documented since 2022 · available across Malaysia · Islamic digital savings with weekly hibah
Score breakdown
Shariah integrity
23/35
Transparency
12/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
Lembaga Tabung HajiMedium confidence
The statutory hajj savings fund with a government guarantee, central zakat payment and a published 3.50% distribution for 2025, though its governance pages describe compliance without naming the bench.
Shariah committee claimed, roster not published · documented since 2018 · available across Malaysia · Wakalah hajj savings with government guarantee
Score breakdown
Shariah integrity
21/35
Transparency
9/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

Islamic Home Financing

Compare all islamic home financing options →

Diminishing Musharakah and Ijarah home finance, including government-subsidised schemes.

A
Hong Leong Islamic BankHigh confidence
A printed worked example, RM350,000 over 30 years at 3.60% EPR with a contractual ceiling and rebate mechanics, plus up to 110% financing for first-time buyers.
Named Shariah committee · est. 2005 · available across Malaysia · Commodity Murabahah flexi property financing with ceiling rate
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Bank Islam MalaysiaHigh confidence
The sharpest printed home financing rate in the cluster, SBR plus 0.80% for a 3.55% EPR with no lock-in and no early settlement penalty, from Malaysia's first Islamic bank.
Named Shariah committee · est. 1983 · available across Malaysia · Islamic home financing, SBR-referenced floating (contract not named on page)
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
RHB Islamic BankHigh confidence
The only full published board grid in the cluster, SBRI plus 3.05% to 3.60% by financing size with a 4.50% standard indicative rate, plus a true Musharakah Mutanaqisah variant.
Named Shariah committee · documented since 2015 · available across Malaysia · Commodity Murabahah (Tawarruq) home financing
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
OCBC Al-AminHigh confidence
The 100% stamp duty waiver on principal refinanced from conventional loans is the standout, with no-penalty terms stated, though the rate is quoted per application.
Named Shariah committee · est. 2008 · available across Malaysia · Commodity Murabahah (Tawarruq) home financing
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Affin Islamic BankHigh confidence
Musharakah Mutanaqisah with a printed 10% ceiling and margins to 90% plus 5% is structurally one of the market's stronger Islamic mortgages, but the actual rental rate is quoted per case.
Named Shariah committee · est. 2006 · available across Malaysia · Musharakah Mutanaqisah (diminishing partnership)
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Public Islamic BankHigh confidence
Redraw, green preferential rates and First Home Guarantee participation with reference rates dated on the page, but the product spread itself is not printed.
Named Shariah committee · documented since 2022 · available across Malaysia · Islamic home financing with redraw and green preferential rates
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
CIMB IslamicHigh confidence
A full-flexi structure with 100% offset recognition of linked Mudarabah account balances, rare mechanics, but no indicative rate is printed on the page.
Named Shariah committee · documented since 2020 · available across Malaysia · Full-flexi Islamic home financing with Mudarabah offset account
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Standard Chartered SaadiqHigh confidence
Offset-style home financing where current-account cash reduces rental on up to 70% of the financing amount, but the effective rental rate is user-input rather than published.
Named Shariah committee · documented since 2000 · available across Malaysia · Offset-style Islamic home financing (contract per PDS)
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
MBSB BankHigh confidence
Named Tawarruq with ibra and no-compounding stated and MRTT financeable, including a My First Home Scheme-i track, but rate specifics stay in the PDS.
Named Shariah committee · documented since 2020 · available across Malaysia · Tawarruq property financing, variable rate
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
AmBank IslamicHigh confidence
Tawarruq named on-page with ceiling-rate protection and waived processing fees, but the spread over the reference rate is a quote, not a printed number.
Named Shariah committee · documented since 2022 · available across Malaysia · Tawarruq (commodity murabahah), variable rate
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Maybank IslamicHigh confidence
Fixed, tiered or variable pricing with ceiling protection and a stamp duty waiver on conversion from conventional loans, but no indicative rate is printed.
Named Shariah committee · documented since 2013 · available across Malaysia · Commodity Murabahah (Tawarruq) home financing with ceiling rate
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
HSBC Amanah MalaysiaHigh confidence
The full rate formula printed on the page, SBR plus 1.75% for a 4.50% effective lease rental with anytime deposits and withdrawals, the most complete mortgage disclosure in this cluster.
Shariah committee named via BNM list or reports · est. 2008 · available across Malaysia · Lease-rental flexible home financing (contract per PDS)
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
Al Rajhi Bank MalaysiaHigh confidence
Zero-entry-cost first-home financing with margin up to 100% plus 10% for costs under the SJKP government guarantee, though the rate itself is quoted per application.
Shariah committee named via BNM list or reports · est. 2006 · available across Malaysia · Commodity Murabahah (Tawarruq) with SJKP guarantee
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

