Page 35 - Full Book_24.4.2021

In Retrospect

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The Will to Suceed

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to better position itself in the Islamic finance
and Islamic capital market and capitalise on
both markets’ growth in our efforts to expand
our customer base. With this newly emerged Achieving a Leading Repute
Bank Islam “group”, we can look forward to
enhancing group value proposition plans.
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In the next two years, I envisage the
Bank fortifying resilience in sustaining
post-recovery growth. The immediate
action is to absorb losses while building Paving the Way for a Sustainable Future
reserves. It should continue to observe
strict cost containment discipline and
prioritisation in both operational and
capital expenditure. The Bank will look into
expanding alternative revenue stream
capabilities through fee-based income by
strengthening its local market position and 31
building a winning operating model premised
on our retail-driven portfolio, through
wealth creating solutions.
Islamic banking also has great potential to utilise Islamic social, financial instruments
Through the adoption of VBI into its such as zakat, waqf and sadaqah. These instruments should not be limited to
business model, the Bank aims to propel providing basic needs and livelihoods of the needy or for religious purposes such as
the real economy through eco-system the construction of mosques and madrasahs only. It can be expanded to help the
play for enterprises. Nurturing the Halal underprivileged and the community severely affected by the uncertain economic Adhering to the Best Governance Practices
sector is another key agenda of the Bank, situation, to enable them to be independent and sustainable in the long run.
especially in supporting programmes that For financial institutions to ensure sustainable growth, they must evolve service
lead to halal job creation. Tapping on the excellence, harness digitalisation, adhere to disciplined financial management, and
supply-chain eco-system, the Bank looks engage in performance-based criteria. These are the fundamental yardsticks. In |
forward to further capability enhancements today’s world, this means harnessing digital technologies and creating a unique
for GO Mobile app, enabling connectivity distinct customer experience that builds loyalty. The Group will be focusing and
with GO Biz and BEST Invest apps. spending more on its digitalisation strategy to provide better and faster services to
By persevering digitalisation, the Bank be on par with our competitors. Laying the Foundation for Financial Growth
hopes to catalyse entrance into new markets
and penetrate new segments via new Governance, assessed through regulations, corporate governance, and Shariah
technology and business models premised on governance, also provides an important indicator of the health of the Islamic
digital bank proposition. finance industry’s infrastructure. I fully expect good corporate governance practised
with appropriate controls to maintain consumer and investor confidence in the |
A strong Social Finance initiative is part industry to derive their reorganisation’s intended benefits.
of the Bank’s 2021 Strategic Goals, and
on this front, the Bank strives to facilitate Profits should be balanced with social responsibility – this should be the hallmark
effective wealth circulation. Islamic financial of any Islamic financial institution. Given our DNA, the focus should also be on
instruments could support Malaysia’s growth ensuring service deliverables to our stakeholders and helping them back on their feet Additional Information & Disclosure Summary
towards a high-income country. Through its through sustainable measures. Our commitment to living up to VBI priorities will see
social finance arm, Sadaqa House, the Bank the Bank emphasising helping out customers and business partners to withstand
hopes to uplift social finance nurturing by the economic impact. We will continue to stand by the communities in the face of
growing subscriptions of iTEKAD, BangKIT socio-economic challenges and deliver sustainable values to its stakeholders that |
Microfinance and other innovative sadaqah, ensure the preservation of societal wellbeing, health, and wealth.
waqf and zakat solutions to generate a
more significant impact on the unbankable 24 th AGM Information
target group.