Page 88 - Bank-Muamalat_Annual-Report-2023

BANK MUAMALAT MALAYSIA BERHAD

SUSTAINABILITY

MATTERS

MATERIALITY ASSESSMENT METHODOLOGY
As a responsible and sustainable financial institution, the Bank recognises the importance of identifying and prioritising
the material matters that are most relevant to our stakeholders and our business. To ensure we create value for our
stakeholders in the short, medium, and long term, we have established a three-step approach to materiality.
This approach enables us to identify the most significant economic, environmental, and social (EES) matters that could
impact our operations, financial performance, sustainability, and contributions to our stakeholders. By prioritising these
material matters, we can better allocate our resources, manage risks, seize opportunities, and enhance our decision-making.
This approach also ensures our sustainability reporting is focused on the matters most important to our stakeholders,
maintaining transparency and accountability in our progress toward addressing them.
We have built on the solid foundations set in and conducted an enhanced 3-stage assessment process to identify, assess,
and prioritise the topics that matter most to our business strategy and stakeholders.
Our 3-step approach is as follows:

Identify
We identify material matters by reviewing previous material matters, engaging with our stakeholders to understand
their expectations, concerns, and needs, and assessing issues relevant to industry best practices.

Evaluate
We evaluate the identified material matters internally, following standards such as Bursa Malaysia Securities
Berhad’s MMLR and the International Integrated Reporting Council (IIRC) framework. Externally, we measure
these matters based on their impact on our business and their relevance to our stakeholders.

Prioritise
We prioritise the identified material matters based on their significance to both our business and our
stakeholders.

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