Islamic Car Financing

Compare all islamic car financing options →

Ijarah and Diminishing Musharakah vehicle financing without conventional interest mechanics.

A
Bank Islam MalaysiaHigh confidence
A complete printed grid from 2.10% for EVs to 3.92% for older used cars with fixed selling price and ibra on early settlement, the vehicle pricing disclosure benchmark in Malaysia.
Named Shariah committee · est. 1983 · available across Malaysia · Fixed selling price Islamic vehicle financing with ibra'
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Public Islamic BankHigh confidence
The margin and duration schedule is published and the page documents the June 2026 move to Fixed Rate Reducing Balance under the new HPAA, but rates are quoted at application.
Named Shariah committee · documented since 2022 · available across Malaysia · Al Ijarah Thumma Al-Bai (AITAB) hire purchase
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
RHB Islamic BankHigh confidence
Variable-rate reducing balance with a Flexi Redraw variant that can cut total profit by up to half, but there is no printed rate grid.
Named Shariah committee · documented since 2015 · available across Malaysia · Islamic hire purchase (hire-and-purchase basis), variable rate reducing balance
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
CIMB IslamicHigh confidence
Fixed and variable hire-purchase variants each carry their own PDS, but current rates route to a linked page rather than printing on the product page.
Named Shariah committee · documented since 2020 · available across Malaysia · Islamic hire purchase, fixed or variable rate
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Maybank IslamicHigh confidence
AITAB with 90% margin printed and the Islamic hire purchase fee list linked, but term charge rates are not printed on the page.
Named Shariah committee · documented since 2013 · available across Malaysia · AITAB Islamic hire purchase (lease then sale)
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Hong Leong Islamic BankMedium confidence
AITAB hire purchase under Prof. Rusni Hassan's named committee, with rates via calculator and branch quotation and no printed pricing at all.
Named Shariah committee · est. 2005 · available across Malaysia · Al-Ijarah Thumma Al-Bai (AITAB) hire purchase
Score breakdown
Shariah integrity
34/35
Transparency
15/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
Bank Muamalat MalaysiaHigh confidence
A named Murabahah to the Purchase Orderer contract with 100% margin for army, government and pensioner segments, though the flat-rate schedule lives in the PDS.
Shariah committee named via BNM list or reports · est. 1999 · available across Malaysia · Murabahah to the Purchase Orderer (MPO)
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
Bank RakyatHigh confidence
Fees itemised down to the RM28.30 wakalah charge with no early settlement fee, but the profit rate is quoted at branch rather than published.
Shariah committee named via BNM list or reports · documented since 1978 · available across Malaysia · Tawarruq vehicle financing
Score breakdown
Shariah integrity
28/35
Transparency
12/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

Halal Investing

Compare all halal investing options →

Shariah-compliant unit trusts, ETFs, robo-advisors and gold investment options.

