Page 89 - Bank-Muamalat-Annual-Report-2021

ANNUAL REPORT 2021 87
SUSTAINABILITY STATEMENT OUR GOVERNANCE OUR NUMBERS OTHER INFORMATION

VBI-Driven Financing On the retail financing front, we are committed to providing
products and services that are relevant to our customer
The Bank ensures that new financing extended are within the segments' needs for inclusive growth. This reflects our value-
VBI parameters towards positive EES outcomes. We intensify creating company approach, which is based on the VBI
our focus on companies that act to enhance our environment principles and aspirations to contribute to the real economy
and contribute to the wellbeing of communities. while also meeting societal demands. The Bank continues to
focus on green financing, social finance, and benefiting the
During the year, our total disbursement of business
real economy through the new and existing products offered.
financing aligned with VBI was RM3,775 million, accounting
These financial and non-financial products are offered through
for 55.4% of total Non-Retail financing. Total outstanding
expanded and enhanced distribution channels to optimise
for VBI financing in 2021 constituted about RM7,270.0
access and reach underserved communities.
million or 51.8% of total outstanding Retail financing.
All financing disbursed were in accordance to Shariah
Contributing to Industry Knowledge and Leadership
Governance and Shariah Risk Management.
Bank Muamalat is also part of the CIBAFI Sustainable Working
The VBI-aligned portfolio consisted of the following sectors: Group. Together with other members in the working group,
we have launched Sustainability Guide for Islamic Financial
Institutions (IFIs) the purpose of which is to guide the IFIs on
integrating sustainability into their business activities. This in
hope could prosper sustainability development within the IFIs.
In FY2021, the Bank's active involvement in the second VBI
Preserving Natural Platform for Raising cohort to publish the Construction & Infrastructure Sectoral
Environment Community Standard of Living Guide with other CoP mmbers is another proof of its continuous
RM271.0 million RM1,838.0 million commitment for sustainability development.
Staff Financing

Bank Muamalat offers our employees financial support through
various financing and advances as part of employee benefits
and to support their attainment of a comfortable, conducive
and joyful family oriented life.
Promoting Healthy Education
Lifestyle RM176.0 million The Bank continues to offer Staff Sundry Financing (“SSF”) and
RM321.0 million Staff Structured Personnel Financing (“SSPF”). Through the
Staff House Financing and Staff Vehicle Financing, employees
are able to purchase house and vehicles at special staff rates.
The Bank also offers a Muamalat Car Scheme for Vice President
(VP) level and above, of which 70% of the financing is subsidised
by the Bank and has a retention element.
Besides that, the Bank offers a Festival Advance based on Qard
Hospitals & Medical before major festive celebrations which include Hari Raya,
Provider
Chinese New Year, Deepavali, Christmas and Gawai. This is part
RM501.0 million of the Bank's effort to enable employees of a lower income
group to prepare joyous festive celebrations for themselves
and their family.

In FY2021, RM5.3 million of staff financing was approved for
108 employees and RM807,884 of Festival Advance was
approved for 213 employees.