Page 83 - Bank-Muamalat-Annual-Report-2021

ANNUAL REPORT 2021 81
SUSTAINABILITY STATEMENT OUR GOVERNANCE OUR NUMBERS OTHER INFORMATION

Banking on Shared
Progress

Our mission is to ethically The Bank’s Sustainability
Approach is Guided by:
deliver the best value to • Maqasid Al Shariah
stakeholders, society and • Value-Based intermediation
• United Nations Sustainable
the environment. Development Goals

OUR SUSTAINABILITY APPROACH
At Bank Muamalat, we are mindful of the
interdependence of finance with the real
economy, social cohesion and our natural
eco-system. We nurture our connection to the
communities we serve and are accountable
for the risks we take. Our focus on inclusion
puts basic banking products in service of a
greater number of people, rather than highly
sophisticated products in the hands of a few.
We are also highly aware of the externalities As part of Bank Negara Malaysia’s Value-Based Intermediation (VBI) Community
produced by our banking activities by the of Practitioners and a member of the Global Alliance for Banking on Values
projects and clients we finance. (GABV), we work to develop a positive, viable alternative banking system that is
a healthy and productive for societal upliftment.
Sustainability is ingrained within our DNA
through the Maqasid Shariah principles that The Bank recognises the need to progressively take active steps to ensure our
anchor our operations as an Islamic financial continuous commitment to contribute to the global development under the 17
institution. This upholds the preservation of SDGs. Through regular stakeholder engagement (see page 42), we have identified
order, achievement of benefit and prevention material matters (see page 44) across the pillars of Economy, Environment and
of harm or corruption, establishment of Social in alignment with six prioritised United Nations Sustainable Development
equality among people, upholding laws, as Goals (“SDGs”). In this Report, we refer to the respective SDGs and how we
well as empowering the ummah. contributed to promote them in our sustainability initiatives under the respective
material EES topics.

* Global Alliance for Banking on Values (GABV) is an independent network of banks using finance to deliver sustainable economic, social and environmental
development; with a focus on helping individuals fulfil their potential and build stronger communities. It comprises 66 financial institutions and 16 strategic
partners operating in 44 countries. Collectively it serves more than 70 million customers, holds over $200 billion USD of combined assets under management, and is
supported by more than 77,000 co-workers.
* Value-based intermediation (VBI) aims to deliver the intended outcomes of Shariah through practices, conduct and offerings that generate positive and sustainable
impact to the economy, community and environment, consistent with the shareholders' sustainable returns and long-term interests. The VBI Community of Practitioners
or “CoP” is a collaborative platform for industry players to strategically advance industry-wide implementation of VBI agenda.