FOR THE COMMON GOOD: OUR COMMITMENT TO SOCIAL FINANCE BIMB has worked hard to play its part in helping our customers and society bounce back after the challenges of the last two years, but we want to do more. Social finance has always been one of the Group’s key strengths and we aim to expand our reach and impact as we move forward. Under the LEAP25 strategy, BIMB set a target of reaching 3,000 social finance beneficiaries by 2025. The strength of demand for our social finance services and the effectiveness of our delivery, however, have already seen us exceed that target in 2021 and we have now revised the goal for 2025 to 5000 recipients. One of the most impactful ways in which we have been able to support vulnerable or f inancially underserved members of society has been through our iTekad and BangKIT microfinance programmes. The innovative iTEKAD programme, which was established by BNM in 2020, combines social finance instruments, microfinancing and capacity building assistance to help B40 micro-entrepreneurs generate a sustainable income. During the year, we launched BangKIT, BIMB’s own microfinance and capacity building programme. These schemes provide an important pathway for unbanked micro-entrepreneurs to move into the formal banking sector. We have also continued to strengthen Sadaqa House, our platform for philanthropic social finance through zakat and waqf, by diversifying and magnifying the channels through which it can positively impact the community. In 2021, we continued to diversify collection channels through digitalisation and strengthened strategic partnerships with government bodies and private sector players. Sadaqa House collected RM3.3 million in new funds during the year, and disbursed a total of RM3.6 million, to 4,765 beneficiaries. Since its launch in 2018, Sadaqa House has collected more than RM9.0 million and we aim to raise the figure to RM40 million by 2025. We are also working to strengthen our contribution to the waqf, or Islamic endowments, sector. Our Makmur MyWakaf investment fund contributed RM80,000 to the myWakaf initiative of the Association of Islamic Banking and Financial Institutions Malaysia (“AIBIM”). This collaboration will be strengthened in the year ahead with the launch of myWakaf 2.0. Additionally, we launched the Awqaf Ummah Financing Programme to provide financing for affordable housing schemes in cooperation with the various State Islamic Religious Councils (“SIRCs”). As BIMB moves forward, we aim to build on our strength in social finance, both through expanding the quantum of funding and widening the channels and products through which we are able to reach the underserved. POSITIVE IMPACT FINANCING BANK I SLAM MALAYS IA BERHAD 124
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