Public Islamic Bank Public Islamic Bank Visa Platinum Credit Card-i
Islamic Personal Financing in Kuala Lumpur
Public Islamic Bank's flagship Islamic credit card, described on the bank's card listing as 'based on Shariah principle of Commodity Murabahah via Tawarruq arrangement which refers to an arrangement that consists of two sale and purchase contracts'. The Islamic card shelf also includes the Platinum MasterCard Credit Card-i (a line of credit by way of Commodity Murabahah via Tawarruq), the Visa Gold Credit Card-i (1% cash back on online transactions) and the Gold MasterCard Credit Card-i, which automatically donates 0.1% of total dining transactions to Yayasan Waqaf every month (crawled publicislamicbank.com.my 2026-08-06).
Public Islamic's card shelf sells substance over sizzle: the Tawarruq double-sale structure explained in a sentence, and a Gold MasterCard that quietly tithes 0.1% of your dining bill to Waqaf every month. Rewards chasers will earn materially more at CIMB or RHB; customers who want their card's fiqh and philanthropy printed on the page will prefer this.
Pros
- Most explicit structural disclosure of any Islamic card listing in the cluster
- The Waqaf auto-donation feature is unique among the six banks
Cons
- Rewards economics are thin next to CIMB's 12% PETRONAS card or RHB's 10% online dining tier
- Detailed fees and income gates require opening each card's PDS
Ready to apply?
Visit Public Islamic Bank's website to learn more and get started.
See pricing & termsOpens Public Islamic Bank's site, no obligation
Product Details
Structure
tawarruq
Public Islamic Bank in Kuala Lumpur
Public Islamic Bank's Public Islamic Bank Visa Platinum Credit Card-i is available to Kuala Lumpur residents, using a tawarruq structure. The total selling price is fixed in the contract, and early settlement earns an ibra' (rebate) on unearned profit under BNM's rules. Public Islamic Bank operates across Malaysia, so Kuala Lumpur residents have full access to this product.
Our Take on Public Islamic Bank
Public Islamic Bank is the quiet value pick of the cluster: the best unconditional printed savings rate (ForU2Save 2.10%), the fastest route to a 2.00% term deposit (13 months), same-week rate sheets, and contract names baked into the product titles. Financing is the weak flank for a comparison shopper: pages are thin, with no printed product rates or margins, deferring everything to the PDS. Its personality mirrors its parent: conservative, precise, and understated to a fault.
How Public Islamic Bank Works
Open with modest minimums
CM Savings from RM250; Term Deposit-i from RM1,000 (2+ months) or RM5,000 (1 month); current accounts from RM3,000 with an introducer.
Pick the right variant
Ask for ForU2Save (2.10% first RM50,000) rather than the standard CM Savings; salary earners can use MySalary tiers to 1.00%.
Finance via PDS
Home, vehicle and personal financing pricing is disclosed in the PDS and at quotation; check the published financing rates page for the SBR (2.75%), BR (3.27%) and BFR (6.47%) benchmarks.
Financing Structure
Public Islamic runs Commodity Murabahah (Tawarruq) across deposits, with the mechanics governed by a published 5.00% Ceiling Profit Rate: the bank trades commodities at the ceiling-derived selling price and depositors earn the effective profit rate. Vehicle financing is AITAB (lease ending in sale), named in the product title. Financing contracts for home and personal products are documented in the per-product PDS.
In-Depth Analysis
Public Islamic Bank Berhad (company no. 197301001433) commenced operations on 1 November 2008 as Public Bank's wholly owned Islamic subsidiary, distributing through 260 Public Bank branches plus four full-fledged Islamic branches at Kg Baru, Putrajaya, Wakaf Siku and Jalan Kota (bank's own about page, crawled 2026-08-06).
Its deposit franchise is the cluster's best-kept secret. The ForU2Save variant prints 2.10% on the first RM50,000 with no salary-crediting or spending conditions, beating every standard adult savings rate in the market; the Term Deposit-i reaches 2.00% at 13 months where CIMB requires 36 for its 2.05%; and rate sheets carry effective dates as fresh as 5 August 2026, one day before our crawl. Behind it all sits a published 5.00% Ceiling Profit Rate that explains how the Tawarruq commodity trade prices, disclosure most banks skip entirely.
Financing is where the comparison shopper hits a wall: the Home Equity Financing-i page lists features (35-year tenures, redraw, green preferential rates, First Home Mortgage Guarantee Programme participation) but no rate, margin or contract name; AITAB Hire Purchase-i names its contract prominently but prices at quotation. The published Code of Ethics on Repossession and the HPAA 2026 transition notices show a bank that documents conduct even when it does not print prices.
Governance is strong on names: the Shariah Committee's full biographies are published, chaired by Dr. Shafaai bin Musa with members trained at Al-Azhar, IIUM, USIM, Exeter and INCEIF. The card shelf is small but distinctive, including a Gold MasterCard-i that automatically donates 0.1% of dining spend to Yayasan Waqaf monthly.
