Is MBANK (Maybank Islamic) halal?

Q: Is MBANK (Maybank Islamic) halal?

HALAL: Islamic-banking subsidiary, but parent-group screen is affected by conventional banking. Maybank's March 31, 2026 quarterly report shows MYR 1,054,398.713 million of consolidated assets, MYR 3,269.070 million of net interest income and a separate Islamic Banking Scheme. The quantitative parent-group screen therefore fails conservatively, while Maybank Islamic's product-level Sharia governance remains a distinct qualitative consideration.

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MBANK

Maybank Islamic

HALAL — SCREEN DOES NOT PASSstock

Is MBANK Halal?

Islamic-banking subsidiary, but parent-group screen is affected by conventional banking.

What You Should Know

Maybank's March 31, 2026 quarterly report shows MYR 1,054,398.713 million of consolidated assets, MYR 3,269.070 million of net interest income and a separate Islamic Banking Scheme. The quantitative parent-group screen therefore fails conservatively, while Maybank Islamic's product-level Sharia governance remains a distinct qualitative consideration.

⚠️ Concerns

•Conventional banking is a core parent-group activity
•Conservative debt and receivables mappings are not designed for banks
•Islamic subsidiary and listed-parent conclusions should not be conflated

Current quantitative Sharia screen

Based on Q1 quarterly report figures for the period ended 2026-03-31; calculated 2026-07-14.

MYR · millions

Interest-bearing debt / assets

80.33%Above limit

Below 33.333% under FTSE Yasaar

847,029.574 / 1,054,398.713

Cash + interest-bearing securities / assets

29.84%Within limit

Below 33.333% under FTSE Yasaar

314,590.845 / 1,054,398.713

Receivables + cash / assets

72.88%Above limit

Below 50% under FTSE Yasaar

768,451.873 / 1,054,398.713

Non-compliant income / revenue

47.13%Above limit

No more than 5% under FTSE Yasaar

3,269.07 / 6,936.32

Methodology	Financial	Overall	What drives it
FTSE Yasaar v4.6, February 2026	Fails	Fails	Debt/assets is 80.33%, liquidity/assets is 5.63%, receivables plus cash/assets is 72.88% and net interest income/revenue is 47.14%; the bank mapping and conventional activity both fail the examined screen.
MSCI Islamic (total-assets series) October 2024 methodology	Fails	Fails	Conservative debt/assets and receivables plus cash/assets exceed the examined MSCI limits; the parent also has conventional banking activity.
Malaysia SAC financial ratios single 5% activity benchmark adopted November 2025	Fails	Fails	Debt/assets and receivables/liquidity mapping exceed the examined Malaysia limits and consolidated net interest income is material; this is not an official SAC classification.
Market-cap denominator methods MSCI M-Series, S&P and Dow Jones methods differ	Not calculated	Fails	Historical market-cap inputs are not stored; the consolidated conventional-bank activity and asset-based failures remain material.

FTSE Yasaar

v4.6, February 2026

Financial: Fails
Overall: Fails

Debt/assets is 80.33%, liquidity/assets is 5.63%, receivables plus cash/assets is 72.88% and net interest income/revenue is 47.14%; the bank mapping and conventional activity both fail the examined screen.

MSCI Islamic (total-assets series)

October 2024 methodology

Financial: Fails
Overall: Fails

Conservative debt/assets and receivables plus cash/assets exceed the examined MSCI limits; the parent also has conventional banking activity.

Malaysia SAC financial ratios

single 5% activity benchmark adopted November 2025

Financial: Fails
Overall: Fails

Debt/assets and receivables/liquidity mapping exceed the examined Malaysia limits and consolidated net interest income is material; this is not an official SAC classification.

Market-cap denominator methods

MSCI M-Series, S&P and Dow Jones methods differ

Financial: Not calculated
Overall: Fails

Historical market-cap inputs are not stored; the consolidated conventional-bank activity and asset-based failures remain material.

Business-activity disclosure

Maybank is a universal banking group. Its Islamic Banking Scheme is substantial, but the parent also operates conventional banking and reports consolidated net interest income.

Limitation: The filing does not allocate every customer, treasury, derivative, insurance and fee activity into a school-neutral prohibited-revenue taxonomy.

Purification

The filing discloses net interest income, but no scholar-approved purification percentage is inferred from it. Consult a qualified scholar for any purification decision.

Inputs, assumptions and primary sources

Amounts are MYR millions converted from the Q1 2026 report's MYR thousands.
The consolidated group includes conventional banking, Maybank Islamic and insurance/takaful; deposits, repos, borrowings, subordinated obligations and capital securities are mapped conservatively as interest-bearing funding.
Net interest income is MYR 3,269.070 million and total operating income is MYR 6,936.320 million; the Islamic Banking Scheme statement is not treated as the consolidated group's full activity.
Bank balance sheets are not directly comparable to non-financial-company screens; this is a conservative calculation, not an official index classification.

Malayan Banking Berhad / Singapore Exchange: Malayan Banking Berhad first quarter 2026 quarterly report FTSE Russell: FTSE Yasaar Global Equity Shariah Index Series Ground Rules MSCI: MSCI Islamic Index Series Methodology Securities Commission Malaysia: Shariah-Compliant Securities Screening Methodology

This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.

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