Seizing the opportunity for further revenues from its international branch in Kuala Lumpur and the international remittances segment, Bank Muamalat executed a new approach to the market through the opening of new sales offices or Service Centre Outlets to draw in new savings customers. The bank has also extended its reach throughout the Malaysian market through partnerships with leading local banks to take advantage of their extensive branch network such as that of Maybank, Bank Muamalat Malaysia Berhad and National Commercial Bank. This strategic realignment has made international remittances a lucrative revenue source for the bank with a 250% rise in transaction frequency as well as value in 2012 in addition to the resulting fee based income.

Trade finance is a further element of Bank Muamalat’s portfolio of international banking services in order to provide clients with shariah compliant financial tools for their international business activities and support their business expansion. The bank’s longstanding experience in Islamic trade finance and shariah banking principles has facilitated the creation of innovative products that effectively bridge differing trade practices to assist in the importing and exporting of goods in addition to bank guarantees and letters of credit. The bank works closely with its clients to formulate tailored solutions while also continuously growing its network of partnerships with international and multilateral finance institutions. Trade finance volumes have increased dramatically to 10 trillion RP in 2012 up from 1.3 trillion in 2011 totalling 16.05 billion RP in revenue.