Public Islamic Bank Berhad, a wholly-owned subsidiary of Public Bank commences operations on 1 November 2008.

With the commencement of the new entity, the Islamic banking business of Public Bank which has been conducted through the window concept will be transferred to Public Islamic Bank Berhad.

Public Bank started offering Islamic banking products and services since 1993. Due to the fast pace development and growing acceptance by both Muslim and non-muslim customers, a wide range of Shariah-compliant products and services have been introduced.

Islamic banking financing products are being offered at a very competitive terms. There are ABBA Home Plan packages for home financing, ABBA Swift and ABBA Smilax packages for financing the purchase of shophouses, warehouses and industrial properties. AITAB hire purchase-i is offered for financing the purchase of motor-vehicles. An overdraft facility or Cash Line Facility-i offered to customers who require a short-term financing plan. Public Islamic Bank is also actively promoting BAE Personal Financing-i to selected government's agencies and corporations.

For deposits and investment accounts we offered various types of deposits accounts such as Wadiah Savings account-i, Wadiah Current account-i, Bestari Mudharabah Savings accounts-i and Mudharabah General Investment account-i.

With the establishment of Public Islamic Bank Berhad which operates under Islamic Banking Act, 1983, we will be able to undertake a wider variety of products and services and explore opportunities in Islamic capital market.

Public Islamic Bank has the competitive advantage in reaching out to customers through its large network of 242 Public Bank branches across the nation.

Public Islamic Bank's products and services are Shariah-compliant. The Public Islamic Bank's operations are supervised by 3 independent Shariah Committees. All our Islamic banking products, services and transactions are developed in consultations with Shariah Committee and approved by them.