Page 27 - Bank Muamalat_AR24

ANNUAL REPORT 2024 1 2 Message from Leadership 3 4 5 6 7 8 25

Cybersecurity was a key priority in view of rising technology
and cybersecurity threats. To this end, the Board endorsed
the establishment and operationalisation of the Technology
Risk Management Framework (TRMF) and the Cyber
Resilience Framework (CRF), which set the foundation
for structured identification, assessment, mitigation, and
governance of technology and cybersecurity risks, in line
with BNM’s Risk Management in Technology (RMiT) policy.
Together with this, a Cybersecurity Strategic Plan was
approved to support the Bank’s digital transformation journey,
aligning technology risk priorities with business growth
requirements.
A heightened focus will be placed on reinforcing robust risk
Acknowledging the evolving landscape of climate-driven
events, social disruption and regulatory shifts, steps were also governance and integrity, ensuring a deeply rooted risk
taken to incorporate sustainability into business continuity culture and secure systems through proactive risk
planning. Guided by international frameworks such as the management, robust compliance, and a zero-tolerance
Task Force on Climate-related Financial Disclosures (TCFD), approach to misconduct.
the Board works closely with management to refine ESG Furthermore, the Bank is committed to championing
metrics and improve data quality, and all progress made on purposeful growth and sustainability, aligning our strategic
this front will be transparently communicated to stakeholders. direction with long-term goals particularly in social finance,
ESG integration, and financial inclusion, thereby ensuring
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our growth is both profitable and responsible. Finally, there
is a strong emphasis on building future-ready human capital
SUSTAINING GROWTH AND PURPOSE and a resilient culture, through continuous investment in
leadership development, comprehensive upskilling initiatives,
The banking industry will continue to be challenging, and embedding a culture of accountability, agility, and
demanding strategic agility. Looking ahead, the Board has collaboration.
clear priorities and expectations for management to secure
a digital future for Bank Muamalat and our stakeholders.
APPRECIATION
The Board’s long-term vision positions Bank Muamalat as a
strong Islamic bank within the Malaysian financial landscape, The Board extends its deepest gratitude to our customers,
delivering sustainable and resilient returns to shareholders shareholders, regulators, and indeed, to the entire Bank
and stakeholders. We are committed to banking services Muamalat team. Your trust, support, and dedication are the
that go beyond profit, supporting inclusive growth and cornerstones of our success. We remain committed to our
helping to close the gap between the financial sectors and shared purpose, steadfast in our values, and confident in our
underserved groups, without compromising shareholder ability to build a more secure and prosperous future for all.
returns. Rest assured that the prevailing theme for this year’s
Annual Report, “Safeguarding Futures, Empowering Lives.”
As an Islamic financial institution, Shariah principles are not resonates deeply with our strategic intent going forward.
merely observed, but actively leveraged to promote financial
inclusion, socio-economic and sustainable development. Wabillahi taufiq walhidayah wassalamu’alaikum wa rahmatullahi
In an increasingly volatile world, Bank Muamalat will focus wa barakatuh.
on ensuring growth is sustainable and resilient, enhancing
risk management frameworks and building financial buffers To Allah we surrender.
to withstand shocks without compromising our foundations.

The Board’s key expectations moving forward encompass TAN SRI TAJUDDIN ATAN, FCB
several critical areas. We expect management to drive Chairman
strategic growth, diversification, and value creation by
anticipating trends and seizing emerging opportunities.