Page 100 - Bank-Muamalat-Annual-Report-2021

98 BANK MUAMALAT MALAYSIA BERHAD
ABOUT US OUR LEADERSHIP OUR STRATEGY OUR PERFORMANCE

SOCIAL

TRAINING AND EDUCATION Shariah Knowledge

Training is a core priority at the Bank as it directly impacts As part of the initiatives towards enhancing the frontliners
productivity and quality of work. As a financial institution, competencies and to equip our employees with skills and
regular training is required to fulfil recommendations by knowledge in Islamic Finance, IBFIM’s Associate Qualification
regulatory bodies, adhere to required compliances and to in Islamic Finance (AQIF) and Intermediate Qualification in
ensure employees in the financial industry are well trained and Islamic Finance (IQIF) certifications are identified for the BMs
well versed with all different financial acts. For employees, and ABMs. The programmes have been internally organised
a rigorous training programme leads to increased job with the collaboration of IBFIM. AQIF consists of five modules
satisfaction and morale and builds individual capabilities and focuses on the required foundation knowledge in Shariah and
motivation to seek greater efficiencies in processes and adopt the applied Shariah contracts in Islamic finance products and
new technologies and methods. Training programmes for operations. IQIF consists of ten modules emphasis on the
the year focused on skills management and lifelong learning application of concepts to practical aspects of Islamic banking
to enhance the potential and capabilities of our employees. operations. 20% of the groups have started the programme
in November 2021 and registration will be continued
All employees participated in a total of 153,367 training progressively.
hours during the year (FY2020: 135,843 training hours).
Average training hours ranged from 66 hours per employee Talent Development & Succession Planning
for Executive level personnel to 44 hours per employee for
The Executive Leadership-MBA programme which commenced
those at Management level. Both technical and non-technical
in November 2020, was offered to 10 identified talents in
programmes were offered to encompass functional as well as
managerial roles from Business and Support functions to further
soft skills.
groom and develop them as part of the Bank’s succession
On average, there was a 100% increase of training planning and talent retention strategy.
programmes in FY2021 from FY2020, with the average
In 2021, participants of Cohort 2 of the Executive Leadership-MBA
percentage of participation for all categories of programmes
programme have successfully completed their Certified
rising by 90%. Higher average training hours were due to
Professional in Islamic Finance (CPIF), by INCEIF, which is part
the Online Learning implemented during the year, which
of the MBA module. Cohort 2 is scheduled to graduate in
not only saw an increase in the level of participation but
the fourth quarter of 2022. Moving forward, the ELP may be
also reduced the cost of training. As for the effectiveness of
expanded to include other short Leadership and Managerial
the training, each participant was measured through a pre
programmes to nurture a sustainable talent pool for the Bank,
and post assessment as well as an audit report, amongst
and provide successors for Key and Critical (OMRT) positions.
other measures.
Further details and breakdowns are available in our Data to Support
Material Matters segment from page 101