Page 73 - Bank-Muamalat-Annual-Report-2021

ANNUAL REPORT 2021 71
SUSTAINABILITY STATEMENT OUR GOVERNANCE OUR NUMBERS OTHER INFORMATION

Moving Forward
There are several anticipated challenges and uncertainties Launching innovative products that will drive funded, fee
that the Division is likely to encounter in pursuit of its strategic income and CASA is also in the pipeline. This includes holistic
targets for FY2022 and beyond. These include: products covering both financing and deposit needs. To that
end, we offer Secured Term Financing to cater for customers’
• Possible prolonged adverse economic conditions
existing and future CAPEX Projects.
resulting in deferred CAPEX and operating expenses
requirements of the target customers. Further efficiencies in the CBD business model will also
be introduced via the Client Coverage model to maximise
• Monthly unscheduled settlements business relationships and procure new customers, as well as
improve our business processes by continued reengineering
• Lengthy onboarding process resulting in customers
process of origination, assessment and approval. Data
favouring other FIs.
Management & Analytics will be leveraged on to enable
The potential implications identified for the Division’s future more cross-selling and product bundling initiatives to
performance include a rebalanced asset portfolio (from increase customers’ product holding.
current over-dependence on working capital for growth),
Last but not least, a continued focus on the development
and an increased recurring income from existing good
of capable leaders is vital in order to build a competent and
quality customers.
capable internal team to accelerate business growth. In line
Therefore, the Division’s focus will be to accelerate growth, with this goal, the Division will push for retention planning,
achieved through defending short term assets by managing optimising of workforce and career planning action plans
monthly attrition rates and acquiring new customers in that can nurture future successors.
high potential sectors, especially GLC, GLICs, and listed
companies. Constant engagement with customers will be
prioritised to ensure reutilisation by offering special pricing
to well-rated customers.