Bank Islam Malaysia Berhad (Bank Islam) has partnered with global payment technology firm Mastercard to introduce the Bank Islam Mastercard Debit Card-i, a Shariah-compliant payment solution offering cashback and exclusive rewards for cardholders.
The launch on Thursday, marked by a four-day event at MyTOWN Shopping Centre, highlights Bank Islam’s commitment to financial inclusivity and ethical banking. Customers who hold both the Bank Islam Mastercard Debit Card-i and an Al-Awfar investment account can enjoy a one per cent cashback on eligible purchases, particularly in the health and wellness sector, until 31 August 2025.
Additionally, Al-Awfar account holders stand a chance to win prizes from a pool exceeding RM18 million annually. Rewards include RM1 million in cash, luxury vehicles such as the BMW 320i M Sport and Honda HRV, a Harley Davidson Road Glide Special motorcycle, a 1kg gold bar, and various cash prizes, with winners selected through regular lucky draws.
Mizan Masram, Group Chief Business Officer, Group Retail Banking of Bank Islam, underscored the significance of this initiative, stating, “The Al-Awfar programme embodies Bank Islam’s vision of empowering customers to achieve their aspirations while promoting financial inclusivity. By partnering with Mastercard, we are able to offer innovative solutions that blend rewards with convenience. The introduction of the Bank Islam Mastercard Debit Card-i is another step forward in providing our customers with exceptional benefits, a secure payment experience, and opportunities to contribute to sustainability initiatives.”
The Al-Awfar investment account, exclusive to Bank Islam, operates on the Mudarabah (profit-sharing) principle, ensuring that customers earn returns based on shared profits from the bank’s investments rather than fixed interest, making it fully compliant with Islamic financial principles.
Beena Pothen, Country Manager for Malaysia and Brunei at Mastercard, echoed this sentiment, stating, “The launch of the Bank Islam Mastercard Debit Card-i reflects Mastercard’s commitment to providing Shariah-compliant payment solutions that enhance banking experiences for Malaysians. It also demonstrates a shared vision with Bank Islam to co-create meaningful banking products that align with consumer values and needs, reinforcing a collective aim to drive innovation and make a positive contribution to the community.”
Beyond financial benefits, the initiative also incorporates a social impact element. For every Bank Islam Mastercard Debit Card-i issued from 13 February 2025, Bank Islam will donate RM2 to Sadaqa House, a social finance platform that mobilises philanthropic funds through sadaqah (voluntary charity), waqf (endowment), and zakat (tithe) to support various community initiatives in Malaysia.
As part of the promotional campaign, new customers who open an Al-Awfar account, deposit a minimum of RM1,000 in new funds, and apply for a Bank Islam Mastercard Debit Card-i will receive a mystery gift.
The Bank Islam Mastercard Debit Card-i is accepted globally at more than 100 million locations and offers secure online and contactless payment options, reinforcing Bank Islam and Mastercard’s commitment to delivering cutting-edge financial solutions tailored to the evolving needs of consumers in Malaysia. 
