What Is Interbank GIRO (IBG)?

Interbank GIRO (IBG) is Malaysia’s national electronic funds transfer system operated by Payments Network Malaysia Sdn Bhd (PayNet). It enables account-to-account credit transfers between 42 participating banks, supporting transfers from savings, current, loan/financing, and credit card accounts. IBG facilitates a wide range of transactions including salary payments, bill payments, loan repayments, and vendor payments.

IBG is a critical component of Malaysia’s payment infrastructure, providing a secure, efficient, and cost-effective method for domestic fund transfers.