In Islam, Malik is a terrible angel who guards the Hellfire; he is the gatekeeper of Hell. This fits in with the theory that Alvar Hanso represents Hades, while Rachel Blake represents Melinoe, an Underworld goddess and the daughter of Persephone and Hades. As a gatekeeper, it's appropriate that Malick provides Rachel with a key. The fact that she strikes him with an iron can also be seen as symbolic.
He may be named after Joe Malik of The Illuminatus! Trilogy, as the creators of the show are confirmed to be at least partly influenced by Robert Anton Wilson. Joe Malik was a character who was playing multiple sides of a conflict, just as this Malick is.