Page 89 - Bank-Muamalat-AR2020

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Our Performance Sustainability Statement Our Governance Our Numbers Other Information
Governance

Staff Financing people with disabilities and single mothers, local vendors
who may have operations in rural areas, and vendors who
Bank Muamalat offers our employees financial support adopt environmental initiatives.
through various financing and advances as part of employee
benefits and to support their attainment of a comfortable, We are proud to declare that all vendors engaged with in
conducive and joyful family-oriented life. FY2020 were local. The Bank has also proactively engaged
with vendors to better understand their business processes
Through the Staff Sundry Financing (“SSF”) and Staff and evaluate initiatives that are aligned with VBI.
Structured Personal Financing (“SSPF”) employees are able to
service house and car financing, and Staff Bicycle Financing During the year, the following instances demonstrated the
was also introduced to support healthy lifestyle choices. All Bank’s proactive favouring of VBI aligned vendors:
employees of Bank Muamalat are entitled to the benefits of
staff financing at competitive rates. • Employed Koputra Property Care (“KPC”) as our cleaning
services company, whereby KPC was favoured for
Besides that, the Bank offers a Festival Advance based on employing cleaners with disabilities.
Qard before major festive celebrations to enable employees
in managerial positions and below, earning relatively lower • For Raya packets, we employed vendors that use recycled
income, to prepare for the celebrations. paper and environmentally friendly ink for printing.
In FY2020, a total of RM4.9 million staff financing was Annual Vendor Performance Review
approved for 133 employees, and RM1.04 million in festival For every vendor selected, an annual vendor performance
advance was approved for 274 employees.
review is conducted. We achieved a 100% review in FY2020
and poor performing vendors were informed of their service
PROCUREMENT PRACTICES gaps so that they can improve on performance.

Fair Treatment of Vendors
ETHICS & INTEGRITY
The Bank’s procurement practices are consistently evaluated
to ensure fair dealings and transparency in the process. The Standing Against Corruption
Bank’s Regulatory Advisory & Compliance Division (“RACD”) The Bank adopts the anti-bribery and corruption management
has been maintained as a member of the tender committee process pursuant to the Guidelines on Adequate Procedure
(for Non-IT related only) to ensure that all regulations are of Section 17A Corporate Liability (Amendment 2018)
being adhered to in terms of Fair Treatment of Financial MACC Act 2009. The Guidelines lay out the principles
Consumers (“FTFC”) & Outsourcing. In the interest of vendor through the acronym of “T.R.U.S.T.” (T - Top Level
relations, we have improved our turnaround time for invoice Commitment, R - Risk Assessment, U - Undertake
processing as well as being transparent in the evaluation of Control Measures, S - Systematic Review, Monitoring and
awards.
Enforcement, T - Training and Communication) that can be
Prioritising Sustainable Practices applied by the Bank to ensure that the Bank has a defence in
the event an offence is committed. For each of the principles,
To ensure our sustainable policies are adopted within the the Guidelines provide a list of recommended initiatives and
procurement process, employees are trained to meticulously the following are among the initiatives executed by the Bank
evaluate the vendors to ensure their business practices are in FY2020:
aligned with our values. Prior to their appointment, we
undertake a thorough evaluation of prospective vendors, and • Management Commitment pledges and statements in
prioritise local vendors who practice sustainability aspects. combating corruption via Bank Muamalat’s official website
These include vendors that empower communities such as and Internal Communication Portal (“ICP”)