Page 36 - Bank-Muamalat_Annual-Report-2023

BANK MUAMALAT MALAYSIA BERHAD

PRESIDENT & CHIEF EXECUTIVE OFFICER’S
STATEMENT

Highlights for the year include the
Bank’s Waqf commitment, which
reached RM37.1 million in collections,
with RM20.3 million disbursed to
healthcare, education, and investment
sectors. Through the charity arm,
Tabung Mawaddah, the Bank mobilised
funds for social, educational, and
health-related matters, disbursing
a total of RM2.2 million across more
than 1,400 projects in 2023. During
Ramadan, the Bank continued to
contribute to annual CSR programmes,
distributing over RM400,000 in aid to
orphans, asnaf, tahfiz students, and
welfare homes.

Driving Nation-Building Goals More significantly, the development of
Islamic social finance instruments for
We are committed to Malaysia’s climate change goals, aligning with the National
small businesses, namely the Bank’s
Energy Transition Roadmap (NETR) 2023 and Bank Negara Malaysia’s Climate
iPUSH and iTEKAD programmes,
Change and Principle Based Taxonomy (CCPT) guidelines. During the year,
provide commercial growth
Bank Muamalat actively participated in the Joint Committee on Climate Change
opportunities with cascading impacts
(JC3) and developed a Climate Risk Management Framework in line with the Climate
on low-income communities. In our
Risk Management and Scenario Analysis Policy requirements.
journey towards becoming Malaysia’s
We have also been proactive in meeting regulatory requirements to advance leading Islamic Bank, these specially
a more sustainable future for the nation. Actions taken include integrating developed products that serve the
value-based intermediation and sustainability elements into our credit scorecard underserved towards holistic societal
and business strategy. In contributing to the industry’s value based intermediation growth will continue to be the Bank’s
(VBI) and sustainability journey, the Bank’s VBI financing asset over total financing core focus.
grew to 52.2% in FY2023. This comprised financing assets categorised for the
purpose of sustainable financing that provides positive economic, environment
and social impacts. During the year,
Leveraging synergies to amplify our commitments, we further collaborated with Bank Muamalat
Malakoff Corp Berhad to support sustainable energy solutions in Malaysia through actively participated
financing programmes for renewable energy (RE), including solar photovoltaic
systems, battery energy storage systems, and electric vehicle chargers. in the JC3 and
This collaboration aligns with Budget 2024’s focus on boosting the local electric developed a Climate
vehicle (EV) industry.
Risk Management
Contributing to the Community Framework in line

When it comes to socio-impact, Bank Muamalat has always been a community with the Climate Risk
bank at heart. Since the Bank’s establishment, we have actively engaged in Management and
various collaborations with state religious councils and government agencies,
executing numerous corporate social responsibility (CSR) programmes that reflect Scenario Analysis Policy
our commitment to social justice, environmental stewardship, and community requirements.
development. These initiatives align with our Maqasid Shariah principles, ensuring we
uphold our ethical and moral obligations.

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