Bank Muamalat joins GABV network

Institution : International Shariah Research Academy for Islamic Finance - ISRA, ISRA International Consulting Sdn Bhd, Abdul Raman Saad & Associates
15 January, 2018      460



KUALA LUMPUR: Bank Muamalat Malaysia Bhd has joined The Global Alliance for Banking on Values (GABV), a network of the world’s leading values-based banks.

Bank Muamalat was officially accepted as a member of GABV on November 15 last year.

 “Signaling a growing appetite for the values-based banking movement, Bank Muamalat has become the first Islamic bank in the world and the first one in Southeast Asean region to be accepted as a member of Global Alliance for Banking in Values (GABV),” the bank said in a statement yesterday.

 “Being an Islamic bank, Bank Muamalat believes it carries greater responsibilities to influence a social change and creating values to the people and the planet, over and above its usual profit oriented banking activities. 

“As part of the initiatives to support its mission, Bank Muamalat has explored the opportunity to join GABV to widen its exposure in sustainable banking practices and to learn from other members of GABV which have established their footprints in value based banking activities in their respective countries,” Bank Muamalat explained.

 By being part of GABV, Bank Muamalat will also be able to share the international best practices with VBI’s community of practitioners in our efforts to position Malaysian Islamic banking to become more prominent and as a leading agent to generate positive and sustainable impact to the economy, community and environment.

 Bank Muamalat is a member of the DRB-HICOM Bhd.

The group owns 70 per cent of the bank’s shares with the remaining 30 per cent is held by Khazanah Nasional Bhd.

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