B+
Public MutualHigh confidence
Malaysia's largest private unit trust manager prints full PHS fee tables, with the 0.375% Islamic money market fund the value pick against 1.50% plus 5.0% sales charge equity funds.
External Shariah adviser oversight · documented since 1997 · available across Malaysia
Score breakdown
Shariah integrity
28/35
Transparency
9/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Principal Asset ManagementHigh confidence
The DALI fund's 562% since its 1998 launch is the track record story; the Islamic Money Market Fund at 0.40% with no application fee is the value story, under Amanie Advisors.
External Shariah adviser oversight · documented since 1998 · available across Malaysia
Score breakdown
Shariah integrity
28/35
Transparency
9/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
AHAM Asset ManagementHigh confidence
The Aiiman Money Market Fund at 0.50% with no sales charge, running since 2008 under Amanie Advisors oversight, though the equity flagship carries up to a 6.50% entry charge.
External Shariah adviser oversight · documented since 2002 · available across Malaysia
Score breakdown
Shariah integrity
28/35
Transparency
9/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Eq8 CapitalHigh confidence
Asia's first Shariah ETF (listed 2008) and the cheapest certified halal building blocks in Malaysia at a printed 0.40% management on Bursa-listed index funds.
External Shariah adviser oversight · documented since 2008 · available across Malaysia
Score breakdown
Shariah integrity
28/35
Transparency
9/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
Kenanga InvestorsHigh confidence
One of Malaysia's oldest Shariah fund shelves (SyariahEXTRA since 1996) with a published committee, but management fees of 1.20% to 1.50% price it above the ETF and robo alternatives.
Named-scholar oversight · documented since 1996 · available across Malaysia
Score breakdown
Shariah integrity
23/35
Transparency
14/20
Cost / value
6/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
BIMB InvestmentHigh confidence
Bank Islam's Islamic-only manager, running Shariah mandates exclusively since 1994, but the flagship charges 1.50% management plus up to 5.00% sales charge with no cheap share class.
External Shariah adviser oversight · est. 1994 · available across Malaysia
Score breakdown
Shariah integrity
28/35
Transparency
9/20
Cost / value
6/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B-
StashAway MalaysiaAwaiting verified dataHigh confidence
A Shariah global portfolio endorsed by SC-registered Masryef Advisory at printed 0.2% to 0.8% tiered fees with no minimum, cheaper than every unit trust on this shelf.
Named-scholar oversight · est. 2017 · available across Malaysia
What we're missing to score higher:
- Board members / scholars not named
Recently verified Aug 2026
B-
Maybank Asset ManagementAwaiting verified dataMedium confidence
The Maybank Malaysia Sukuk Fund at a printed 0.35% is genuinely cheap, but no scholar names are published for the funds, thin governance disclosure for a flagship house.
No public Shariah review · available across Malaysia
What we're missing to score higher:
- No public Shariah review on file
- Board members / scholars not named
- Founding year not on file
Recently verified Aug 2026
B-
Wahed Invest MalaysiaAwaiting verified dataMedium confidence
A halal-only SC-licensed robo at a printed 0.79% all-in below RM500,000, but the Malaysian pages publish no local scholar names, weak disclosure for a compliance-first brand.
No public Shariah review · available across Malaysia
What we're missing to score higher:
- No public Shariah review on file
- Board members / scholars not named
- Founding year not on file
Recently verified Aug 2026

Islamic Retirement

Compare all islamic retirement options →

EPF Simpanan Shariah and Shariah-compliant Private Retirement Scheme funds.

B+
EPF (KWSP)High confidence
The statutory Shariah election inside Malaysia's national provident fund: no direct member fee, section 43A statutory grounding and SAC endorsement, with dividends declared annually on actual portfolio performance.
Statutory Shariah governance framework · documented since 1991 · available across Malaysia
Score breakdown
Shariah integrity
28/35
Transparency
9/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
Public MutualHigh confidence
The PRS Islamic Growth Fund, running since 2012 with RM100 minimums under the SC's PRS framework, though 1.50% management plus up to 3.0% sales charge is full-price retirement saving.
External Shariah adviser oversight · documented since 1997 · available across Malaysia
Score breakdown
Shariah integrity
28/35
Transparency
9/20
Cost / value
6/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026

Takaful

Compare all takaful options →

Family and general takaful operators licensed by Bank Negara Malaysia under IFSA 2013.

