Page 21 - Bank-Muamalat-AR2020

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Our Performance Sustainability Statement Our Governance Our Numbers Other Information

The Bank’s
outstanding financing
facilities was recognised
as having a direct
impact on the economic,
social and environment
which accounted for
RM6.81 billion or 42%
of our total outstanding
financing in FY2020.

of the sectorial guide on energy into digitalisation, offering innovative These digital initiatives dynamically
efficiency. The Bank’s outstanding solutions for its customers, especially advance Bank Muamalat’s future-
financing facilities was recognised on robo-advisory. readiness and business sustainability
as having a direct impact on the through the medium term.
economic, social and environment In July 2020, Bank Muamalat
which accounted for RM6.81 billion pioneered the Ar-Rahnu online SHAPING INTEGRITY,
or 42% of our total outstanding auction - a first for the Ar-Rahnu ACCOUNTABILITY AND
financing in FY2020. industry in Malaysia to provide TRANSPARENCY
easy access to unredeemed gold
items, while at the same time The Board of Bank Muamalat
SHAPING A DIGITAL FUTURE
helping reduce the impairment in its continues to uphold strong corporate
Driven by the rapid development of Ar-Rahnu portfolio. The Ar-Rahnu governance policies and practices
digitisation, it is important for the online auction is based on open tender to promote corporate integrity,
Bank to leverage on the power of system for public bidders. Surplus is accountability and transparency. Our
digital technology and incorporate it returned to the customers if the sale commitment to good governance is
as part of its business DNA for greater price exceeds the remaining debt. reflected in the diversity of age and
economic efficiency. experience of our Board members.
In October 2020, the Bank introduced Four (4) out of our seven (7) board
During the year, Bank Muamalat the Muamalat Application Platform members, including the Chairman,
collaborated with US-based Shariah (“MAP”) - a financing application are independent in line with the
compliant digital investment platform, platform that allows customers to requirement by Bursa Malaysia’s
Wahed Inc towards the realisation of apply financing online and track guidelines.
Wahed Invest; a platform allowing their financial journey anytime and
investors to access Shariah compliant anywhere.
portfolios. The collaboration was a
significant step on the Bank’s journey