DATA PRIVACY AND SECURITY Data privacy and security has become a pervasive concern for our stakeholders as technology continues to change how data is collected, processed, used, and stored. This continues to be a key priority for Bank Islam to maintain our customer’s confidence and comply with a myriad of laws and regulations in a data-driven world. At Bank Islam, we recognise data as a strategic asset and leverage on a risk-based approach in governing and managing data through its lifecycle. As a trusted provider of banking services, our customers are our key priority, and we deploy customercentric security measures to robustly manage risks surrounding data privacy and security. The Overall Approach Central to our approach is respect towards the stakeholders’ interests, placing their information security at the forefront of our decisions. In a rapidly evolving landscape shaped by data and technology, we remain proactive in addressing emerging risks associated with technologies like cloud computing and Artificial Intelligence (AI). Beyond adhering to privacy principles, as a regulated financial institution, we have a mandate to uphold customer confidentiality and ensure the robust security of their data. Our vigilance extends to monitoring customer feedback and staying abreast of potential regulatory concerns regarding data breaches. Our commitment towards ethical and responsible use of data is reflected in our operating model below: Governance through Established Framework, Policies, and Guidelines: Our comprehensive suite of framework, policies and guidelines provide the Bank with a robust structure and approach to governing and managing data throughout its lifecycle. These are regularly updated to ensure compliance with data protection laws and regulations (e.g., Personal Data Protection Act 2010) including alignment with latest industry standards and best practices. Use of Technology and Security Measures: We actively invest in technologies and implement robust security measures to protect data against unauthorised access, theft, manipulation, and loss. These range from basic security measures to the most sophisticated defences, which includes building a Zero Trust Cybersecurity Framework. Privacy and Security Culture at the Forefront: We actively foster and implement a corporate culture that puts privacy and security at the heart of the Bank. This includes ongoing training and awareness initiatives for our employees and third parties to equip them with the knowledge and skills to identify and manage risks surrounding privacy and security. We emphasise the importance of informed risk management and encourage employees to report any suspicious activities. This multi-faceted approach enables the Bank to maintain our customers’ trust whilst complying with legal and regulatory requirements against a rapidly evolving data protection landscape. 159 1 2 3 4 5 6 7 8 9 www.bankislam.com SUSTAINABILITY STATEMENT
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