Shariah Compliance Details
- Shariah Committee with full published biographies, chaired by Dr. Shafaai bin Musa (publicislamicbank.com.my corporate governance page, crawled 2026-08-06)
- Full-fledged Islamic bank under IFSA 2013, wholly owned by Public Bank, operating since 1 November 2008 (crawled 2026-08-06)
- Ceiling Profit Rate (5.00%) published for Commodity Murabahah deposit pricing (crawled 2026-08-06)
- PIDM protection up to RM250,000 stated on individual deposit product pages (crawled 2026-08-06)
How Public Islamic Bank Compares
Against CIMB Islamic, PIB wins medium-term deposits (2.00% at 13 months vs 36) and freshness, loses cards and digital. Against RHB Islamic, PIB's unconditional 2.10% ForU2Save beats RHB's conditional 6.60% ceiling for most real savers, while RHB prints far more financing pricing. Against Maybank Islamic, PIB's rate sheets are current where Maybank's are stale, but Maybank's network and product breadth are in a different class.
Better cards, digital banking and payout flexibility on deposits; needs 36-month commitment to beat PIB's 13-month 2.00%.
Far richer printed financing pricing and a partnership mortgage option; savings yields need behavioural hoops PIB does not impose.
Matches PIB's 2.00% at 13 months with a lower RM500 entry, and adds page-level contract education; savings rates are weaker.
Bottom Line
The saver's bank of Malaysia's big six: 2.10% unconditional on the first RM50,000, 2.00% term deposits from 13 months, and Tawarruq mechanics disclosed down to the ceiling rate. Financing shoppers should extract the PDS numbers before committing, because the pages will not volunteer them.
Read full Public Islamic Bank reviewShariah Compliance & Oversight
Public Islamic Bank publishes full biographies of its Shariah Committee on its corporate governance page: Dr. Shafaai bin Musa (Chairman, appointed June 2022; Al-Azhar, IIUM and Glasgow Caledonian trained), Assoc. Prof. Dr. Syed Musa Syed Jaafar Alhabshi (November 2022), Assoc. Prof. Dr. Yasmin Hanani Mohd Safian (April 2024; Al-Azhar, Birmingham and Exeter trained), Assoc. Prof. Dr. Mohamad Zaharuddin Zakaria (USIM), and Hj. Abdul Rahman Mohd Yusoff (1 April 2025; INCEIF Teaching Fellow, former ISRA Consulting interim Deputy CEO) (publicislamicbank.com.my/personal-banking/about-us/corporate-governance/shariah-committee/, crawled 2026-08-06).
2026-08-06
Why It's Halal
The card listing page names the full structure: Commodity Murabahah via Tawarruq, two sale and purchase contracts creating a Shariah-compliant credit line, the same architecture CIMB migrated to in January 2026. The Gold MasterCard's automatic Waqaf donation on dining spend is an Islamic-native feature no other bank in this cluster prints. Oversight: Public Islamic Bank's named Shariah Committee chaired by Dr. Shafaai bin Musa (crawled publicislamicbank.com.my 2026-08-06).
Regional Availability
Public Islamic Bank serves all of Malaysia
✓ Available nationwide including Kuala Lumpur
Ready to apply?: Public Islamic Bank
Visit Public Islamic Bank's website to get current terms, check eligibility for Kuala Lumpur, and get started today.
See pricing & termsOpens Public Islamic Bank's site, you're not committing to anything
Compare With Other Options in Kuala Lumpur
20 other personal financing products available to Kuala Lumpur residents
Islamic digital personal financing (contract per PDS) · Nationwide
NationwideIslamic personal financing (contract per PDS) · Nationwide
NationwideTawarruq (commodity murabahah), fixed rate · Nationwide
NationwideFixed selling price Islamic personal financing, SBR-referenced floating rate · Nationwide
NationwideIslamic credit cards with published PDS and profit-rate notices · Nationwide
NationwideFrequently Asked Questions
What is Public Islamic Bank Public Islamic Bank Visa Platinum Credit Card-i?
Why is Public Islamic Bank Public Islamic Bank Visa Platinum Credit Card-i considered halal?
Is Public Islamic Bank Public Islamic Bank Visa Platinum Credit Card-i available in Kuala Lumpur?
What Shariah oversight does Public Islamic Bank have?
What financing structure does Public Islamic Bank Public Islamic Bank Visa Platinum Credit Card-i use?
How do I apply for Public Islamic Bank Public Islamic Bank Visa Platinum Credit Card-i in Kuala Lumpur?
Why is Kuala Lumpur central to Malaysian Islamic finance?
Who administers zakat in Kuala Lumpur?
Halal Finance Score
How halal are your finances? Check all 7 categories in under 2 minutes.
Average score: 63/100
Stay Updated
Get Islamic personal financing rate updates and new provider alerts
Free. No spam. Unsubscribe anytime.
Explore All Personal Financing in Kuala Lumpur
Compare every personal financing option side-by-side with filters, ratings, and Shariah oversight details.
Reviewed quarterly and updated for major content changes.
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.