Page 35 - Bank-Muamalat_Annual-Report-2023

ANNUAL REPORT 2023
MESSAGE FROM LEADERSHIP

Serving Customers Better For business clients, the launch of real-time cross-border payments through VISA
B2B Connect Platform exemplified our commitment to efficient and effective
As the rising cost of living was a financial solutions. This real-time cross-border payments and settlements platform
key concern during the year, the simplifies and streamlines cross-border business-to-business payments, providing
Bank provided necessary support swifter and more reliable transfers at a lower cost.
through initiatives that reflected our
commitment to societal wellbeing In parallel with greater innovation, we invested in keeping our customers safe through
and our adherence to Islamic values. secure banking transactions as financial crimes surged globally during the year,
We extended rescheduling and with online scams in Malaysia reportedly causing RM1.2 billion in losses. Our proactive
restructuring (R&R) assistance to response was to expedite more robust security measures, in line with Bank Negara
offer customers relief from financial Malaysia’s directives, including moving from SMS one-time-password (OTP)
challenges and help them regain to more secure forms of authentication for online transactions and account
control of their finances. changes. This was followed in June 2023 with an i-MSecure feature to approve
and reject transactions directly from smartphones securely. A kill switch was also
To incentivise deposits, a Sijil Simpanan
introduced, enabling users to block access to their online banking accounts in case
Islamik (SSi) campaign with substantial
of suspicious activities, along with a cooling-off period for new enrolments of
prizes up to RM1 million, was introduced.
online banking services and secured devices. This commitment to providing a
secure and seamless banking experience continues to be a core priority.
These proactive actions taken helped
the Bank sustain growth within the Empowering Our People
increasingly competitive environment
as the Bank gained a substantial Central to our success are our employees. We are committed to building an
deposit increase of RM6.5 billion in inclusive and sustainable organisation where our colleagues can perform the best
FY2023. that they can. Within the Bank, we remain committed to creating a workplace that
values and supports employees from all backgrounds while providing a balance
Addressing the challenges brought by
between work, health, spiritual, and development needs. Diversity, creativity,
rapid digitalisation, we expanded our
and inclusion are deemed essential in cultivating a culture of innovation and
distribution channels and partners to
excellence.
transform the way we serve and interact
with our customers. Digitisation was Towards greater employee engagement and satisfaction, an Employee Engagement
accelerated to increase efficiency and Survey was conducted among 90% of employees in December 2023. Significant
responsiveness, provide our customers investments have also been made towards establishing comprehensive career
with better banking solutions, and development frameworks and apprenticeship programmes to nurture a dynamic
ensure that customers can interact talent pool. Training was prioritised, with an average of 52 training hours per staff
with us how and when they want. member in FY2023, surpassing the targeted 40 hours.

At the forefront of our operations, On this front, Bank Muamalat was recognised at the 6th TALENTBANK Graduates’
we made significant strides in enhancing Choice Award (GCA) 2023 for an unwavering commitment to attracting and
internet banking and mobile banking retaining top graduate talent.
services. These include the rollout of
DuitNow QR for retail payments at all
POS Malaysia outlets and improvements
to the Mobile Application Platform
(MAP), driving a 49.87% growth in
MAP applications in FY2023.

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