We continued championing financial inclusion, entrepreneurship and social development in 2024, reinforcing our role as a leader in Islamic social finance and sustainable community empowerment. This year, we piloted an alternative credit assessment tailored for underbanked microentrepreneurs, enhancing access to financing for those traditionally excluded from banking services. Our participation in the multi-bank iTEKAD implementation model via AIBIM MyZakat ensured a broader impact on community development. We disbursed RM12.3 million through blended finance, benefiting 413 individuals and strengthening financial resilience at the grassroots level. To further support entrepreneurial success, we conducted Microentrepreneur Development Training Programmes and launched six Hab Usahawan iTEKAD in collaboration with universities, leveraging the Local Community Development (LCD) model. Additionally, we expanded our ecosystem by partnering with funders, NGOs, and banking associations, providing access to working capital, business support, and coaching services under our “funding escalator” initiative. Broadening our social impact, we raised RM2.4 million for the Sadaqa House Orphan Fund, with RM1.4 million disbursed to support education, infrastructure and welfare initiatives for orphans. Our investment in community enrichment increased to RM19.5 million, up from RM12.8 million in 2023. Community Empowerment 04 Broadening our social impact, we raised RM2.4 million for the Sadaqa House Orphan Fund, with RM1.4 million disbursed to support education, infrastructure and welfare initiatives for orphans. We remain dedicated to driving economic prosperity through fostering strategic partnerships, expanding financial access and supporting high-growth sectors. In 2024, we strengthened collaborations with SMEs, NGOs and government bodies to enhance awareness of our tailored financial solutions. Our active participation in key industry events, including the Malaysia External Trade Development Corporation (MATRADE), Malaysia International Halal Showcase (MIHAS) and the Federation of Malaysian Manufacturers (FMM), further reinforced this commitment to economic growth and resilience. To expand financial inclusion, we grew our Ar-Rahnu retail asset presence, commencing operations in 46 branches to provide Shariah-compliant pawn broking services to underserved communities. The Gold Investment Account, launched in October 2024, surpassed its target by 86%, reflecting strong demand for alternative savings options. We also introduced Hal-Cube, an initiative that supports cottage businesses in obtaining Halal certification while providing access to compliant premises and equipment. This programme strengthens microentrepreneurship in the Halal sector, reinforcing Malaysia’s global Islamic finance and commerce leader position. Real Economy 05 Bank Islam Malaysia Berhad ◆ Integrated Annual Report 2024 24 From the Desk of the GCEO
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