A
AIA PUBLIC TakafulHigh confidence
One of the strongest scholar benches in Malaysian takaful, and the brochure prints the full wakalah fee ladder, 60% in year one falling to 0% from year seven, disclosure most operators avoid.
Named Shariah committee · est. 2011 · available across Malaysia
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Prudential BSN TakafulHigh confidence
Entry pricing printed from RM50 a month plus EPF i-Lindung distribution make it the most accessible operator for lower-income Malaysians, under a named five-scholar committee.
Named Shariah committee · est. 2006 · available across Malaysia
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
FWD TakafulHigh confidence
Microtakaful from a printed RM2.03 a month with up to RM80,000 death and TPD cover, under a published six-scholar committee including the sitting Mufti of the Federal Territories.
Named Shariah committee · est. 2006 · available across Malaysia
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Takaful MalaysiaHigh confidence
Malaysia's first takaful operator, incorporated 1984 and Bursa-listed since 1996, with a named five-scholar advisory body and published discounts, though contributions are quote-based.
Named Shariah committee · est. 1984 · available across Malaysia
Score breakdown
Shariah integrity
34/35
Transparency
19/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Takaful IKHLASHigh confidence
MNRB's retail takaful arm (family entity registered 2002) publishes audited fund-level wakalah and surplus figures plus a self-service surplus portal, though only the committee chairman is named on file.
Named Shariah committee · est. 2002 · available across Malaysia
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Great Eastern TakafulHigh confidence
Governance disclosure done properly, every committee member published with exact appointment dates, but contributions and even wakalah fees are illustrated only at quote time.
Named Shariah committee · est. 2010 · available across Malaysia
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Sun Life Malaysia TakafulHigh confidence
A five-scholar committee published with full bios and appointment dates; pricing is online quote-based with published benefit ceilings to RM3 million annual medical.
Named Shariah committee · documented since 2021 · available across Malaysia
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Hong Leong MSIG TakafulMedium confidence
Printed entry prices, RM75 a year for Tenang 75 and from RM1,200 a year for i-Tulus, under a named five-scholar committee, though the operator's founding date is not on file.
Named Shariah committee · available across Malaysia
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
2/10
Verified data
20/20
Recently verified Aug 2026
A-
Etiqa TakafulMedium confidence
The disclosure leader in Malaysian takaful: published medical contribution rates, a 10% online renewal discount, and an honestly published July 2026 wakalah fee rise to 60% on houseowner cover.
Named Shariah committee · available across Malaysia
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
2/10
Verified data
20/20
Recently verified Aug 2026
B
Zurich TakafulMedium confidence
Twin family and general licensees under one published six-scholar committee, with a benefit stack to 400% of sum covered, but pricing is quote-based and no founding date is on file.
Named Shariah committee · available across Malaysia
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
8/15
Track record
2/10
Verified data
20/20
Recently verified Aug 2026
B-
AmMetLife TakafulAwaiting verified dataLow confidence
The AmBank-MetLife family takaful licensee keeps its committee names in annual reports rather than on its pages, with quote-based pricing and only the benefit structure published.
Shariah committee claimed, roster not published · available across Malaysia
What we're missing to score higher:
- Shariah board claim lacks published evidence
- Board members / scholars not named
- Founding year not on file
Recently verified Aug 2026

Personal Financing

Compare all personal financing options →

Tawarruq cash financing from Islamic banks, at published rates without conventional interest.

