The Difference Between Bank Islam Malaysia Berhad (BIMB) and Bank Rakyat

The Difference Between Bank Islam Malaysia Berhad and Bank Rakyat

Question:

What is the difference between Bank Islam Malaysia Berhad (BIMB) and Bank Rakyat?

Answer:

The main difference between these two banks are its legal structure.

Bank Rakyat is a cooperative bank practising Islamic contracts, while Bank Islam is a full fledged Islamic bank.

However, both banks offer only Islamic products and has their own Shariah Board.

Photo: bankislam.com.my & bankrakyat.com.my.

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