Page 64 - Bank-Muamalat_Annual-Report-2023
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BANK MUAMALAT MALAYSIA BERHAD
RETAIL
BANKING
Muamalat Gold-i Gold Sales
Islamic Financial (RM Million)
Planning Stage Investment products represent a core feature in
financial planning. As such, the Bank has pioneered
Wealth Creation & 147.86
the Shariah compliant Muamalat Gold-i Account 143.50
Accumulation
(MG-i) which was launched in 2017. This has made gold
Building, establishing and investments accessible to the middle and lower income
improving asset holdings group from as low as RM10. MG-i has received wide
acceptance since its inception and has quickly become
the Bank’s flagship investment product.
Islamic Wealth
Management Products
Total gold sales in FY2023 was registered at 482.2 kg
• ISLAMIC UNIT TRUST with a corresponding sales value of RM147.9 million,
(159 funds from 30 Fund representing a 3.1% increase over the previous
Houses) year. Sales of MG-i Account contributed 444.6kg,
while MG-i Physical sales amounted to 37.6kg.
• PRIVATE MANAGED 2022 2023
Since its inception in January 2016, the total gold sold
ACCOUNT/ESG FOCUS
currently stands at 3,375.92kg, with an equivalent
PORTFOLIO
sales value of RM830.1 million. The positive growth of
• MUAMALAT MUTUAL-i
gold sales is largely attributed to investors' preference
POWER COMBO
towards gold as a safe haven commodity considering
• MUAMALAT GOLD-i/ the ongoing geopolitical concerns in Europe and
EASIGOLD the Middle East.
• M-KASIH AMAL
Unit Trust Unit Trust Sales
(RM Million)
Towards the end of last year, the Bank launched its
Private Managed Account (PMA), thus augmenting
its current offerings. PMA provides professional 23.86 22.17
investment services with active monitoring of the
portfolio by a dedicated investment team. As at
December 2023, total Managed Account sales stood
at RM19.7 million. This is a new area of growth with
great potential as it is the first private managed
facility offered by the Bank.
Nevertheless, overall Unit Trust in FY2023 witnessed
a decline of nearly 7.1% compared to the previous
year amidst a subdued local equity market.
This decline was mainly attributed to lingering
2022 2023
uncertainty in local market conditions which created an
unfavourable environment for unit trust investments,
and investors adopting a more cautious approach,
distancing themselves from unit trusts due to past
negative experiences.
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