Page 24 - Bank Muamalat_AR24

22 BANK MUAMALAT MALAYSIA BERHAD

CHAIRMAN’S STATEMENT:
SAFEGUARDING FUTURES,

EMPOWERING LIVES

In the name of Allah, the Most Gracious, the Most Merciful

Peace Be Upon You and Mercy of Allah and His Blessings

TAN SRI TAJUDDIN ATAN, FCB
Chairman

In 2024, Bank Muamalat celebrated
its 25-year journey, reminding us
that our enduring strength and

resilience have always been rooted
in a single, unwavering purpose:
to uplift every Malaysian and shape
better lives. As Chairman of Bank
Muamalat, it is my privilege to

reflect on this year and to share
the Board’s aspirations for the
journey ahead.

2024 MACROECONOMICS AND REGULATION From a governance and risk perspective, the Board closely
monitored the proactive stance of Bank Negara Malaysia
The global macroeconomic environment in 2024 remained (BNM). The issuance of all prudential and market conduct
complex, marked by geopolitical uncertainties and evolving policies, including updates aligned with Basel III reforms,
economic currents. Domestically, Malaysia’s economy underscored the imperative for agile and comprehensive
demonstrated commendable resilience, achieving a robust compliance. Simultaneously, the escalating digital threat
5.1% growth, underpinned by strong domestic demand, landscape made strengthening cybersecurity measures a
healthy investments, and a rebound in exports. This positive paramount Board-level priority, necessitating enhancements
momentum provided a supportive backdrop for the financial to our cyber resilience framework, incident response protocols,
sector, even as it underwent significant transformation driven and data privacy governance. These external factors to
by heightened digital competition and accelerated digital have influenced the Board’s strategic oversight, reinforcing
payment adoption. our commitment to both growth and robust safeguarding
mechanisms.
More details on pages 36 to 37