Page 51 - Bank-Muamalat-AR2020

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Our Performance Sustainability Statement Our Governance Our Numbers Other Information
Governance

ii. Growing SME business aggressively by offering support to SMEs that are highly affected by the pandemic. This was
done on two (2) fronts. First, by responsibly chanelling financing available under the government’s stimulus packages.
This was followed by enhancing the structure and process flow for the Bank’s SME financing to ensure fast approval and
disbursement of funds.

iii. Catalysing a cost conscious culture by deploying a Cost Saving Initiative (“CSI”) Task Force. This task force is led by
the CEO’s Office with the CEO as Project Sponsor and members seconded from different departments including Finance,
Business Process Management, Procurement, Security & Administration Services, and Human Capital. Whilst the Bank
focuses and deploys efforts to sustain the business, the CSI Task Force will look into ways to manage cost wisely by:
a. Planning and identifying initiatives and key areas emerging from the implementation of CSI.
b. Executing and monitoring the implementation of the work plan and the development of strategies and tasks identified
in the work plan.
c. Monitoring and tracking the initiatives raised and discussed until they are completed.

SUMMARY OF BANK MUAMALAT’S RISE24 STRATEGIC BUSINESS PLAN 2020-2024

OVERARCHED BY
VALUE-BASED PRINCIPLES

Resetting Target • Determine new business areas and expansion of coverage to wider
SFA 1 Markets • Optimise balance sheet expansion whilst maximising returns
customer segment and better rated customer segment
Risk and Compliance Culture SFA 3 Digital • Journey towards establishing a a digital bank within a bank
Disciplined Balance
SFA 2
Sheet Management
• Intensive recovery plan to improve asset quality

Transformation

Data
• Optimise data analytics for income generation and cost efficiency
SFA 4
Monetisation

SFA 5

Continuous Process
SFA 6 Infrastructure • Enhance infrastructure to ensure efficient service delivery and deliverables
• Improvement of processes and products for more competitive offerings
Improvement &
Shariah Innovation
Talent
SFA 7 • Excellent talent management to support business growth
Management

SFA - Strategic Focus Area
Following the revision of RISE24 due to COVID-19, efforts have been subsequently made to enhance its implementation and
refine the strategic initiatives towards transformational results.