Page 89 - Bank Muamalat_AR24

ANNUAL REPORT 2024 1 2 3 4 5 Sustainability Statement 6 7 8 87

SUSTAINABILITY MATTERS

MATERIALITY ASSESSMENT METHODOLOGY Our 3-stage assessment includes:

As a responsible financial institution committed to sustainability, Identify
Bank Muamalat recognises the importance of identifying and
prioritising the material issues that are most relevant to our We begin by reviewing previously identified material
stakeholders and business operations. Our goal is to create topics and analysing current trends and emerging
long-term value while addressing short- and medium-term issues. This includes engaging with stakeholders to
concerns by focusing on matters that significantly influence gather their insights, expectations, and concerns,
our economic, environmental, social and governance (EESG) as well as referring to sectoral benchmarks and
impact. industry best practices.

To guide this process, we have adopted a structured three-step Evaluate
materiality assessment approach. This methodology allows us The identified matters are then assessed based on
to pinpoint key sustainability matters that affect our operations, their relevance to our stakeholders and their potential
financial performance, and contributions to stakeholders. By impact on the Bank. This evaluation is guided by
doing so, we ensure that our sustainability reporting remains established standards such as Bursa Malaysia’s Main
transparent, accountable, and focused on issues that matter Market Listing Requirements.
most.
Prioritise
In 2024, we conducted this process through a comprehensive Finally, we prioritise these issues by considering their
3-stage assessment to better align with evolving stakeholder significance to both our business objectives and
expectations and our business strategy. stakeholder interests. This ensures our focus remains
on the areas with the highest impact, aligning our
sustainability efforts with what truly matters.

OUR IDENTIFIED MATERIAL MATTERS AND OUR COMMITMENT TO THEM

Taking into account the UN SDGs, the Bank has identified the most significant material matters for our business and
stakeholders under the EESG pillars as follows:

ECONOMY
Material Matter Our Commitment Relevant Goal and Standard

• Align the Bank’s strategic directions, business, and Goal:
M1 Economic Performance
operations
• Develop strategies and initiatives to help the
M2 Entrepreneur Development
underserved segments that drive the local
economy, i.e., micro, small, and medium- sized Standard:
enterprises and entrepreneurs • GRI-103:
Management Approach 2016
• GRI-201:
Economic Performance 2016