Many organizations have lost business opportunities due to poor ‘Knowledge Management’ (KM) practice. Poor documentation on workflows, procedures and processes together with an inability to retain critical Human Capital are cited as the most common problems for such organizations. The purpose of this study is to explore the importance of the KM in the Banking Industry in Malaysia and recommend a new KM model that will allow both the explicit and tacit knowledge to be identified, retained and levered off.  At its core the new KM Model will emphasize retaining human capital as the key strength of an organization and to inculcate a knowledge-sharing and performance-driven workforce for the betterment, prosperity, and sustainability of an organization. The success of the Knowledge Management process always depends on how well the organizational culture allows for knowledge and experience sharing. The organizational leaders need to be the champions of KM; so that the employees will be committed to sharing knowledge. The IT infrastructure must provide a workable common platform that captures, distributes and allows for the application. To ensure success and to bridge the gap between the people and the infrastructure, the organization needs to identify KM Model owner along with KM working groups at all levels in the organization. A living case study will be carried out at Bank Muamalat Malaysia Berhad (BMMB) to examine the familiarity of Knowledge Management concept and the acceptance level of knowledge-sharing workforce. The empirical data will be collected via questionnaires and with a few of interviews. The survey population will include all departments and job ranks that are from lower management to middle management and top management. The survey questionnaires will also send to different banks for collecting other banks perspectives with regards to Knowledge Management.