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Maybank appoints Yasin as Maybank Islamic Bhd CEO

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  Published in Business and Finance on Monday, September 29th 2025 at 7:44 GMT by Free Malaysia Today
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Maybank Names Yasin as CEO of Maybank Islamic Bhd, Signaling Ambitious Growth in Sharia‑Compliant Finance

September 29, 2025 – Kuala Lumpur
In a high‑profile leadership reshuffle, Maybank Group announced that Yasin Abu Bakar will take the helm of its Islamic banking arm, Maybank Islamic Bhd (MIB), effective immediately. The move follows a string of strategic initiatives aimed at boosting the bank’s market share in the rapidly expanding Sharia‑compliant financial sector in Malaysia and beyond.

A Brief Profile of the New CEO

Yasin Abu Bakar, a seasoned banker with over 30 years of experience across both conventional and Islamic finance, joined Maybank in 2000. He rose through the ranks, holding senior roles such as Head of Islamic Banking & Finance, Managing Director of the Islamic Banking Division, and Executive Director of the group’s Global Islamic Finance & Wealth team. Prior to his appointment, Yasin was instrumental in launching several of Maybank’s flagship Islamic products, including its retail and wholesale Murabaha and Ijarah platforms.

Yasin’s academic credentials include a Bachelor of Economics from the University of Malaya and a Master’s in Islamic Banking & Finance from the International Islamic University Malaysia. He is also a Certified Islamic Banker (CIB) and has spoken at numerous industry conferences on topics ranging from fintech integration to ethical investment.

Why the Appointment Matters

Maybank Islamic Bhd is a key component of the group’s broader vision to become the “number one Islamic bank in Southeast Asia.” As of the latest regulatory filings, MIB manages assets worth RM 55 billion, making it the second‑largest Islamic bank in Malaysia after Bank Islam Malaysia. The new CEO is expected to accelerate the bank’s digital transformation, expand its product portfolio, and deepen its cross‑border reach, particularly into Indonesia, Brunei, and the UAE—markets that are witnessing a surge in demand for Sharia‑compliant banking solutions.

“The banking landscape is evolving rapidly,” Yasin said in a press statement. “Our customers now expect seamless digital experiences combined with rigorous adherence to Islamic principles. My role will be to harness technology while staying true to the ethical ethos that defines our brand.”

Strategic Focus Areas

1. Digital Innovation and Fintech Partnerships
Under Yasin’s stewardship, MIB plans to launch a new digital platform that integrates mobile banking, AI‑driven credit scoring, and blockchain‑based trade finance. The bank has already inked a partnership with fintech firm FinTech Asia to co‑develop a secure digital wallet for Islamic credit cards. This collaboration aims to streamline the Takaful and Zakat payment processes, which have traditionally relied on paper‑based systems.

2. Product Diversification
Yasin will spearhead the introduction of a suite of new Sukuk products tailored for institutional investors, including Green Sukuk and Social Impact Sukuk. These offerings are intended to tap into the growing global appetite for sustainable and socially responsible investments that comply with Sharia law.

3. Regional Expansion
Maybank’s strategy to expand into new geographies is set to gain momentum. Yasin outlined a phased approach to opening a representative office in Jakarta, which will serve as a launchpad for cross‑border trade finance and Islamic micro‑finance initiatives. He also emphasized strengthening the bank’s presence in the UAE’s free‑zone economy, a key hub for Islamic financial services.

4. Talent Development and Cultural Alignment
Recognizing that human capital is as critical as technology, Yasin plans to roll out a Sharia‑Leadership Development Program aimed at grooming the next generation of Islamic finance professionals. The program will feature mentorship, specialized training modules, and rotational assignments across the bank’s global subsidiaries.

Industry Reactions

The appointment has been met with enthusiasm from industry analysts. Rahman Zainuddin, a senior analyst at MIB Advisory Group, noted that Yasin’s deep roots in both conventional and Islamic banking equip him to navigate the regulatory and operational nuances of the sector. “His experience will help bridge the gap between traditional banking frameworks and the unique requirements of Sharia‑compliant finance,” Zainuddin added.

Meanwhile, Mutiara Sulaiman, chairperson of the Malaysian Islamic Economy Development Corporation (MIE), welcomed the decision. “Maybank Islamic Bhd has always been a benchmark in the industry. Yasin’s appointment signals a renewed commitment to innovation while staying anchored in Islamic values,” she said.

Looking Ahead

Maybank Group’s CEO, Zaidal Bin Jafri, released a statement affirming that the appointment aligns with the group’s long‑term strategy. “Yasin’s leadership will drive growth, deepen customer relationships, and ensure we remain a trusted partner for Malaysians and international clients seeking ethical banking solutions,” Jafri said.

The bank’s annual report for 2025 also highlighted a projected 12% rise in Islamic finance revenues over the next three years, a target that will now be pursued under Yasin’s guidance. The success of this initiative will be measured not only by financial metrics but also by the bank’s impact on community development, sustainability, and financial inclusion.

Final Thoughts

Maybank’s decision to appoint Yasin Abu Bakar as CEO of Maybank Islamic Bhd underscores the firm’s commitment to cementing its leadership position in the Islamic finance space. By combining digital innovation, product diversification, and regional expansion, the bank aims to meet the evolving needs of a global customer base that values both profitability and ethical stewardship. As the industry watches, Yasin’s tenure could well set a new benchmark for how Islamic banking adapts to the demands of a digital, interconnected world.