The Vision for the Future As we accelerate the adoption of technology and implementation of initiatives that are transforming the way we operate and improving how people access information and services, we require increasingly robust security measures and modernisation of our approach to complement our digital transformation journey. Our Bank-wide strategy for this year is to continue fortifying the security of the Bank’s data and information systems. This includes achieving a balance between embracing digital opportunities, including making information more accessible and widely available, and ensuring that adequate levels of protection are in place. This strategy demonstrates our commitment to further developing and deploying a wide range of initiatives, from enhancing foundational building blocks of risk management and hygiene to the most sophisticated approaches such as a Zero Trust Cybersecurity Framework. CLIMATE RISKS AND OPPORTUNITIES Bank Islam has prioritised the climate agenda through the initiation of an ESG and climate-related risk management project in 2021, which has followed through into the present. The project has been carried out over three phases, where we are currently in Phase 3 that addresses key priorities including regulatory requirements. We understand the critical need to build economic resilience against climate risks, both physical and transitional, that involves managing the exposure of our business activities and operations to climate-related risks. Our aspirations on addressing climate change include consideration for a just transition, to ensure effective and impactful sustainability and climate initiatives with consideration for our social responsibilities. Elements of our ESG and climate-related risk management framework included initiating a gap analysis and putting into place building blocks of customer due diligence, physical and transition risk mapping and initiating climate risk stress testing. These steps not only align with regulatory expectations and industry best practices for managing climate-related risk but also underscore the bank’s commitment to responsible risk management. 161 1 2 3 4 5 6 7 8 9 www.bankislam.com SUSTAINABILITY STATEMENT
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