Page 100 - Bank Muamalat_AR24

98 BANK MUAMALAT MALAYSIA BERHAD

ECONOMIC

Key Actions and Outcomes

In FY2024, Bank Muamalat undertook a range of initiatives Tailored Financing to Support Inclusive Growth
to embed responsible financing across its operations and
product offerings: The Bank’s commitment to responsible financing is
demonstrated through a suite of tailored financial solutions
• Incorporated CCPT classifications and ESG scoring into that serve the diverse needs of underserved and financially
financing assessments to support green financing and vulnerable segments. These offerings are designed not only to
reinforce climate-related due diligence. address immediate financial requirements but also to support
long-term economic empowerment and financial resilience.
• Participated actively in the Joint Committee on Climate
Change (JC3), leading the Subgroup for SMEs under CCPT • Personal financing is extended to support essential needs
Guiding Principles 3 and 4 (GP3 & GP4). We developed such as debt consolidation, education, and healthcare. In
and published the SME Guidance Notes (SME GN) to assist particular, the Bank has developed customised offerings
financial institutions and SMEs in assessing and mitigating for pensioners, members of the armed forces, and the
environmental and climate risks. B40 segment. These products are structured to ensure
affordability and minimise over-indebtedness, enabling
• Led the enhancement of the VBIAF Sectoral Guide for customers to manage their financial obligations responsibly.
Energy Efficiency (as Project Manager) and co-led the
revision of the Construction and Infrastructure sector • Home financing is made accessible to first-time buyers
guides, reinforcing our commitment to sector-specific and lower-income groups through government-supported
responsible financing practices. schemes such as Skim Jaminan Kredit Perumahan (SJKP)
and Skim Rumah Pertamaku (SRP). These schemes help
• Continued to implement structured internal reviews customers overcome common barriers such as lack of
and training to ensure policy compliance and employee
readiness in adapting to new regulatory expectations. collateral or formal income documentation, promoting
homeownership as a key pillar of social stability and wealth
• Maintained strong credit governance through our Credit creation.
Policy, which outlines responsible financing criteria, • Ar Rahnu, Bank Muamalat’s Shariah-compliant pawn
individual accountability, and centralised credit control.
broking service, provides short-term liquidity to customers
VBI-Aligned Financing Portfolio (FY2024) who may lack access to traditional credit facilities.
As of 2024, this product has supported over 28,000
Financing Outstanding individuals, the majority of whom are from the B40 segment.
VBI-Aligned Area
(RM million) Ar Rahnu remains a vital financial safety net, offering
fast, collateral-based financing that is ethical and
SME Financing 873.00 transparent.
Retail Financing 10,607.00 • Electric vehicle financing reflects the Bank’s growing focus
on sustainability. By offering financing for EV purchases, the
Preserving the Natural 820.00 Bank supports the adoption of low-carbon transportation
Environment alternatives in line with Malaysia’s national environmental

Raising Community Standards 3,611.00 agenda. This product also aligns with Bank Muamalat’s
of Living commitment to financing green and climate-positive
solutions.
Promoting Healthy Lifestyles 250.00
• ASB financing is offered as part of the Bank’s financial
Education 120.00 planning products, promoting long-term savings and
investment among B40 customers. This solution empowers
Hospitals and Medical 360.00 individuals to grow their wealth over time while fostering a
Providers disciplined savings culture, particularly for those who may
not otherwise participate in formal investment schemes.