Page 86 - Bank-Muamalat-Annual-Report-2021

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

OUR SUSTAINABILITY
APPROACH

SDG 8.1
Sustaining per capita economic
growth in accordance with
national circumstances
SDG 16.5
Substantially reducing corruption
and bribery in all their forms

ECONOMIC

ECONOMIC PERFORMANCE ENTREPRENEUR DEVELOPMENT
FY2021 continued to be impacted by COVID-19 lockdowns, With the COVID-19 pandemic radically impacting demand,
which resulted in delayed, and slower than expected economic buying patterns and disrupted businesses, the Bank works
recovery. Within this environment, Bank Muamalat has to support the Government’s agenda to boost micro, small
remained resilient and adept at harnessing opportunities. and medium entrepreneurships (“SMEs”), with the goal of
The Bank achieved a record profit before zakat and taxation meeting the target for SMEs to contribute 50% to GDP by
(“PBZT”) of RM256.6 million amidst growth of 46.8 per cent 2030. Continuous support of BNM’s initiatives include financial
and improved asset quality. assistance and micro financing.

The economic values generated, retained and distributed by Government Guarantee Schemes have been vastly utilised by
the Bank for the year ended 31 December 2021 are as follows: many SMEs in all industries such as in manufacturing, services,
retail and trade. To date, more than RM47 billion worth of
guarantees have been provided to over 45,000 SMEs and
these have helped sustain their business especially during the
lockdown periods, as well as provide them with some financial
reserves for working capital needs to move forward during this
Economic value Economic value Economic value economic recovery phase.
generated distributed retained
RM1.1 RM828.3 RM310.7 Starting January 2021, Bank Muamalat participated in the
Targeted Relief and Recovery Financing (“TRRF”), a government
billion million million assistance financing facility under Bank Negara Malaysia Fund
(“BNM Fund”) that had been introduced after the Special
Relief Fund (“SRF”) was unveiled in 2020. Bank Muamalat is
Further details of our financial performance can be found on page 27

Notes:
(a) Refers to the revenues and other income generated by the Bank
(b) Refers to operating costs, employee wages, payments to providers of capital, payments to Government and community investments
(c) Refers to Economic Value Generated minus Economic Value Distributed