2 Financial Inclusion for Underserved Businesses Since 2020, the Bank has ventured into social finance to assist underbanked micro-entrepreneurs to have access to commercial banking facilities to enable better growth for their businesses, by launching two iTEKAD Microfinance programs (iTEKAD Maju and iTEKAD BangKIT). iTEKAD microfinance is a social finance programme initiated by Bank Negara Malaysia (BNM) to assist lowincome microentrepreneurs in improving their financial management and business skills for sustainable income generation. The programme combines social finance instruments such as donations, social impact investment, zakat and cash waqf to fund the provision of business assets, microfinance, and structured financial and business training. Recently, BIMB renamed the program to iTEKAD Maju. The bank collaborates with implementation partners like State Religious Council and change makers to identify potential asnaf and B40 entrepreneurs to participate in the program. Meanwhile, iTEKAD BangKIT is similar to the iTEKAD microfinance programme by BNM but is an initiative by BIMB. Features BangKIT Maju Contract Qard Tawarruq Financing amount Min RM5,000 Min RM20,000 Financing tenure Min 6 months, max 36 months Min 12 months, max 60 months Profit rate 0% 4% p.a. fixed rate Impact & Achievements: iTEKAD Programmes No. of micro-entreprenuers Total Contributions (RM) iTEKAD Maju 192 5,256,000 iTEKAD BangKIT 374 4,634,000 Total 566 9,890,000 3 Overall Impact & Achievements In 2022, BIMB is proud to have made significant contributions towards community enrichment. We are immensely proud of the impact that Sadaqa House has had on our community, and we remain committed to upholding our values of social responsibility and community engagement. Sustainability Statement Bank Islam Malaysia Berhad 139 01 05 03 07 02 06 09 04 08
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