HUMAN CAPITAL The economic value of BIMB’s intangible human assets such as knowledge, experience, and skills. Inputs • 4,744 total employees: – 2,433 males and 2,311 females • RM784 million in staff costs • RM9.7 million invested in training that supports strategic themes and material issues Key Constraints • Employees across the board face challenges in understanding, adopting and adjusting to the five-year LEAP25 strategy and change initiatives. • Change fatigue arising from digital, operational and cultural strategic transformation objectives. • Expect new technology and infrastructure to support a conducive work environment, and recognition beyond financial compensation. Actions to Enhance Outcomes • Establish the Bank Islam Digital Academy to build digital understanding and drive digital adoption amongst the workforce; to develop, implement and scale up immersive programmes; provide complete suite learning programmes grounded in day-to-day application to real-world business challenges. • Introduce The Digital Young Leaders Programme (YLP), a special management training programme to develop future digital leaders in BIMB. • Bank Islam Live Well Programme focuses on aspects of Emotional and Mental, Financial, and Spiritual Wellness. • Adopt the #Flexwork practice to empower staff in planning their work to increase productivity and create an agile, flexible, hybrid work environment; opened BITIZone@L10, an entire floor of co-working and hot desking workspaces at Menara Bank Islam to promote collaboration and innovation. • Strengthen our risk culture and elevate the risk and compliance culture practice to achieve a sustainable mindset change. • Enhance employer branding and developing young talent through the Bank Islam Youth Ambassador (BIYA) Programme to nurture and mentor young graduates. Outputs/Outcomes 2022 2021 Employee Retention Rate 95.9 96.6 Employee Satisfaction Score (%) 88 57 Salaries & Benefits (RM ’million) 784 698 No. of Employees Trained 4,677 5,069 No. of Employees Promoted 489 423 Average Training Per Employee (man-hour) 35 52 Health and Safety Incidents 145 48 No. of Fatalities (COVID-19 or Others) 0 0 Integrated Report 2022 34 Performance by Capitals Our comprehensive and integrated approach leverages six financial and non-financial capitals to drive our long-term success. By thoroughly assessing the availability and quality of capital inputs, balancing short-term and long-term considerations, and making strategic trade-offs, we strive to create sustainable long-term value that benefits all stakeholders.
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FAQs
KUALA LUMPUR, Wednesday, [28 February 2024]: Bank Islam Malaysia Berhad (Bank Islam or the Group) registered a net profit of RM553. 1 million for the financial year ended 31 December 2023 (FY2023), an improvement of 12.5% over the previous year.
What is the cumulative limit for Bank Islam? ›
You can set your preferred limit from RM0. 00 to a maximum limit of RM250. 00 via 'Quick Transfer Limit Daily'. Any transaction which exceeds the daily cumulative limit of RM500.
What is account balance in Bank Islam? ›
Your account balance is the total amount of money that is currently in your account, including any pending transactions (e.g., debit card purchases that have not cleared).
How to register Bank Islam online? ›
Login to https://www.bankislam.biz ;
- Click “FIRST TIME USER”;
- Read on Terms and Conditions;
- Click at ATM/Debit Card;
- Enter your ATM/Debit Card 16 digits number and ATM PIN;
- Create USER ID, Password and other details on screen;
- Confirm the information and click “Confirm”;
Net profit for Islamic banks rose by more than 50% in 2021, with banks in the Gulf achieving particularly strong results. Customer deposits continued to expand, funding the growth of financing portfolios. In addition, IFIs saw the benefit of digital and technological investments that helped control operating expenses.
Is Islamic banking making any profit for the bank as well as the customers? ›
Islamic banks make a profit through equity participation, which requires a borrower to give the bank a share in their profits rather than paying interest. Some conventional banks have windows or sections that provide designated Islamic banking services to their customers.
How much money can be kept in one bank account? ›
There is no limit on how much money you can keep in a savings bank account. However, banks have a minimum balance requirement that needs to be maintained in your savings bank account.
What is the profit margin of Islamic bank? ›
In the 2nd quarter of 2016, the average net profit margin of Islamic banking worldwide was equal to 40.2 percent.
What is the maximum amount of money I can keep in my bank account? ›
There is no maximum limit, but your checking account balance is only FDIC insured up to $250,000. However, as we'll cover shortly, it makes sense to put extra cash somewhere it will earn interest.
What is the profit rate of Bank Islam Savings Account? ›
0.25% to 0.45% p.a.
Bank Islam offers Qard Savings Account-i facility for you to save your money. Based on Qard contract, this facility provides hassle – free safekeeping of your money and allows easy access for withdrawals whenever needed.
How to transfer money from Bank Islam to other bank? ›
Bank Islam cardholders can also perform online funds transfer through other Bank's ATM under MEPS network. Type of transfers allowed include: From Bank Islam account (CA/SA) to other Bank Islam account and. From Bank Islam account (CA/SA) to other account of different Bank with ATM at the ATM's owner Bank.
Does Bank Islam have mobile app? ›
Description. Welcome to our GO by Bank Islam mobile banking application that enables you to enjoy banking conveniently with Bank Islam.
Who can open Islamic bank account? ›
Eligibility
- Eligible Person. Malaysian citizens and permanent residents.
- Minimum Opening. RM20.
- Minimum Balance. RM20.
- Age Requirement. Open to all.
The global Islamic finance industry has increased its assets size by 11% to US$4.5 trillion in 2022, according to the recent ICD -LSEG Islamic Finance Development Report 2023.
Why Islamic banks are less efficient? ›
Bank efficiency is measured by overhead cost and the cost/income ratio, which indicate that Islamic banks have significantly higher overhead cost but only a marginally higher cost-to-income ratio. Asset quality is assessed using loss reserves, loan loss provisions, and nonperforming loans.
What does Islam say about financial problems? ›
God will provide as He is the All-Provider.
“..and be good to parents, and do not kill your children because of poverty – We will give provision to you, and to them,” [Quran 6:151]. God is the provider of all. A true believer does not fear poverty because they trust that God will provide for them.
Is Islamic banking good for growth? ›
The results show that, notwithstanding its relatively small size compared to the economy and the overall size of the financial system, Islamic banking is positively associated with economic growth even after controlling for various determinants, including the level of financial depth.
