Page 114 - Bank Muamalat_AR24

112 BANK MUAMALAT MALAYSIA BERHAD

SOCIAL

M9

COMMUNITY DEVELOPMENT: STRENGTHENING SOCIAL IMPACT THROUGH ISLAMIC SOCIAL FINANCE

Why This Matters
Our commitment to community development is rooted By embedding these principles into our community-focused
in the principles of Maqasid al-Shariah, guided by the initiatives, we aim to address social disparities, uplift
Value-Based Intermediation (VBI) framework, and aligned underserved segments, and promote inclusive growth.
with the United Nations Sustainable Development Goals This integrated approach reflects our belief that lasting
(SDGs). These guiding frameworks emphasise holistic progress can only be achieved when economic advancement
well-being, ethical and responsible financial practices, is paired with social responsibility, ensuring that no one is
and long-term sustainability, values that are central to our left behind.
purpose of Creating Better Lives, Together.

Our Approach
Our approach to community development is driven by that create long lasting impact. Through innovative funding
values and focused on delivering tangible outcomes. We models such as cash waqf, dedicated social funds, and digital
integrate the principles of Maqasid al Shariah and VBI into crowdfunding platforms, we channel resources effectively
every initiative, ensuring that our efforts address real needs while upholding transparency and trust.
in areas such as education, health, economic empowerment,
and social support. By empowering individuals and communities through
structured, inclusive efforts, we aim to build a more resilient
We work closely with stakeholders including State Islamic society and contribute to sustainable development for future
Religious Councils, non-governmental organisations, and generations.
community partners to design and deliver programmes

Key Actions and Outcomes

1. Wakaf Muamalat Initiative 3. Jariah Fund Crowdfunding Portal
In collaboration with various State Islamic Religious Through the Jariah Fund crowdfunding portal, the
Councils, the Bank continued to advance the Wakaf Bank partnered with five selected non-governmental
Muamalat initiative, with the cash waqf fund managed organisations to launch nine campaigns focused on
through a Joint Management Committee. In FY2024, health, education, and economic empowerment.
total waqf collections reached RM897,775.24, while This initiative successfully raised RM90,858.28
RM1,936,605.61 was approved to support 16 projects in FY2024, showcasing the power of collective giving
nationwide, focused on education, healthcare, and in addressing social challenges.
economic empowerment.
4. Creating Better Lives, Together with the Community
2. Tabung Mawaddah Fund through CSR
During the year, the Bank disbursed a total of In 2024, the Bank remained committed to supporting
RM2,041,216 under the Tabung Mawaddah Fund, underprivileged communities through a series of
extending financial assistance to both Asnaf and impactful corporate social responsibility (CSR) initiatives
non-Asnaf recipients. The fund was utilised to address under the theme Better Lives, Together. These efforts
needs in social welfare, education, and health-related were designed to uplift lives and foster meaningful
matters, further strengthening our role in inclusive connections with those in need.
community development.
During the year, the Bank disbursed a total of
RM362,606.00 in donations, benefiting over 9,000
individuals and groups. Recipients included orphans
and orphanages, low-income families, mosques, welfare
homes, schools, educational institutions, and students.
Through these initiatives, the Bank continues to uphold
its role as a responsible and compassionate financial
institution dedicated to advancing social well-being.