Page 100 - Bank-Muamalat-AR2020

98 BANK MUAMALAT MALAYSIA BERHAD About Us Our Leadership Our Strategy
About Us
ANNUAL REPORT FY2020

SOCIAL

Ensuring Workplace Safety and Other new healthcare benefits introduced included providing all employees the
Employee Wellbeing opportunity to be treated at their preferred medical facilities, and the ease to have
long term medication delivered to their preferred address. To this end, we worked
Despite the challenges brought by the with e-Farma, a third party administrator, to facilitate employees who are under
COVID-19 pandemic, Bank Muamalat Long Term Medication to obtain their prescription and medication online, ensuring
consistently maintained a safe and that they could continue receiving their medication without having to visit the
conducive work culture as well as clinics or hospitals, thus minimising their exposure to public places during the
delivered on our social responsibilities pandemic period.
to our communities under a new
normal environment. The year saw the Prudent Cost Management
Bank ensuring the safety and welfare
of 2,034 employees, coming through in Despite rising medical costs, the Bank
their time of need during the imposed managed to reduce employees’ medical The Bank’s medical
Movement Control Order (“MCO”). costs through smart management of costs decreased by
medical benefits. In FY2020, we reduced
Intensified focus was directed towards medical costs by RM2 million (13.32%) 13.32% even as the
ensuring a safe and sanitised workplace as compared to FY2019, even as the national medical
for employees. This was a priority national medical inflation rose to 15%. inflation rose to 15%.
in ensuring uninterrupted operations
and delivery of reliable services to our The following were some of the
stakeholders throughout the pandemic. initiatives introduced to contain
Work from home measures were medical costs in FY2020:
swiftly adopted to ensure safe social
distancing could be easily adopted at Channelling of employees under Long Term Medication to subscribe to
workplaces. The clear communication e-Farma
and guidance on standard operating
procedures (“SOPs”) provided during A total of 182 employees and 40 eligible dependents were subscribed to
the year to keep the virus from e-Farma by 31 December 2020. This led to a total savings of RM256,776.29;
spreading proved effective as the averaging RM1,410.86 per employee.
Bank’s infectivity rate was kept below
0.5% among the employees in FY2020.
During this period, healthcare benefits Introduction of Pay & Claim GP visits for managerial employees
were extended to include coverage for
COVID-19 testing as well. Employees Average cost per visit from March to December 2020 was lower for managerial
categorised as close contact (P2) or employees. With the non-credit terms of Pay and Claim, their average of
Person under Surveillance (“PUS”) RM84 per visit proved to be 16% and 27% lower respectively from Executive
could get tested at private facilities (RM100) and Non-executive (RM115) employees. Based on the total number of
with all costs borne by the Bank. For 2,553 managerial visits in FY2020, and comparing the RM84 average cost to
COVID-positive (P1) cases, the Bank the RM108 average of non-managerial staff, a savings of RM61,272 (22.2%) was
included coverage of swab tests at achieved from managerial employees.
private facilities for the spouse and
children of infected employees.