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Governance
Our Performance Sustainability Statement Our Governance Our Numbers Other Information

Vulnerable SME Retail Sectors Empowering Communities through to identify beneficiaries in need
Social Finance of funds and create crowdfunding
Given the challenging economic campaigns to help them. Besides that,
issues of the year, Bank Muamalat The Bank’s Social Finance Department the public can also access our Jariah
also extended financing to small (“SFD”) manages zakat and wakaf Crowdfund website and choose the
medium entrepreneurs (“SMEs”) under funds and other related initiatives for preferred charity work that they want
programmes backed by Government charitable purposes. to contribute to. As at FY2020, Jariah
guarantee schemes, towards ensuring Fund has collected RM40,415 through
their business sustainability and Wakaf Muamalat is a collaboration seven (7) crowdfunding campaigns.
resilience, and mitigating any cascading between Bank Muamalat and State
effects of supply chain disruptions, Islamic Religious Councils in the Contributing to the Fight Against
unemployment and loss of income co-management of cash waqf fund COVID-19
within affected communities. These via a joint management committee
were supported by Entrepreneur (“JMC”). Since its inception in 2012, This year due to the pandemic, all our
Development programmes as reported Wakaf Muamalat through its JMC has yearly programmes were postponed
on page 85 (under Economic). approved 113 projects in education, and we concentrated on efforts
health, and investment nationwide. to assist the government, medical
Providing support to vulnerable Members of the public can donate community and those most affected
business sectors, the Bank disbursed through direct deductions of their by the outbreak. Bank Muamalat
RM25.50 million of the BNM SME bank accounts to their selected wakaf contributed a total of RM434,914 in
Retail Fund to 91 accounts during the institution. Despite the tough year, donation to support Tabung Negara,
year. contributions to Wakaf Muamalat Tabung Negeri Selangor Darul Ehsan,
amounted to RM30.7 million. As at the frontliners, hospitals, NGOs and
COMMUNITY DEVELOPMENT FY2020, the JMC has approved RM25.3 affected communities such as the
million for projects and RM16.5 million homeless, tertiary students far from
Contributing to Industry Knowledge has been disbursed. home, and our customers.
and Leadership
SFD also manages Tabung Mawaddah, Funds were used to purchase
As part of BNM’s VBI Community an internal charitable fund contributed necessities and essential needs for
of Practitioners, Bank Muamalat is by zakat and alms (sadaqah) sourced hospitals and frontliners; supply food
actively involved in the VBI Financing by the Bank and our employees. and necessities to institutions and
and Investment Impact Assessment Tabung Mawaddah is dedicated to aid frontline communities; and help ease
Framework (“VBIAF”) Sectoral Guide and implement charitable activities to the burdens of those affected.
Working Group, and led as project eight (8) categories of Asnaf recipients
manager for the VBIAF Sectoral Guide (Fakir, Miskin, Amil, Muallaf, Riqab,
on Energy Efficiency. This sectorial Gharimin, Fisabillah and Musafir) and Bank Muamalat
guide is created to rigorously evaluate to needful employees in the event of contributed a total of
companies that are promoting energy death, accidents, natural disasters, and RM434,914 in donation
efficiency projects and activities. On other such unfortunate situations. In to support Tabung
10 September 2020, the Bank provided FY2020, a total of RM2.07 million was
a briefing on the document via a virtual contributed to these recipients. Negara, Tabung Negeri
Townhall Session organised by IBFIM, Selangor Darul Ehsan,
attended by almost 1,000 participants. In FY2020, Tabung Mawaddah frontliners, hospitals,
embarked on a digital journey with
Currently, Bank Muamalat is also the launch of a crowdfunding platform NGOs and affected
involved in the second cohort for VBIAF known as Jariah Fund. Through communities such as
Sectoral Guides on Construction. The this platform, Tabung Mawaddah the homeless, tertiary
consultation document is expected to collaborates with selected non- students far from home,
be completed by the end of 2021. governmental organisations (“NGOs”) and our customers.