Maybank grows stronger

According to Malaysia-based Maybank more than 8, 500 corporations use Islamic internet-based cash management financial portal Maybank2e.net to access online zakat payment service, but it is expected that within the next 12 months 120 more will join. Zakat is a kind of obligation on Muslims who should pay 2.5 % of their income to some society categories after their annual revenue exceeds the minimum level.

Financial portal Maybank2e.net provides a wide range of services including Payroll, EPF, SOCSO and zakat services, inter and intra bank payments via RENTAS, loan payments, account enquiries, cheque management, reconciliation, trade finance, custody services, merchant settlement reports, eDividend, eCollection and online management reports.

As per estimations starting from July 2007 Maybank2e.net  processed about 21 million transaction with total amount EUR 106 billion.

All payments are legal and certified with various certificates and agreements. So, Maybank has a signed agreement with the Wilayah Persekutuan Islamic Religious Council's Zakat Collection Centre, the Selangor Zakat Board and the Negeri Sembilan Zakat Centre which authorize Maybank2e.net to conduct transactions of online zakat payment.