Maybank Islamic expects customers to switch to investment account

KUALA LUMPUR: Maybank Islamic Bhd expects the bulk of its Mudarabah deposit account holders to reclassify their accounts to Mudarabah Investment Account (IA), in compliance with Bank Negara Malaysia's requirement.

He anticipated some 70-80 per cent of customers to make the switch as the IA was a compliance requirement arising from the central bank's Islamic Financial Services Act 2013.