Page 112 - Bank-Muamalat_Annual-Report-2023

BANK MUAMALAT MALAYSIA BERHAD

OUR PROGRESS AND
OUTPUT IN SUSTAINABILITY

5. EMPOWERING COMMUNITIES THROUGH ACCESSIBLE BANKING M12 Financial Inclusion

Why is this Important? • Government Grant Utilisation: Utilised RM85,000
from a Government Grant facilitated by Bank
Aligned with its vision to serve as a leading Islamic bank Negara Malaysia to provide seed capital to iTEKAD
that is accessible to all, Bank Muamalat is dedicated to entrepreneurs for purchasing business assets and
advancing financial inclusion. This commitment ensures that expanding their enterprises.
individuals and businesses, regardless of their socioeconomic
backgrounds, can access a diverse range of affordable and Digital Onboarding and Efficiency
high-quality financial services. Financial inclusion plays a
pivotal role in reducing poverty and inequality, fostering • Digital Onboarding Process: Digital Banking
economic growth and stability, and cultivating a more Department (DBD) or Digital Banking team supports
equitable society. By expanding access to the financial branches by facilitating a digital onboarding process
system, Bank Muamalat empowers individuals and during outbound activities, ensuring a smooth, efficient,
businesses to better manage their finances, enhance their and paperless customer experience. Achieved an
resilience to economic challenges, and achieve their financial increase in digital onboarding rates, contributing
aspirations. These initiatives not only bolster community to reduced paper usage and environmental impact.
economic resilience but also underscore Bank Muamalat’s These efforts align with our commitment to sustainable
mission to foster ‘Better Lives, Together’, through inclusive practices while enhancing operational efficiency.
and accessible banking solutions.
Bank Bergerak Initiative
What is Our Approach?
• Mobile Banking Services: The Bank Bergerak
Our approach integrates innovative solutions and strategic initiative offers essential banking services in rural
collaborations to expand access to micro-financing and areas, including Ar-Rahnu financing, inter-bank fund
digital banking services. We collaborate closely with transfers, financing payments, and cash deposits
government agencies and local communities to tailor and withdrawals. Through this initiative, a total of
our services, ensuring they meet the unique needs of RM2.9 million in financing was processed, with 4,190
underserved populations. Through initiatives like the i-PUSH transactions completed. This service significantly
microfinancing programme and digital onboarding processes, enhances access to financial services for underserved
we strive to provide seamless and paperless banking communities and customers in limited access and
experiences that promote financial literacy and inclusion. rural areas.

What Did We Do? These initiatives have significantly enhanced financial
inclusion and economic resilience among underserved
iTEKAD Programme Expansion communities. By providing access to micro-financing, digital
banking solutions, and comprehensive support programmes,
• i-PUSH Microfinancing: Approved 2,240 applications we empower individuals to achieve financial independence
for the i-PUSH microfinancing programme, and contribute to inclusive economic growth. Our efforts
part of the expanding iTEKAD programme underscore our dedication to creating ‘Better Lives, Together’
established in collaboration with the Pahang State with the community, while advancing towards our goal of
Government. This initiative aims to provide micro- achieving sustainable development and fostering a more
entrepreneurs with essential working capital, equitable society for all.
empowering them to grow their businesses
and improve their livelihoods.
• iTEKAD Mawaddah Programme: onboarded qualified
entrepreneurs under iTEKAD Mawaddah programme,
providing them with working capital and training
fees. This programme supports entrepreneurs by
equipping them with financial resources and skills
training essential for business success.

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