ABOUT BANK MUAMALAT
As a value-driven Islamic bank, Bank Muamalat aims to contribute to a sustainable financial ecosystem through strategies that balance business objectives with a focus on economic, environment and social benefits.
Gross Impaired Financing of 1.07%
Lowest since the Bank’s establishment
CASA ratio at 36.1%
Higher than industry (banking system) 30.3%
Total assets RM25.7 billion
Grew 12.6% over a period of 3 years
Mobile apps new subscription increased by 59.2%
compared to 54.0% in previous year
Introduced Jariah Fund, a social welfare crowdfunding platform to generate a sustainable impact on the economy
Introduced Muamalat Application Platform ("MAP"), a financing application platform that allows customer to apply for financing online and track their financial journey anytime and anywhere
DEAR VALUED SHAREHOLDERS,
2020 will go down in history as a year that disrupted the world, with its profound impact on the global economy and societal norms. Countries around the globe scrambled to curb the COVID-19 pandemic, by closing borders and imposing movement restrictions. New norms emerged and digitalisation was rapidly adopted to sustain economic activities.
At home, Bank Negara Malaysia in its 4th Quarterly Report revealed that the economy experienced its biggest contraction since the 1998 Asian Financial Crisis, shrinking by 5.6% in 2020. To cushion Malaysians from the economic fallout triggered by the pandemic, the Ministry of Finance in its Economic Outlook 2021 Report, disclosed that the Government disbursed several stimulus packages valued over RM300 billion, comprising fiscal and non-fiscal measures.
Alhamdulillah, adequate liquidity buffers provided banks with sufficient room to withstand the external shock and pull through the crisis. Looking beyond the initial impact of the COVID-19 crisis, Bank Muamalat will continue to support the country’s economic recovery, focus on its stakeholders’ needs, build resilience and enhance digitalisation efforts.
DATUK SERI TAJUDDIN ATAN
CHAIRMAN
Malaysia is currently stepping up its vaccination programme to achieve herd immunity. Indeed, it is a shining beacon of hope for a better year ahead, amidst the prospects of year 2020 that was blighted by weakened global and domestic economic landscapes, due to the widespread COVID-19 pandemic. Global supply chains were impacted, leaving trade, consumer and business sentiments muted. In Malaysia, nationwide lockdown measures caused widespread disruption to business activities, which hampered financing growth in the first half of the year. Although there was some recovery in the second half of the year, the low profit environment, led by three (3) consecutive cuts of overnight policy rate (“OPR”) affected the yield curve and further compressed net margin profits.
CHIEF EXECUTIVE OFFICER
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