KUALA LUMPUR, March 10 (Bernama) -- Bank Muamalat Malaysia Berhad (Bank Muamalat) and Malakoff Corporation Berhad (Malakoff) yesterday announced their strategic collaboration aimed at promoting Environmental, Social, and Governance (ESG) initiatives in Malaysia. This collaboration supports the Malaysia Budget 2023 initiative and demonstrates the commitment of both organisations towards promoting sustainable practices in the country.

The collaboration will focus on financing programmes for Renewable Energy (RE), specifically Solar Photovoltaic System , Battery Energy Storage System and Electric Vehicle Chargers to support the growth and development of sustainable energy solutions in the country. The programme will provide financing options for busi  nesses and individuals looking to adopt RE, helping to reduce the country's carbon footprint and support the transition to a more sustainable future.

"We are proud to be partnering with Malakoff to bring ESG to the forefront of our customers' minds," said Khairul Kamarudin, President & Chief Executive Officer (PCEO) of Bank Muamalat. "Bank Muamalat is the first bank to offer eco green financing through various innovative solutions such as personal financing, mortgages, credit cards and car financing that are tailored to the needs of the customer. Our aim is to provide our customers with the best possible financial services and support their journey towards a better life. This partnership is just one of the many ways that we are demonstrating our commitment towards #BetterLivesTogether and a sustainable future for all Malaysians."

Speaking on the collaboration, Malakoff ’s Managing Director/Chief Executive Officer (MD/CEO) Anwar Syahrin Abdul Ajib said, "Malakoff thrives to be the partner-of-choice in providing green and innovative energy solutions in the country. We are committed towards championing the Nation’s transition towards greener energy sources as the Group continues to expand its RE portfolio while providing sustainable energy solutions, in line with its target of achieving Net Zero Carbon Emissions by 2050. Through this strategic alliance with Bank Muamalat, we are confident that not only will it help make cleaner energy adoption more accessible and affordable for businesses and individuals, but also serve as a catalyst in instilling environmental awareness among Malaysians and  contribute to the growth of sustainable living.”

This collaboration between Bank Muamalat and the country’s largest independent power producer and environmental management company is an important step towards driving the country’s sustainability ambitions while providing innovative financing solutions to advance the transition to green energy.

About Bank Muamalat Malaysia Berhad

Bank Muamalat is a leading Islamic bank, established on 1 October 1999, and is governed by Islamic Financial Services Act 2013 (IFSA). As a full-fledged Islamic financial institution, the bank offers its customers a broad range of services, meeting the needs of both individuals and institutions/corporate.
 
In essence, Bank Muamalat provides individuals with services ranging from deposit accounts, asset management, financing needs for automobiles, housing and personal use. The Bank offers corporate and institutional customers the full product range of a leading corporate and investment bank, from cash management, payment solutions including trade and export finance, financing and capital market transactions. 
 
Bank Muamalat has presence nationwide via a network of 68 branches. In addition, Bank Muamalat also has its electronic channels encompassing i-Muamalat (the Bank’s internet banking solution) and it’s Self Service Terminals (SST) which are available at almost 141 locations through its network of ATMs, CDMs and CICOs. We also provide internet banking at your convenience.
 
Bank Muamalat is a member of the DRB-HICOM Berhad Group which owns 70% of the Bank’s shares with the remaining stake held by Khazanah Nasional Berhad.
 
Bank Muamalat was officially accepted as a member of Global Alliance for Banking on Values (GABV) on 15 November 2017. Signaling a growing appetite for the values-based banking movement, Bank Muamalat is the first Islamic bank in the world and the first in Southeast Asian region to be accepted as a member of GABV.
 
About Malakoff Corporation Berhad
 
MALAKOFF CORPORATION BERHAD is a multinational Power, Water and Environmental & Waste Management Services Group with core focus in power generation, water desalination, Operations & Maintenance (“O&M”) and environmental solutions. In Malaysia, Malakoff is the largest Independent Power Producer (“IPP”) with an effective generating capacity of 5,342 MW and effective renewable energy generating capacity of 39 MW. Through Alam Flora Sdn Bhd, Malakoff is also the country’s biggest environmental services company, managing solid waste volume of 5,548 tonnes per day.
 
Malakoff’s international assets include power and water ventures in Saudi Arabia, Bahrain and Oman, with an effective power generation capacity of 588 MW and water desalination capacity of 472,975 m^³/day. Malakoff is also actively looking to venture further into the Middle East and North African region as well as the South-East Asian markets.
 
Through its wholly owned subsidiary, Malakoff Technical Solutions Sdn Bhd, Malakoff has involvements in O&M services locally and in Saudi Arabia, Oman and Indonesia. Malakoff’s subsidiary, Alam Flora, provides comprehensive environmental solutions beyond waste management and public cleansing to its concessions in the Federal Territories of Kuala Lumpur and Putrajaya as well as the state of Pahang.
 
Malakoff believes in working together with all stakeholders in productive partnerships. As such, the Group takes pride in being a responsible operator and a good corporate citizen in all communities where it operates.

Source: Bank Muamalat Malaysia Berhad

FOR MORE INFORMATION PLEASE CONTACT:
Bank Muamalat
Name: Syahida Azureen
Tel: +6012 242 3696
Email: syahida.azureen@muamalat.com.my 

Name: Nazrul Hafizi
Tel: +6017 921 1384
Email: mohd.nazrul.hafizi@muamalat.com.my 
 
Malakoff Corporation Bhd
Name: Suriati Mohammad Mokhtar
(Head, Corporate Communications)
Tel: +6012 226 5799
Email: suriati.mokhtar@malakoff.com.my  

--BERNAMA