Bank Islam Malaysia has implemented Mastercard Move, a global money transfer solution that enables secure digital fund transfers within Malaysia and across borders through Mastercard’s network.
The service will be made available to corporate customers via the bank’s eBanker Pro platform in the third quarter of 2025.
It aims to simplify operations, optimise liquidity, reduce counterparty risk, and provide end-to-end visibility for businesses.
A cross-border service agreement was exchanged between Bank Islam and Mastercard at the recent Bank Islam Sustainability Conference.
Mastercard Move supports payments to over 200 countries in more than 150 currencies, offering trackable transactions, transparent fees, estimated delivery times, and flexible payout options including bank accounts, cards, digital wallets, or cash, depending on the market.
Mastercard Malaysia and Brunei Country Manager Beena Pothen said the collaboration aligns with national digital and economic goals, helping businesses and individuals move money more efficiently both locally and across borders.
Bank Islam’s Institutional Banking Chief Business Officer Sharifah Sarah added that the service will help customers complete Foreign Outward Telegraphic Transfers within 15 minutes.
In February 2025, the bank processed 3,919 cross-border transactions worth over RM169 million.
With the new solution, volumes are expected to grow by up to 20% this year, supported by faster processing, better rates, and improved security.
She added that the collaboration supports Bank Islam’s broader digital transformation and enhances its international banking capabilities.
Featured image: (From left) Bank Islam Group Chief Business Officer – Institutional Banking, Sharifah Sarah Syed Mohamed Tahir, Bank Islam Group CEO, Dato’ Mohd Muazzam Mohamed, Secretary General of the Ministry of Economy, Dato’ Nor Azmie Diron and Mastercard Malaysia Head of Financial Institution, Devesh Kuwadekar
