3. Driving Sustainable Living and Infrastructure Development We strive to leave a positive legacy by promoting sustainable development. Our projects aim to improve living conditions for underprivileged communities while also encouraging responsible resource use and building resilient ecosystems for future generations. 4. Fostering Innovation in Islamic Social Finance We are constantly seeking to push the boundaries of Islamic social finance by actively participating in initiatives like myWakaf 2.0. Through collaborative innovation with other stakeholders, we strive to develop new and impactful solutions that empower communities and drive sustainable development. A. Sakeenah Home Ownership Programme (SakeenaHOPe) To improve living standards amongst underserved communities. We introduced the SakeenaHOPe initiative, a community development project focused on offering affordable housing solutions to underserved populations. Our hybrid funding model, combining bank financing with the Islamic social finance instrument of Zakat, unlocks opportunities for underserved communities to own homes. We have approved 14 applications. We are set to build 40 houses in the next fiscal year, highlighting our commitment to improving living standards in local communities. Objective: What We Did: Progress and Achievements: A. myWakaf 2.0 To increase waqf contributions through the introduction of sophisticated financial instruments. Leveraging our leadership role within the Association of Islamic Banks in Malaysia (AIBIM), we played a critical role in the launch of myWakaf 2.0 at the 18th Kuala Lumpur Islamic Finance Forum 2023. This initiative fosters collaboration with State Islamic Religious Councils to expand the installation of solar dome dryers in select states. Our ongoing myWakaf 2.0 initiative is broadening our reach by introducing innovative financing options and launching the Solar Dome Dryer project, designed to empower communities with affordable and efficient solar drying technology. The first implementation in Kuala Perlis was a success. By partnering with Islamic banks and religious councils, our goal is to enhance community welfare and stimulate economic growth through effective waqf management. Objective: What We Did: Progress and Achievements: 149 1 2 3 4 5 6 7 8 9 www.bankislam.com SUSTAINABILITY STATEMENT
RkJQdWJsaXNoZXIy NDgzMzc=