Page 62 - Bank-Muamalat-Annual-Report-2021

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

RETAIL
BANKING

Nevertheless, the Division committed to a steady stream 8%
of online marketing efforts through a combination of social
media, telesales, and digital media campaigns. These assisted
ASB’s representation of Retail Banking
in curbing a massive drop in performance for Ar-Rahnu in
Division’s Total Financing Assets.
2021. Most notably the Gadai Emas Menang Emas (“GEME”) Amanah
campaign received favourable traction from consumers. Saham Bumiputra
Headway was also made through digital solutions such as the (“ASB”) Financing
Pajak Gadai-i App for smartphones which was launched and
enhanced in 2021 to develop a robust Ar-Rahnu environment
and platform for gold consumers.
In 2021, the business of Amanah Saham Nasional Berhad
("ASNB") reduced significantly. ASB's total assets amounted
Ar-Rahnu Financing Outstanding (RM Million) to RM1.08 billion, down 0.77% Y-o-Y from the previous
similar period.
63.5 103.3 109.2 170.3 304.5 272.6
This was despite continued marketing efforts through public
roadshows, direct sales, corporate presentations, and referrals
from branches, and the previous year’s key strategy of bulk
sign-up by Army personnel.
-10.5%
The Division anticipates a shift in consumer demand for
ASNB products, based on the downward trend in dividend
2016 2017 2018 2019 2020 2021 distribution in recent years. In light of the decreased dividend
declared by ASNB, the Bank expects agent banks to provide
consumers with competitive financing rates. The challenge
Ar-Rahnu income (RM Million) would be persuading the general public that financing ASNB
products are still desirable. The Division is optimistic that the
6.7 10.6 13.6 13.3 25.6 30.3
hurdles can be surmounted as long as the returns are higher
than the deposit rates.

+18.4%

2016 2017 2018 2019 2020 2021