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MANAGEMENT
DISCUSSION & ANAlYSIS

plan and the Anti-Bribery and Corruption Policy. The Group
is targeting to be accredited with ISO 37001 Anti-Bribery
Management Systems (“ABMS”) certification in the fourth
quarter of 2021.
A host of virtual e-learning and trainings for Directors
and employees were organised during the year to cover
trending compliance topics. For example, Takaful Malaysia
conducted the following e-Learning modules applicable to
INTEGRATED ANNUAL REPORT 2020 • Anti-Money Laundering and Countering Financing of
all its employees in 2020:

Terrorism (“AML/CFT”)
ETHICAL PRACTICE & • Personal Information Record Management Framework
(“PIRMF”) Awareness
• Anti-Corruption Framework (“ACF”) Acknowledgement/
REPORTING Declaration
78 • Internal Shariah Governance Policy
• Fraud Management Policy
• Climate Change and Principle-based Taxonomy e-Learning
BIMB HOLDINGS BERHAD 199701008362 (423858-X) our operating units. Abiding by the evolving laws and regulations by Details on the Group’s Governance initiatives are covered in
Adhering to governance
• Operational Risk Management Framework e-Learning
BHB ensures the highest standards of governance are practiced by
keeping track of the regulatory changes and developments ensures
pages 120 to 147.
that we steer clear of any adverse impact in conducting our business
in a responsible manner. We stay on top of the guidelines, policies
Earning industry acclaim
and frameworks implemented by the administrative and regulatory
bodies to sustain our competitive advantage in providing better
The Group and its subsidiaries were acknowledged for its
value to the customers and maintaining transparency in our business
responsible financial performance through various industry
operations and dealings.
recognised for its improved reporting and transparency via
Our business operations adopt high standards of ethics and
two highly cherished awards during the year under review.
compliance throughout their operational activities as well as functions recognitions and awards during the year. BHB has been
These were the ASEAN Asset Class Award at the 2019
and implements internal controls to minimise the risk of breaches and ASEAN Corporate Governance Scorecard Award by Minority
penalties within a reasonable tolerance. It is part of our on-going initiative Shareholders Watch Group (“MSWG”), and subsequently,
to nurture an appropriate compliance culture within the Group by the Industry Excellence Award at the MSWG-ASEAN
conforming to the laws, regulations, guidelines and specifications Corporate Governance Awards 2019.
relevant to our business processes and industry’s best practices. Our
businesses continue to be guided by industry-relevant Sustainability For the second time since 2015, Bank Islam was named as
policies, Anti-Money Laundering and Counter Financing of Terrorism Malaysia’s strongest Islamic retail bank for 2020 by
(“AML/CFT”) Policy, Personal Data Protection, Fraud and Integrity Cambridge International Financial Advisory (Cambridge
Policy, Whistle Blowing Policy and Anti-Corruption Policy. IFA) at the sixth Islamic Retail Banking Award 2020. The
award recognised the Bank’s continuous focus in providing
The Group is mindful that to govern both business initiatives comprehensive and innovative Shariah-compliant financial
and opportunities, policies and procedures need to be constantly and banking solutions, and demonstrated Bank Islam’s
reassessed apart from incorporating an internal framework to readiness to become the first and only listed Islamic bank
identify, monitor, remediate and report non-compliance incidents as in Malaysia.
part of our commitment to embracing regulatory compliance in our
business operations. Takaful Malaysia was awarded the Highest Returns to
Shareholders Over Three Years and the Highest Return
In 2020, in conjunction with the introduction of Section 17A of the on Equity Over Three Years awards at the annual awards
Malaysian Anti-Corruption Commission Act and the National Anti- ceremony of The Edge Billion Ringgit Club 2020 (“BRC”)
Corruption Plan (“NACP”) that came into effect on 1 June 2020, BHB organised by The Edge Media Group.
and our key operating subsidiaries have also established the action