THE EVOLVING WORLD OF WORK EXPANDING MARKETS FOR ISLAMIC FINANCIAL SERVICES Utilising AI and IoT to empower the Bank’s digital workforce, balancing flexibility with face-to-face interactions, and effectively managing generational diversity in the workplace. Offering diverse Shariah-compliant options like sukuk and takaful insurance while promoting sustainable finance growth through VBI expansion and social finance instruments for underserved segments such as microentrepreneurs and SMEs. Potential Impact Potential Impact How We Responded How We Responded • Managing the changing dynamics of the postpandemic work environment. • Adapting our approach to talent attraction and retention to align with shifting expectations and associated challenges. • Diversification of financial products and services, resulting in a multitude of options for customers looking for a more ethical and responsible financial solution. • Expanding Bank Islam’s reach and expertise in social finance, creating a more impactful and sustainable model in the long run. • Introduced Flexible Working Arrangement (FWA) where employees have the freedom to work in ways that best suit them. • Implemented a DEI (Diversity, Equity, and Inclusion) policy. • Embedded DEI considerations in all relevant programmes and initiatives. • Introduced the Mudarabah microfinancing initiative through our Centre of Social Finance. • Explored the untapped market for communities that are looking for financial-inclusive solutions. Outlook • Balancing flexibility with in-person interactions is recognised as vital for shaping future work dynamics. • Increasing demand for digital skills in the banking sector with many prioritising digital qualifications. Outlook • An increase in the number of Shariah-compliant products and services that are aligned with sustainability and climate considerations, and increased integrations within the conventional financial offerings. • Increasing market diversity through the expansion of the Islamic capital market to support government funding projects and infrastructure, along with a growing geographical reach into the non-Muslim market. 47 1 2 3 4 5 6 7 8 9 www.bankislam.com MANAGEMENT DISCUSSION AND ANALYSIS – STRATEGIC REVIEW
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