Page 86 - Bank Muamalat_AR24

84 BANK MUAMALAT MALAYSIA BERHAD

STAKEHOLDER ENGAGEMENT

BUSINESS PARTNERS
Purpose of Our Engagement: Our Engagement Approach:
• To ensure mutual understanding and alignment of goal, objectives, and • Online communications: Emails, corporate website, and social media
expectations for better collaboration, more efficient operations, and improved • Formal and informal engagements
customer service • e-Procurement system
Stakeholders’ Expectations: Responses:
• Fair and equal evaluation of vendors and their proposals • Supported local vendors
• Fair conditions for both vendors and the Bank • Provided convenient access to procurement systems
• Effective and timely communication on new policies, guidelines, or strategies to • Conducted engagement sessions to ensure vendors’ understanding of the
ensure optimal performance procedures, processes, guidelines, and expectations of deliverables and their
• Transparent reporting and disclosure to ensure smooth collaboration with potential quality
partners • Ensured fair procurement practices and transparent vendor selection
• Established a dedicated tender committee to ensure the objectives of the
engagements are achieved
Related Material Matter: Related UN SDGs:
Economic Carbon Financial
M1 M3 M10
Performance Management Inclusion

Responsible Procurement
M12 M13
Financing Practices
REGULATORY AGENCIES & STATUTORY BODIES
Purpose of Our Engagement: Our Engagement Approach:
• Ensure the Bank stays updated on changes and developments that affect the • Online communications: Emails, corporate website, and social media
sector, maintains operational efficiency, and complies with legal and regulatory • Formal and informal engagements
requirements • e-Procurement system
• Collaborate and participate in policy formulation and national development
initiatives that have a positive impact on the overall economy
Stakeholders’ Expectations: Responses:
• Compliance with all legal and regulatory requirements • Continuously updated our systems and processes to meet current
• Good corporate governance compliance and risk requirements
• Transparent reporting and disclosures • Ensured compliance delivery, risk management, and governance that meet
• Participation and contribution to industry and regulatory working groups regulatory requirements
• Integrated Value-based Intermediation elements into risk management
practices
• Ensured timely and transparent reporting to regulatory agencies and
statutory bodies
• Actively participated in value-based intermediation working groups to
develop a sectoral guide
• Actively participated in Climate Change and Principle-based Taxonomy
(CCPT) working groups to adopt Due Diligence Questions
• Actively participated in the Climate Change and Principle-based Taxonomy
(CCPT) Subgroup for Small Medium Enterprises (SMEs), leading the
development of sectoral guides tailored for high-emitting carbon sectors
within the SMEs sector
Related Material Matter: Related UN SDGs:
Economic Carbon Financial
M1 M3 M10
Performance Management Inclusion

Responsible Ethics and
M12 M14
Financing Integrity