Maybank today announced its commitment to a Living Wage for all its employees in Malaysia, confirming that all staff are already earning above the RM3,100 per month threshold, as benchmarked against the Employees Provident Fund’s Belanjawanku Guide.
The move it added aligns with the Ministry of Finance’s call for Government-Linked Companies (GLCs) to lead in fair compensation under the GLC Earnings for a Resilient and United People (GEAR-uP) initiative.
Dato’ Khairussaleh Ramli, President and Group CEO of Maybank, said “At Maybank, we believe that employees’ welfare and wellbeing, including fair and decent pay, is not only a moral imperative, but also a business enabler,”
Maybank added it is dedicated to creating a safe, enabling, and inclusive workplace, empowering employees to thrive with a comprehensive and competitive suite of benefits. These include a wide range of leave options such as childcare, parental, sabbatical, and volunteerism leave. Employees and their dependents, including children with disabilities without age restriction, receive extensive medical coverage. Financial support is also provided through various employee loans/financing (e.g., housing, car, mobile, and sundry loans) at competitive rates, alongside life and personal accident insurance, and retirement benefits. Additionally, a flexible benefits scheme allows employees to tailor benefits to their individual needs, lifestyles, and family commitments.
To further support lower-income employees, Maybank has implemented targeted initiatives to ease daily burdens and enhance financial security. These include festival aid, interest-free loans, and access to the Staff Welfare Fund for urgent medical or disaster-related needs. Strong support for working families is provided through childcare and maternity allowances, along with education support for employees’ children, ranging from annual back-to-school aid to financial assistance for tertiary studies. Employees also have options to optimize their benefits, such as converting EPF contributions for medical coverage or repurposing dental and optical allocations for digital expenses.
Recognising the importance of sustainable and future-ready careers, Maybank said it has embedded structured reskilling and upskilling programmes. These initiatives offer access to curated digital learning platforms, industry-recognized certifications, and skills pathways aligned with internal mobility and career advancement, directly contributing to national objectives for workforce resilience, social mobility, and high-quality job creation.
