Page 2 - Bank Muamalat_AR24

This report is supplemented by our
full suite of online publications, which
caters to the diverse needs of our
broad stakeholder base as part of our
comprehensive integrated reporting.
INSIDE These can be accessed at :

THIS REPORT www.muamalat.com.my

1 2 3 4

OVERVIEW MESSAGE FROM OUR STRATEGY OUR BUSINESS
LEADERSHIP PERFORMANCE
4 About Bank Muamalat 22 Chairman’s Statement: 36 Market and Industry 52 Retail Banking
6 6 Success Beliefs Safeguarding Futures, Overview 65 Commercial Banking
7 Performance Empowering Lives 38 Principal Risks and 67 Transaction Banking
Highlights for 2024 26 President & Chief Uncertainties and Retail Deposit
Executive Officer’s 42 Our Value Creation
8 Corporate Structure Statement 69 Corporate Banking
9 5 Years Financial Model 71 Treasury and Capital
Highlights 32 Shariah Committee 44 Our Strategic Direction Markets
Chairman’s Statement
10 Assets Performance 72 Subsidiary: Muamalat
13 Connected Parties Invest Sdn Bhd
14 Events & Highlights 74 Investment Banking

ABOUT THIS REPORT

REPORTING FRAMEWORKS SCOPE AND BOUNDARY

This Annual Report 2024 (AR2024) which is produced and This report discloses the performance of Bank Muamalat and
published annually, covers the period from 1 January 2024 its subsidiaries, located in Malaysia. In developing this report,
to 31 December 2024, unless stated otherwise. The reporting we have adhered to the requirements of Bursa Malaysia
period is in alignment with the reporting of our parent Securities Berhad’s Main Market Listing Requirements and
company, DRB-HICOM Berhad. Sustainability Reporting Guide (Second Edition), the Malaysian
Code on Corporate Governance (MCCG 2021), Bank Negara
We have developed this AR2024 with an aim to provide Malaysia’s Policy Documents and Guidelines, Islamic Financial
a balanced and comprehensive reporting of the Bank’s
financial and non-financial performance, benchmarked Services Act 2013, the Malaysian Financial Reporting
Standards (MFRS), International Financial Reporting Standards
against our strategy and our delivery of long-term value. This (IFRS), the Companies Act 2016, the International Integrated
report also contains our forecast for the short, medium and Reporting Council’s (IIRC) Integrated Reporting Framework
long-term which is based on current assumptions and (the Framework) and the Global Reporting Initiative’s (GRI)
subject to uncertainty due to potential changes in operating
landscape. As such, these forward looking statements about Sustainability Reporting Standards.
Bank Muamalat’s future performance should not be regarded
as guarantees or promises.