Page 96 - Bank Muamalat_AR24

94 BANK MUAMALAT MALAYSIA BERHAD

ECONOMIC

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ECONOMIC PERFORMANCE: STRENGTHENING RESILIENCE AND FUTURE-READY GROWTH

Why This Matters
Bank Muamalat operates in an increasingly dynamic and For the broader community, inclusive access to financial
competitive landscape, shaped by economic volatility, rising services and literacy is vital to stimulate local economic
profit rates, and tightening margins. At the same time, the activity particularly for small businesses, gig workers, and
rapid expansion of the digital economy has introduced underserved groups. By designing solutions that cater
new vulnerabilities, including a heightened risk of financial to diverse customer segments, including the B40 group,
crimes, requiring the Bank to maintain strong and proactive asnaf, gig economy workers, professionals, and affluent
cybersecurity capabilities. The emergence of digital-only individuals, Bank Muamalat actively promotes financial
banks further intensifies the need for continuous digital inclusion. At the same time, corporate and commercial clients
innovation to meet evolving customer expectations. are encouraged to embed ESG considerations into their
business models, aligning with national sustainability goals
and global standards.

Our Approach
Bank Muamalat’s strategic direction is guided by RISE26+, the Bank’s five-year business plan aimed at strengthening
performance, resilience, and leadership within the industry. Under this plan, we pursue the following key initiatives:
• Strategic Growth and Futureproofing - To navigate economic uncertainties and margin compression, we have realigned
our deposit structure to focus on low-cost funding sources. This approach supports long-term financial stability by managing
funding costs effectively.
• Strengthening Cybersecurity Capabilities - In response to rising financial crime risks, we have strengthened our cybersecurity
infrastructure and controls, ensuring they remain aligned with industry benchmarks and regulatory expectations.
• Continuous Digital Innovation - To stay competitive amidst the rise of digital banking, we continue to invest in enhancing
our IT systems and digital platforms, providing customers with seamless, secure, and user-friendly banking experiences.
Key Actions and Outcomes

In 2024, the Bank strengthened its efforts to improve • Vehicle Financing – Electric Vehicles (EV): Promoted
financial inclusion and empower diverse customer segments green mobility by offering competitive financing
by offering targeted financing solutions, promoting financial packages for the purchase of electric vehicles.
literacy, and supporting underserved communities. These In addition, the Bank actively promoted financial literacy
initiatives were designed to encourage responsible financial and debt management through a series of briefings,
behaviour, improve access to essential funding, and enhance
the overall financial well-being of individuals, households, seminars, and talks in collaboration with employers,
and small businesses. government agencies, associations, and NGOs. These
programmes aimed to raise awareness on financial
1. Tailored Financing Solutions to Meet Customer Needs planning, responsible financing, and savings habits
among the public.
The Bank delivered a range of Shariah-compliant financial
solutions designed to support various life needs and 2. Financial Literacy and Community Outreach
income groups:
To strengthen public awareness of personal financial
• Personal Financing (PF): Provided for purposes such as management, the Bank conducted a series of briefings,
debt consolidation, education, and financial assistance seminars, and talks in collaboration with employers,
to the B40 group through initiatives. government agencies, associations, and NGOs. These
programmes focused on:
• Home Financing (HF): Supported home ownership
through participation in government-backed schemes • Debt management
such as Skim Rumah Pertamaku (SRP).
• Financial planning
• Ar Rahnu: Offered short-term liquidity assistance • Encouraging savings habits
through a Shariah-compliant mechanism, providing
customers with quick and secure access to funds. • Promoting responsible financing