A
Bank Islam MalaysiaHigh confidence
Full package tier disclosure from 5.00% for government staff to a printed 21.00% worst case: the whole pricing truth on one page.
Named Shariah committee · est. 1983 · available across Malaysia · Fixed selling price Islamic personal financing, SBR-referenced floating rate
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
RHB Islamic BankHigh confidence
Printed variable rates from 5.25% for civil servants and an honest 14.00% private-sector floor, with board and promotional payment tables published.
Named Shariah committee · documented since 2015 · available across Malaysia · Islamic personal financing for government employees, variable rate
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
CIMB IslamicHigh confidence
Civil-servant financing from a printed 3.50% fixed with ANGKASA deduction and a published ibra calculator, plus Islamic cards with printed rebate schedules.
Named Shariah committee · documented since 2020 · available across Malaysia · Salary-deduction Islamic personal financing for civil servants
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Alliance Islamic BankHigh confidence
An advertised 4.99% promotional floor with approval in minutes and 24-hour disbursement, though effective rates and tenure bands sit in the PDS.
Named Shariah committee · documented since 2020 · available across Malaysia · Islamic personal financing (contract per PDS)
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
AmBank IslamicHigh confidence
Flat and effective rates printed side by side, 3.45% flat translating to 6.21% to 6.51% effective, among the most honest personal financing pages in Malaysia.
Named Shariah committee · documented since 2022 · available across Malaysia · Tawarruq (commodity murabahah), fixed rate
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
Maybank IslamicHigh confidence
Printed fixed tiers of 9% to 11% by amount with no processing fee and no early settlement charge: simple and honest, if not cheap.
Named Shariah committee · documented since 2013 · available across Malaysia · Islamic personal financing (contract not named on page)
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A
MBSB BankHigh confidence
Formula, effective rate, flat equivalent, ceiling and a full payment table all printed, the fullest floating-rate disclosure in Malaysian personal financing.
Named Shariah committee · documented since 2020 · available across Malaysia · Tawarruq personal financing, floating rate
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Hong Leong Islamic BankHigh confidence
Amounts, income floors and optional five-year Takaful cover printed, but the rate itself is quote-based via calculator and PDS.
Named Shariah committee · est. 2005 · available across Malaysia · Tawarruq personal financing
Score breakdown
Shariah integrity
34/35
Transparency
18/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
A-
Public Islamic BankHigh confidence
Biro Angkasa salary-deduction financing to RM350,000 with no guarantor under a fully profiled committee, though rates are not printed on the page.
Named Shariah committee · documented since 2022 · available across Malaysia · Salary-deduction Islamic personal financing for government employees
Score breakdown
Shariah integrity
34/35
Transparency
17/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
HSBC Amanah MalaysiaHigh confidence
The fullest effective-rate education in the cluster, a printed flat-to-effective matrix from 3.88% flat, with no processing and no early-settlement fees.
Shariah committee named via BNM list or reports · est. 2008 · available across Malaysia · Islamic personal financing, fixed flat rate (contract per PDS)
Score breakdown
Shariah integrity
28/35
Transparency
13/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
AgrobankHigh confidence
Formula pricing printed from SBR plus 2.23% with the ceiling stated: genuine mandate lending for the agriculture economy with real rate transparency.
Shariah committee named via BNM list or reports · documented since 2015 · available across Malaysia · Islamic personal financing, SBR-linked (contract per PDS)
Score breakdown
Shariah integrity
28/35
Transparency
12/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B+
Bank RakyatHigh confidence
The disclosure benchmark for Malaysian personal financing: a complete rate matrix by payment method, tenure and takaful status, from 3.42% fixed for salary deduction.
Shariah committee named via BNM list or reports · documented since 1978 · available across Malaysia · Tawarruq personal financing, fixed or floating
Score breakdown
Shariah integrity
28/35
Transparency
12/20
Cost / value
15/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B
AEON BankHigh confidence
A fully digital journey open to gig and commission income from RM2,500 a month with instant disbursement, but the profit rate is disclosed only at offer.
Shariah committee named via BNM list or reports · documented since 2022 · available across Malaysia · Islamic digital personal financing (contract per PDS)
Score breakdown
Shariah integrity
28/35
Transparency
12/20
Cost / value
8/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B-
Bank Muamalat MalaysiaAwaiting verified dataMedium confidence
Six Cash-i variants with honest risk-based pricing language, but the rate is set at approval and no guidance numbers are published.
Shariah committee named via BNM list or reports · est. 1999 · available across Malaysia · Islamic personal financing (contract per PDS)
What we're missing to score higher:
- Board members / scholars not named
- No published rates or fees on file
Recently verified Aug 2026

Islamic Estate Planning

Compare all islamic estate planning options →

Wasiat writing, hibah and Islamic trust services that respect Faraid distribution.

