Page 99 - Bank-Muamalat_Annual-Report-2023

ANNUAL REPORT 2023
SUSTAINABILITY STATEMENT

What Did We Do? What Did We Achieve?
In FY2023, we implemented several initiatives to enhance our Our procurement practices have yielded significant results,
procurement practices: demonstrating our dedication to ethical and sustainable
operations:
Vendor Performance Evaluation: For better synergy
with vendors, we conduct Vendor Performance Increased Digital Procurement: The number of
Evaluations to ensure they continuously deliver the proposals processed through the digital procurement
subscribed services efficiently. Poor-performing vendors system has steadily increased, indicating improved
are advised to improve their respective performance. transparency and efficiency.
Vendor Code of Conduct: We continue to have vendors Enhanced Vendor Relationships: By conducting
sign a Vendor Code of Conduct and Declaration of regular performance evaluations and maintaining open
Interest to build trust with stakeholders, showing our communication, we have built stronger, more reliable
commitment to ethical values and principles. partnerships with our vendors.
Digital Procurement System: We increased transparency Regulatory Compliance: By adhering to regulatory
and efficiency through a digital procurement system requirements and conducting thorough due diligence,
for vendor onboarding. The number of proposals we have mitigated risks and ensured the fair treatment
processed through this system increased from 74% of financial consumers.
in 2019 to 83% in 2023.
Our commitment to responsible procurement practices
P2P Procurement Solution: We are exploring a ensures that our operations positively impact the community
P2P procurement solution to further strengthen our
and environment. Through these efforts, we continue to
procurement processes, improve compliance, and uphold the values of transparency, fairness, and integrity in
enhance business efficiency.
all our procurement activities.
Inclusive Supplier Collaboration: We collaborated with
vendors that employ people with disabilities, single
mothers, and other marginalised groups, supporting our
commitment to inclusivity.

Meeting the needs of new consumer demands while contributing to national decarbonisation goals, the Bank actively promoted rates as low as 2.1%,
100% financing, and up to nine-year tenure for Electric Vehicles.

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