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ANNUAL REPORT 2024 1 2 3 4 Our Business Performance 5 6 7 8 61

RETAIL INVESTMENT

Muamalat Gold-i The Bank’s Retail Investment Department (RID) continues to strengthen its position as a key
Sales player in Islamic wealth management, integrating inclusivity and sustainable returns into its
719.4kg service offerings. Aspiring to be the Premier Islamic Wealth Management Lifetime Solutions
(RM269.1 million) Provider, RID provides customers with financial guidance throughout their life journey through
a comprehensive suite of Shariah-compliant wealth management solutions that seamlessly
Total Income integrate financial growth with ethical and spiritual principles.
RM59.4 FY2024 was a dynamic year for RID characterised by strong growth in key segments and
million a strategic shift toward structured investment solutions to meet the evolving needs of
customers. New takaful solutions were introduced to provide comprehensive protection
across various life, travel, and vehicle coverage categories:

myMedivalue M-Zahra First
A healthcare takaful plan A takaful protection plan formulated
offering comprehensive for simplicity and affordability and yet,
medical coverage tailored to meet customer protection
needs with comprehensive coverage

myTravel PA myMotor Motorcycle
A travel protection plan A takaful coverage plan designed
ensuring financial security for motorcycle owners
against unexpected
travel-related incidents

myMotor Private Car myMabrur
A comprehensive takaful A specialised takaful plan for Hajj
protection plan for private and Umrah travelers, providing
car owners protection during their spiritual
journey

These results reaffirm RID’s commitment to delivering beyond. With a strong foundation in Shariah-compliant
innovative, Shariah-compliant financial solutions that financial solutions and forward-looking strategies, RID is
address evolving customer needs. In FY2024, RID continued well-positioned to drive sustained growth and market
to be a key revenue contributor for the Bank, reinforcing leadership for Islamic wealth management in 2025 and
its pivotal role in the Bank’s overall financial performance. beyond.
It generated RM59.5 million in fee-based income with
substantial contributions from Credit Takaful and Investment
domains, It scored an impressive 35.8% increase in fee-based Moving forward, RID will continue to focus on expanding its
income for FY2024, fueled by record-breaking gold sales, digital wealth management ecosystem, integrating advanced
robust takaful growth, and a surge in estate planning services. financial advisory services, and strengthening investment
With a strong foundation and forward-looking strategies, and protection solutions. Additionally, RID will drive financial
RID is well-positioned to drive sustained growth and market literacy initiatives and market penetration strategies to ensure
leadership for Islamic wealth management in 2025 and greater accessibility and customer empowerment, reinforcing
its position as a market leader in Islamic wealth management.