B
as-Salihin TrusteeMedium confidence
The specialist with the best governance disclosure of the trio, a published four-scholar Shariah Advisory Board and a full Islamic toolkit since 2004, though no pricing is published.
Named-scholar oversight · est. 2004 · available across Malaysia · Specialist Islamic estate planning trust company
Score breakdown
Shariah integrity
32/35
Transparency
11/20
Cost / value
4/15
Track record
10/10
Verified data
20/20
Recently verified Aug 2026
B-
Wasiyyah ShoppeAwaiting verified dataLow confidence
The hibah specialist (est. 2004) with court-recognised digital instruments and about 100,000 customers self-reported, under an in-house panel whose members are not named, with no published pricing.
Shariah committee claimed, roster not published · est. 2004 · available across Malaysia · Shariah-compliant trust company for hibah and estate planning
What we're missing to score higher:
- Shariah board claim lacks published evidence
- Board members / scholars not named
- No published rates or fees on file
Recently verified Aug 2026
B-
AmanahRayaAwaiting verified dataMedium confidence
The government-owned public trustee with a century of estate administration and court-gazetted officers, but no published pricing and no named Shariah committee for the wasiat service.
No public Shariah review · available across Malaysia · Government-owned trustee wasiat and estate service
What we're missing to score higher:
- No public Shariah review on file
- Board members / scholars not named
- No published rates or fees on file
Recently verified Aug 2026

How the grades work

Pillar	Points	What we measure
Shariah integrity	35	Strength of oversight: formal Shariah board (strongest) → third-party certification → named scholar → no public review (weakest). Claims require published evidence; an unsubstantiated “formal board” scores at the named-scholar tier.
Transparency	20	Are the board members named? Is the oversight detail published? Are real fee and rate numbers in plain sight? Plus data completeness: the more of their profile a provider shares, the more they earn. Disclosure always beats silence.
Cost / value	15	Pricing transparency, not price level: publishing actual rates, spreads, fees or expense ratios scores; pointing customers to an unpublished fees schedule does not. Where nothing numeric is on file the pillar scores a conservative floor and is flagged.
Track record	10	A legitimacy check, not a longevity contest: at least a year in operation earns full marks. Decades in business don't add points, but brand-new pop-ups and undisclosed founding dates can't hold a top score.
Verified data	20	How recently our editorial team verified the provider's data against its published pages and documents. The credit decays when verification goes stale, so a strong grade cannot coast on old data. Coverage is displayed but never scored.
Editor's pick	4	Positive-only editorial points for real, documented benefits no rubric can quantify. Awarded only with a published rationale. A perfect 100 requires it, but an A doesn't.

Letter scale

A 90+ · A- 85+ · B+ 78+ · B 70+ · B- 0+. B− is the floor: it means we don't yet have enough verified information to score the provider higher, not that the provider is bad. Floor-tier rows show what's missing instead of a numeric score. Products with structural red flags, such as undisclosed riba, are removed from the Index rather than graded.

Verified data decays

Verified data is worth 20 points, a fifth of the grade. Past 30 days without re-verification the credit decays (minus 8, then minus 14 at 60 days, minus 20 at 90) until the data is confirmed again, so stale data cannot keep a strong grade.

The Index is an editorial transparency rating, not a religious ruling or financial advice. Grades are computed from HalalWallet's provider registry, reviewed before publication, and recomputed when the underlying data changes. Confidence labels reflect how complete a provider's verified data is. Providers cannot pay for a grade. See our methodology for how the registry itself is built.

Frequently Asked Questions

How to cite this page

Preferred format:

HalalWallet. “The Halal Money Index.” HalalWallet, https://www.halalwallet.asia/halal-money-index. Accessed 2026-08-13.

For time-sensitive claims (rates, fees, state availability), please verify directly with the provider's official documentation and note the retrieval date.

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.