Islam
“Can Bank Islam become the infrastructure layer for Shariah-compliant embedded finance across Southeast Asia and beyond through its BaaS pivot?”
HQKuala Lumpur, Malaysia
IndustryBank / National
The story
Bank Islam Malaysia Berhad is a fully Shariah-compliant Islamic bank operating in Malaysia under a national banking license. In recent years, the bank has pivoted toward digital and embedded finance, partnering with core banking platform Mambu, credit bureau Experian, and POD to build digital banking infrastructure. In 2025, its holding company BIMB Holdings formed a joint venture with Relydyn Tech to launch FINODYN, positioning Bank Islam as a provider of Islamic Banking-as-a-Service solutions to third-party platforms and fintechs.
Product timeline
2025
BIMB Holdings (wholly owned subsidiary of Bank Islam) entered a strategic joint venture with Relydyn Tech to establish FINODYN, a technology financial entity focused on Shariah-compliant digital finance and Banking-as-a-Service.· banking
Regulated entities
Islamic Banking License
Malaysia (Bank Negara Malaysia)
Bank Islam Malaysia Berhad
The stack
Banking / BaaS
Accounting gap: none