2.

0 RESEARCH

2.1 Islamic Product

Products categorised as Islamic are those that comply to the rules of Shariah, or Islamic law.
They cover a wide range of industries, including insurance, banking, finance, food and drink,
pharmaceuticals, cosmetics, personal care, and more. Here are a few instances of Islamic
goods that may be found in Malaysia such as products for Islamic banking: These are
financial goods that abide by the prohibitions of interest, uncertainty, and gambling included
in Shariah. Savings accounts, term deposits, auto and home loans, vehicle loans, and
Takaful (Islamic insurance) are a few examples, Affin Islamic Bank, Al Rajhi Bank, Alliance
Islamic Bank, AmBank Islamic, Bank Islam, Bank Muamalat, CIMB Islamic, Hong Leong
Islamic, HSBC Amanah, Kuwait Finance House, Maybank Islamic, MBSB Bank, OCBC Al-
Amin, Public Islamic Bank, RHB Islamic Bank, and Standard Chartered Saadiq.
Furthermore, Islamic food and drink: These are foods and drinks that Shariah permits, or
that fall under the halal category. They don't include any alcohol, pork, or other prohibited
items. They are also legally and hygienically prepared and processed. Meat, poultry, dairy,
fruits, vegetables, grains, spices, snacks, beverages, and more are a few examples.
Malaysia is home to a large number of halal-certified producers, suppliers, and distributors of
Islamic food and drink items.

2.2 Types of Services

One area of the financial sector that adheres to Shariah law and principles is Islamic banking
and finance. It provides a range of contracts, services, and products that set it apart from
traditional banking. Several prevalent categories of Islamic goods and services include
Current and savings accounts: These are deposit accounts that let users save and make
financial transactions in a way that complies with Shariah. They may provide profit-sharing or
safeguarding benefits but do not entail interest. Apart from that, financing is the provision of
money for private or commercial uses, including purchasing a vehicle, a home, or growing a
business. Islamic finance does not entail interest or undue uncertainty and is based on
actual sales transactions, joint partnerships, or profit-sharing agreements.
 2.3 Selection

From among the banks that have previously been listed, Hong Leong Islamic was chosen.
Hong Leong Islamic offers a wide range of Shariah-compliant products and services,
including investment banking, deposits, lending, wealth management, and Takaful, to both
individual and corporate clients. This suggests that a single Shariah-compliant Islamic bank
can meet a range of financial requirements. Its products and services also benefit from
cross-border accessibility and offer advantages. This is because Hong Leong Islamic is the
largest Islamic banking player in the Asia Pacific region, with a vast network of branches and
touch points throughout Malaysia and other countries like Dubai, Indonesia, Singapore,
Hong Kong, London, and Labuan.