Boosting Hybrid & Electrical Vehicle (HEV) financing HEV financing is a Shariah-compliant option that uses the Murabahah concept, allowing customers to buy hybrid or electric vehicles through instalment payments that incorporate a transparent profit margin. • Increase sales and financing disbursements by enhancing the market share of HEV. • As at December 2023, we had disbursed RM99 million in financing for HEV. • To advance and showcase our commitment, we participated in the Electric Vehicle (EV) Expo 2023 and the Tenaga Nasional Berhad (TNB) Electron EV Show, promoting HEVs as a sustainable transportation solution. Objective: What We Did 2023 RM99.0 million 2022 2023 2022 RM16.6 million Achievements: HEV Units Disbursed Total Value Disbursed 127 units 801 units The Value Created in 2023 In 2023, our commitment to sustainable and responsible finance enabled us to generate substantial value through strategic initiatives and ethical financial practices. We achieved impressive financial results while positively impacting environmental and social well-being, reaffirming our dedication to a more responsible future. 1. Driving Sustainable Finance In 2023, we reinforced our commitment to Sustainability with a strategic emphasis on Hybrid & Electrical Vehicle Financing. Mobilising Shariah-ESG Products & Solutions Shariah-ESG products and solutions integrate the principles of Shariah with ESG criteria to provide ethical and sustainable financial products and services. These encompass Shariah-compliant financing for green and climate positive companies and projects. • Promote ethical, sustainable, and responsible investing while providing a wider range of options for investors interested in these principles. • We expanded our range of Shariah-ESG financial products and solutions by including sectors such as waste and water management, in addition to solar. Objective: What We Did Achievements: • Extended more than RM4.5 billion in financing and assets for green sectors and activities including for solar power, other renewable energy, sustainable waste management and sustainable agriculture. 110 Bank Islam Malaysia Berhad ◆ Integrated Annual Report 2023 Economic Impact
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