A subsidiary of Alliance Bank Malaysia Berhad (ABMB), Alliance Islamic Bank Berhad (AIS) is well-positioned to tap the huge potential in the Islamic banking industry in Malaysia. The subsidiary is helmed by Tuan Haji Yahya Ibrahim following the successful development of the Islamic banking division under ABMB previously.

AIS, with its holistic banking scope, focuses on consumer banking, commercial banking and SMEs to grow the business. It leverages on existing conventional banking sales and distribution channels to market and promote its products and services. This also presents a unique opportunity for Alliance Financial Group to focus and grow the Islamic investment banking segment especially in the wealth management and capital market sectors.

Among its portfolio, AIS is offering Alliance i-Wish Home Flexi, Malaysia's first Islamic deposit-linked home financing facility which allows Malaysians to own their homes faster, and Alliance CashVantage Personal Financing-i, a new two-tiered personal financing that offers 35% lower repayment for the first year.

On the wealth management front, the Alliance Dana Adib Fund and Alliance Islamic Money Market Fund were ranked top 10 in the world in the Islamic funds category by Eurekahedge, the world's largest independent hedge-fund research company, in 2006.

AIS has a team of dedicated personnel that are trained to offer financial advisory services to customers in accordance with Islamic and Shariah principles.

With AIS established, the Alliance Financial Group will be able to explore opportunities for strategic tie-ups and to introduce new Islamic banking and financial products for sustainable long-term growth. This is very much in line with the Group's overall business strategic plan to ensure 'Banking (is) Made Personal'.