Page 90 - Bank-Muamalat-Annual-Report-2021

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

ECONOMIC

During the year the following instances demonstrated the Bank’s
proactive favouring of VBI aligned vendors:
Number of proposals
1. Employed Koputra Property Care (“KPC”) as our cleaning services
that went through digital
company, whereby KPC was favoured for employing cleaners from
procurement increased from disadvantaged backgrounds, such as single mothers and people with
disabilities.
74% in 2019 to 78% in 2021.
2. For Raya packets, we continued to use recycled paper and
environmentally friendly ink, in this case soy ink, for printing the
packets.
PROCUREMENT PRACTICES
Annual Vendor Performance Review
Fair Treatment of Vendors
When choosing vendors, a strong partnership approach is used to
The Bank’s procurement practices are consistently
fully optimise achievements of goals and expectations which will lead
evaluated to ensure fair dealings and transparency
to long-term relationship building. To achieve better synergy with
in the process. The Bank’s Regulatory Advisory &
suppliers, an annual Vendor Performance Evaluation is conducted to
Compliance Division (“RACD”) has been maintained as
ensure the vendors will continuously deliver the subscribed services
a member of the tender committee (for Non-IT related
efficiently. Poor performing vendors are advised to improve on their
only) to ensure that all regulations are being adhered
respective performance. For FY2021, we have achieved 100% review and
to in terms of Fair Treatment of Financial Consumers
poor performing vendors will be advised to close their service gap by
(“FTFC”) & Outsourcing. In 2021, we have increased
improving their performance.
the transparency of the vendor onboarding process
by implementing a digital procurement system.
This has the additional benefit of being more cost ETHICS AND INTEGRITY
effective and environmentally sound, as the process
Ensuring a corruption-free business
uses less paper and without the need for vendors to
travel, there is less carbon emission. Bank Muamalat is committed to the highest standards of governance,
ethics and integrity. We ensure established and comprehensive internal
Number of proposals that went through digital
and external risk management processes, policies and frameworks are in
procurement increased from 74% in 2019 to 78% in
place to continuously deliver and sustain the Bank’s value propositions.
2021.
The Bank commits to adopt a “zero tolerance” approach against all
Prioritise sustainable practices
forms of bribery and corruption pursuant to the Guideline on Adequate
To ensure our sustainable policies are adopted within Procedure of Section 17A Corporate Liability (Amendment 2018) MACC
the procurement process, employees are trained to Act 2009. The Guidelines lay out the principles through the acronym of
meticulously evaluate the vendors to ensure their “T.R.U.S.T.” that can be applied by the Bank to ensure that the Bank has
business practices are aligned with our values. Prior a defence in the event an offence is committed.
to their appointment, we undertake a thorough
evaluation of prospective vendors, and prioritise
vendors who are local and practice sustainability
aspects. These include vendors that empower “T.R.U.S.T.” (T – Top Level Commitment,
communities such as people with disabilities R – Risk Assessment, U – Undertake
and single mothers, local vendors who may have
operations in rural areas, and vendors who adopt Control Measures, S – Systematic Review,
environmental initiatives. Monitoring and Enforcement, T – Training
and Communication).