Dato’ Mohd Muazzam Mohamed, President Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) and Group Chief Executive Officer, of Bank Islam Malaysia Berhad unveiled the third Value-based Intermediation Report 2022 with key highlights showing the Islamic banking industry has intermediated RM16.51 billion in net zero or green financing and RM61.55 billion in social financing.
The report also featured RM50.34 billion in VBI deposits, investment, and other bank accounts whilst RM184 million was contributed via zakat, sadaqah, iTEKAD, waqf, CSR, and charities. The VBI Community of Practitioners (CoPs) which comprises sixteen Islamic banking institutions that are members of AIBIM is at the forefront of advancing sustainable finance
through the development of VBIAF Sectoral Guides. Encik Rizal IL-Ehzan Fadil Azim, Chairman of 3rd Cohort of VBIAF Sectoral Guide Working Group and Chief Executive Officer, of Alliance Islamic Bank Berhad said “There is an increased expectation for businesses to be aware of and address material Environmental, Social, & Governance (ESG) matters.
The third set of sectoral guides is currently in development for agriculture, mining and quarrying, road transportation, and waste management, and is expected to be released by the end of
The current set of guides also plays a vital role in aligning the VBI and climate risk initiatives by including detailed case studies that address BNM Climate Change and Principle-Based Taxonomy (CCPT) Guiding Principles, highlighting the VBI community’s unwavering commitment to sustainable and climate-resilient finance. These sectoral guides are in addition to
the 6 sectoral guides that were previously issued in 2021 and 2022 respectively.
