Page 100 - Bank-Muamalat_Annual-Report-2023

BANK MUAMALAT MALAYSIA BERHAD

OUR PROGRESS AND
OUTPUT IN SUSTAINABILITY

5. UPHOLDING STANDARDS AT BANK MUAMALAT M1 Ethics and Integrity

Why is this Important?
Maintaining high standards of ethics and integrity is essential for the Bank’s operations. A robust ethical framework helps
prevent corruption, promotes transparency, and ensures that all stakeholders can trust the Bank. By fostering a culture of
integrity, the Bank not only complies with regulatory requirements but also enhances its reputation and operational
effectiveness, ultimately contributing to long-term sustainable growth.
What is Our Approach?
Our approach to ethics and integrity is comprehensive and multifaceted, encompassing strict adherence to anti-corruption
guidelines, robust policies, regular training, and effective whistleblowing mechanisms.
Zero Tolerance for Corruption: Bank Muamalat adopts a “zero tolerance” approach to all forms of bribery and corruption.
We comply with the Guidelines on Adequate Procedure under Section 17A Corporate Liability (Amendment 2018)
MACC Act 2009, which provides the T.R.U.S.T. framework:

Top-Level • Spearheaded the establishment of the Organisational Anti-Corruption Plan.
T
Commitment • Enhanced Policy on Anti-Bribery and Corruption and related guidelines.
• Allocated training budget for anti-bribery and corruption training.
• Mandated periodic reporting on integrity management activities to the Board and Management.
• Practiced semi-annual reporting to the Agency Integrity Management Division of the Malaysian
Anti-Corruption Commission through our Integrity and Governance Unit.

Risk • Conducted Bank-wide risk assessment and action plan via the Organisational Anti-Corruption
R
Assessment Plan.

Undertake
U Control • Enhanced Integrity-related documents, i.e., Policy on Anti-Bribery and Corruption, Anti-Bribery
Measures and Corruption Guideline on Gift and Entertainment, Anti-Bribery and Corruption Guideline on
Donation and Sponsorship, and Anti-Bribery and Corruption Handbook.

Systematic
S Review, • Administered the bribery and corruption reporting channel and advisory platform.
Monitoring, And • Required periodic reporting to the Board and Management on Anti-Bribery and Corruption
Enforcement programmes.
• Obligated monthly monitoring of gift and entertainment declarations by the Bank’s staff.
Enforced donation and sponsorship application review and monitoring.
• Imposed monitoring of vendors’ conflict of interest through Vendor Code of Conduct
acknowledgement.
• Reviewed standard operating procedures and policies to include integrity-related matters
wherever applicable.
• Assessed the understanding of the Bank’s staff via Anti-Bribery and Corruption e-learning.

T Training And • Mandated Anti-Bribery and Corruption training to all staff through e-learning and the
Communication Organisational Anti-Corruption Plan workshop.
• Implemented Integrity Internal Alerts and Integrity Newsletters.

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