Bank Negara Malaysia wishes to announce that the Minister of Finance has granted an approval to Elaf Bank B.S.C (c) (Elaf Bank) to conduct an international Islamic banking business in Malaysia pursuant to Islamic Banking Act 1983. Elaf Bank is allowed to conduct a wide array of Islamic banking business in international currencies other than Malaysian ringgit.

Elaf Bank's presence will further strengthen the economic and financial linkages between Malaysia and Bahrain and contribute further to the development of the Islamic financial system in Malaysia.