Page 88 - Bank-Muamalat-Annual-Report-2021

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

ECONOMIC

The AKPK programme benefitted 1,352 accounts involving
a total of RM109.5 million financing, while the Bank’s
The AKPK programme benefitted Payment Assistance & Moratorium measures helped 44,033
1,352 accounts involving a total of accounts involving a total of RM4,825.5 million worth of
financing.
RM109.5 million financing, while
Our commitment to Debt Management and Financial Planning
the Bank’s Payment Assistance
extends towards educational initiatives in our effort to raise
& Moratorium measures helped the level of financial literacy among society. In 2021, the Bank
organised 42 sessions of briefings on financial planning,
44,033 accounts involving a total
debt management and investment planning via collaborations
of RM4,825.5 million worth of with government departments and associations; to
highlight the importance of managing personal finances
financing.
prudently. These educational sessions also inculcate good
saving habits. A total of 7,560 participants comprising army
personnel, government servants and pensioners, attended
RESPONSIBLE FINANCING the sessions held during the year.

Being an Islamic Bank, we understand our role in improving Uplifting the Community
the overall quality of lives of the broader community through
As a Bank with a community focus, Bank Muamalat commits to
our products, advisory services and relief measures. We
making affordable financing more accessible to the underserved,
are committed to providing products and services that are
lower income groups and those who are in the vulnerable
relevant to our customer segments' needs for inclusive growth.
sectors. This is done by actively channelling government funds
This reflects our value-creating company approach, which is
and through our own financing solutions. Efforts made towards
based on the VBI principles and aspires to contribute to the
uplifting the community through these financing solutions are
real economy while also meeting societal demands. The Bank
detailed in our Financial Inclusion initiatives on page 99.
continues to focus on green financing, social finance, and
benefitting the real economy through the new and existing
Responsible Financing Policy Document
products offered.
During the year under review, the Bank completed the review
Relief Measures & Debt Management
of our Responsible Financing Policy Document which is in line
with our practice of responsible financing. We frequently review
In response to significant economic disruption wrecked by the
our policies to ensure any policy changes from regulators are
COVID-19 outbreak, the Bank offered financial relief measures
implemented in a transparent and prudent manner. We also
to alleviate customers’ financial constraints. These included
keep our employees aware of any policy changes by issuing
up to six months moratorium for the monthly instalment of
circulars upon release of new guidelines from regulators, and
financing, as well as accommodating requests by customers to
conduct training on the changes when necessary.
restructure and reschedule their financing.
Enhanced Credit Assessment
We also proactively engage customers with financial
hardship under the debt management programme
In order to facilitate a more objective credit assessment, the
spearheaded by Agensi Kaunseling and Pengurusan Kredit
Bank has an internal statistical-based credit scoring system
(“AKPK”), whereby customers are given the opportunity
which enables credit officers to better quantify the risk
to regain control of their finances with personalised
involved, hence helping to determine the creditworthiness of
payment plans. In special circumstances should customers
financing applicants. The Bank also conducts regular training
encounter payment difficulties owing to natural disasters,
to continually develop employees’ ability to make insightful
the Bank also provides a temporary reprieve for them
credit judgement amid the rapidly evolving credit management
by granting a moratorium on financing payment.
environment.