Page 105 - Bank Muamalat_AR24

ANNUAL REPORT 2024 1 2 3 4 5 Sustainability Statement 6 7 8 103

Actions and Outcomes

In 2024, the Bank strengthened its ethical framework and The Muamalat Ethics Line reporting channels:
ensured continuous engagement with employees and
stakeholders through the following initiatives:
• Enhanced whistleblowing mechanisms - The Muamalat Hotline:
Ethics Line continued to serve as a trusted and confidential 03-26167111
channel for reporting misconduct. To improve awareness,
the Bank conducted eight engagement sessions across
regional offices and branches, complemented by visual How We handle Whistleblowing
messaging through banners, screensavers, and ATM
displays. START
• Policy updates and enforcement - The Bank revised its
Whistleblowing Policy to strengthen governance over Recieve whistleblower disclosure via the Muamalat
reporting and investigation procedures. In parallel, updates Ethics Line
to the Industrial Relations SOP addressed compliance with
AML/CFT processes and clearly outlined the consequences BDO Malaysia assesses the disclosure
of non-compliance.
• Reports and resolutions - In 2024, a total of eleven reports Valid No END
were submitted through the Muamalat Ethics Line, covering
issues including misconduct, negligence, and bribery. Yes
All reports were reviewed, and cases requiring further BDO Malaysia* escalates the disclosure to the Chief
attention were escalated to the Bank’s Audit Committee Internal Auditor (CIA) and/or the Chairman of the
for deliberation and appropriate action. Board Audit Committee (BAC)
• Comprehensive staff training - All employees were
required to complete mandatory ABC training. Targeted Valid No END
trainings were also conducted to address specific risk
areas within selected business units. These efforts have Yes
helped maintain a high level of awareness across the The CIA/Chairman of BAC instructs for investigation
organisation.
• Vendor governance and transparency - Vendors were The investigation team conducts an investigation and
required to sign declarations on conflict of interest and reports to BAC
commit to the Bank’s Code of Conduct, reinforcing shared
accountability in maintaining ethical standards. Vendor BDO Malaysia notifies the outcome of the disclosure to
engagement continued to be guided by principles of the whistleblower
fairness, transparency, and zero tolerance for corruption.
Bank Muamalat’s continued focus on ethics and integrity END
underscores our commitment to being a responsible and
trusted Islamic financial institution. Through enhanced * BDO Malaysia is an independent third party engaged
governance, robust training, and transparent communication, by the Bank to manage the Muamalat Ethics Line.
we strive to foster a culture where ethical conduct is not
only expected but deeply embedded in every aspect of our
operations.