Page 25 - Bank Muamalat_AR24

ANNUAL REPORT 2024 1 2 Message from Leadership 3 4 5 6 7 8 23

ROBUST STEWARDSHIP TOWARDS
A BETTER FUTURE
The Board’s stewardship in 2024 was
defined by a relentless focus to ensure
that the Bank’s strategic agenda remains
responsive to emerging trends –
technological, regulatory, and societal –
while upholding the Bank’s vision which
is to be the preferred Islamic financial
services provider.
Prioritising strategic growth and
digital advancement, the Board oversaw
These challenges prompted a proactive and focused response from both the the rollout of initiatives aligned with the
Board and Management, leading to streamlined cost structures, enhanced capital Bank’s five-year business plan, RISE26+.
allocation discipline, and reorientation of strategic initiatives. These included a sharpened emphasis
on customer-centric innovation, digital
Our contribution to national growth and development in Malaysia was
exemplified by our continued support for the SME communities. A major enablement, strengthening the retail
achievement was our commitment to driving positive change through segment positioning, and demonstrating
iTEKAD, and other social finance initiatives such as Waqf also continued management’s readiness to adapt
to deliver tangible benefits to underserved segments. These efforts are core to our to evolving market dynamics. To this
identity, reinforcing the Bank’s position as a leader in responsible, inclusive finance. end, the soft launch of ATLAS,
the Bank’s digital banking app, during
More details on pages 106 to 115 the year, was a significant step in its
transformation journey as it pioneers
As a result, a robust profit before tax of RM129.3 million was recorded, enhanced digital accessibility and
and assets grew by a healthy 11.8% for the year as the Bank maintained stable seamless banking experiences for our
liquidity, prudently managed credit exposures, and upheld its regulatory capital customers.
ratios.
Key transformation initiatives were
More details on pages 7 and 27 also initiated across credit, payment,
and trade operations, many of which
The progress we made was also externally validated through several prestigious integrated automation and enhanced
recognitions in 2024: fraud mitigation. These steps were
instrumental in improving service
Fastest Growing Digital Transformation Islamic Bank – Malaysia 2024: turnaround, managing operational
Recognised by the International Finance Awards. risk, and safeguarding customer
trust. These investments in critical
Global Recognition as CEO of the Year 2024 – Global Islamic Finance infrastructure upgrades and automation
Awards (GIFA): Honoured our President & Chief Executive Officer, in core operations are already
Khairul Kamarudin, for his visionary leadership. improving efficiency, and are expected

World Islamic Banking Excellence Award – World Muslim Leadership to drive greater scalability and
Forum (WMLF) 2024: Presented in London, acknowledging our customer satisfaction in the medium
commitment to innovative and ethical banking solutions. term.
More details on pages 44 to 49 and
These achievements underscore the Bank’s strong capacity to navigate challenges. pages 93 to 115
They reflect our unwavering commitment to upholding stable fundamentals and
making crucial foundational investments, thereby providing assurance of our ability
to deliver a secure and progressive financial future for our stakeholders.