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22 BANK MUAMALAT MALAYSIA BERHAD About Us Our Leadership Our Strategy
About Us
ANNUAL REPORT FY2020
CHIEF EXECUTIVE OFFICER’S
STATEMENT
Malaysia is currently A CHALLENGING YEAR
stepping up its vaccination It was a year that called for responsive
programme to achieve herd action. Bank Muamalat Malaysia
immunity. Indeed, it is a Berhad (Bank Muamalat or the Bank)
stayed on track of its RISE24 strategic
shining beacon of hope for a plan, and priorities shifted towards
better year ahead, amidst the fortifying resilience in our operations.
prospects of year 2020 that We also focused on bolstering support
for our stakeholders.
was blighted by weakened
global and domestic This was a tough balancing act as
the rising unemployment rate and
economic landscapes, due to inert economic growth challenged the
the widespread COVID-19 Bank’s management of asset quality
pandemic. Global supply and prompted higher allowance for
impaired financings. At the same
chains were impacted, time, the shifts in credit and cashflow
leaving trade, consumer and landscapes brought about by the
business sentiments muted. blanket loan/financing moratorium
implemented by Bank Negara Malaysia
In Malaysia, nationwide (“BNM”) and payment assistance
lockdown measures caused programmes gave rise to modification
widespread disruption to losses.
business activities, which In boosting the Bank’s capabilities and
hampered financing growth focus to meet the growing challenges of
in the first half of the year. credit risk and technology needs within
this new business environment, three
Although there was some (3) key management roles were created
recovery in the second half and filled during the year, namely
of the year, the low profit Chief Credit Officer (“CCrO”), Chief
Information Security Officer (“CISO”)
environment, led by three (3) and Chief Strategy Officer (“CSO”).
consecutive cuts of overnight The appointments are also aimed at
policy rate (“OPR”) affected enhancing our focus on safeguarding
our business resilience and ensuring
the yield curve and further business sustainability.
compressed net margin
profits.
KHAIRUL KAMARUDIN
CHIEF EXECUTIVE OFFICER
