Page 116 - Bank Muamalat_AR24

114 BANK MUAMALAT MALAYSIA BERHAD

SOCIAL

Key Actions and Outcomes

1. iTEKAD Programme Expansion Beyond housing, the Bank continued to offer accessible
financing options to meet essential needs such as motor
The Bank continued its efforts to promote financial vehicle ownership and cash flow improvement, thereby
inclusion by implementing targeted initiatives that supporting the financial stability and upward mobility
provide underserved communities, particularly micro of our customers. To ensure reach and scalability,
entrepreneurs, with access to affordable and sustainable we leveraged our network of 70 branches and enhanced
financial services. our digital banking platforms to deliver convenient,
user-friendly, and inclusive financial services across
A key milestone in FY2024 was the successful onboarding diverse customer segments and geographic areas.
of participants under the i-PUSH programme, delivered
as part of the broader iTEKAD initiative in collaboration 3. Bank Bergerak Initiative
with the Pahang State Government. This programme
aims to support entrepreneurship development by The Bank Bergerak initiative offers essential banking
combining financial support with capacity building. services in rural areas, including Ar-Rahnu financing,
inter-bank fund transfers, financing payments, and
During the year, the Bank utilised a total of cash deposits and withdrawals. Through this initiative,
RM1,555,388.56 from the iTEKAD Grant to provide a total of RM4.1 million in financing was processed,
seed capital to eligible micro entrepreneurs. In addition, with 7,931 transactions completed. This service
1,257 participants completed structured training under significantly enhances access to financial services for
the iTEKAD Mahabbah programme, equipping them underserved communities and customers in limited
with essential business and financial knowledge to access and rural areas.
enhance their long-term resilience and income potential.
These initiatives have significantly enhanced financial
2. Enabling Financial Access for All inclusion and economic resilience among underserved
communities. By providing access to micro-financing,
Bank Muamalat continued to play a proactive role in digital banking solutions, and comprehensive support
advancing financial inclusion, aligning with Bank Negara programmes, we empower individuals to achieve
Malaysia’s Policy on Lending and Financing to the financial independence and contribute to inclusive
Priority Sector and the broader national agenda to uplift economic growth. Our efforts underscore our dedication
underserved communities. The initiatives are designed to creating Better Lives, Together with the community,
to extend meaningful financial access to lower and while advancing towards our goal of achieving
middle-income segments while contributing to inclusive sustainable development and fostering a more equitable
economic growth. society for all.

In 2024, the Bank introduced and enhanced targeted 4. Expanding Financial Inclusion through Digital
offerings such as the SMART Mortgage Solution and Innovation
SMART Home Package, aimed at supporting first-time
homebuyers. Bank Muamalat also actively participated Bank Muamalat continues to advance financial inclusion
in national home financing schemes including Syarikat by leveraging digital innovation to provide wider,
Jaminan Kredit Perumahan (SJKP) and Skim Rumah more equitable access to banking services. Through
Pertamaku (SRP), both of which enable access to financing the launch and ongoing enhancement of the ATLAS
for individuals with limited or informal income, such as Digital Banking, we aim to make financial services more
the self-employed and micro-business owners. These accessible, affordable, and user-centric, particularly
schemes provide financing up to RM300,000 (SJKP) and for underserved and mobile-first segments of the
RM500,000 (SRP), with favourable features such as up to population.
110 percent margin of financing and waiver of ancillary
costs.