KUALA LUMPUR: The Father of Malaysian Islamic Banking, Datuk Dr Abdul Halim Ismail, passed away at the age of 85 this morning (Oct 20).
The news was confirmed through a post on Bank Islam Malaysia Bhd's official Facebook page today.
According to the bank, Abdul Halim who was the first managing director of Bank Islam, was a visionary leader who built the foundation of Islamic finance in Malaysia.
His dedication and pioneering spirit played an important role in shaping the journey of Bank Islam as well as leaving a lasting impact on the development of Malaysia's Islamic finance industry.
"As the pioneer of Bank Islam, he not only took on the challenge of introducing a new banking system, but also led us with wisdom and great vision.
"His leadership was very important in realising dreams, with countless contributions that will always be a fundamental marker of our development," according to Bank Islam.
Bank Islam said his legacy was not only limited within the walls of Bank Islam, but also extended to the lives of many who benefited from his efforts to fight for Islamic finance and enable the entire community to access the necessary financial solutions.
"This includes the takaful industry, Islamic trust fund management, stock broking and others," it said.
In addition to his professional achievements, it said Abdul Halim was known for his brave nature, high integrity, humility and was always concerned about community service.
"In fact, he is the initiator of Sadaqa House Bank Islam which has currently benefited thousands of deserving recipients.
"We express our condolences to his family and loved ones," it said.
Born on Jan 28, 1939 in Kedah, Abdul Halim obtained his early education at the Simpang Empat Malay School. He continued his studies at the Al-Maahad Al-Mahmud (Mahmud College) (in Kedah).
He was then transferred to the Sultan Abdul Hamid College (SAHC) to continue his Form Six education from 1960-1961 before pursuing his studies at the University of Malaya and in 1965 graduated with a Bachelor of Arts degree in Economics.
In 1966, he went to the University of Oxford to obtain a Doctor of Philosophy (PhD) in Economics, according to Merdeka Award Trust.
The trust said Abdul Halim's pivotal moment came in 1983 when he was appointed as the first Bank Islam managing director, Malaysia's pioneering Islamic bank.