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DIRECTORS’ REPORT

for the financial year ended 31 december 2020 (continUed)

2021 BUSINESS PLAN AND OUTLOOk
BUSINESS PLAN, STRATEGY AND FUTURE OUTLOOk (CONTINUED)

ISLAMIC BANkING AND TAkAFUL (CONTINUED)

against a strong backdrop of credit metrics with the recent reaffirmation of aa3/Stable/P1 by ram ratings, bimb
holdings is proceeding with its proposed group restructuring exercise that will unlock significant value for shareholders,
as well as transferring its listing status to its subsidiary, bank islam. the exercise will see the bank becoming the only
inteGrated annUal rePort 2020 expansion.
full-fledged islamic financial institution listed in malaysia, having greater access to tap the capital markets for an exciting future

Syarikat takaful malaysia Keluarga berhad (“takaful malaysia”) has been taking necessary and thoughtful steps to strengthen its
business resilience and adjust its operating models in managing the business in a very different market and dynamic operating
landscape. takaful malaysia remains vigilant and cautious in managing operating costs, business growth, and portfolio risk.
as a pioneer and early adopter of online distribution and new digital technologies supporting our distribution channels, we can
reduce some sales and operational challenges faced during the covid-19 pandemic period. our digital and technologic capabilities
have enabled us to maintain uninterrupted business services to all our sales intermediaries, bank partners, and customers.
notably, we have a wide range of online takaful products that customers can easily access our affordable online takaful solutions
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at their fingertips especially during the covid-19 outbreak. We have increased our social media presence to cross-sell our online
products, especially targeting the customers who may not have access to intermediaries for face-to-face selling.
in sustaining its market-leading position and to support business growth and customer-centricity, takaful malaysia will continue with its
bimb holdinGS berhad 199701008362 (423858-X) capabilities, strategic partnerships with leading islamic banks and brand awareness initiatives.
innovative strategies via the implementation of its digital strategy, online solutions and digital ecosystem, expansion of its distribution

AUDITORS
the auditors, Pricewaterhousecoopers Plt (llP0014401-lca & af 1146), have expressed their willingness to accept reappointment
as auditors.
the details of the auditors’ remuneration are set out in note 39 to the financial statements.
this report was approved by the board of directors on 14 april 2021.
Signed on behalf of the board of directors:

TAN SRI AMBRIN BIN BUANG NORAINI BINTI CHE DAN
director director

Kuala lumpur
14 april 2021