TAWAU: Bank Muamalat Malaysia Berhad is reinforcing its commitment to Islamic finance as a key driver of socioeconomic development in Sabah, through a series of impactful social finance initiatives. President and Chief Executive Officer, Khairul Kamarudin, stated that the bank continues to focus on empowering underserved communities by fostering financial inclusion and entrepreneurship.
Among the key initiatives highlighted was the presentation of participation certificates to 16 selected micro-entrepreneurs under the iTEKAD Bank Muamalat Sabah programme. These individuals, drawn from the B40 and asnaf communities, will receive up to RM10,000 in microfinancing and grants. The programme also provides fully sponsored entrepreneurship training and six months of structured mentoring to support sustainable business development.
In conjunction with the Financial Literacy Carnival 2025 at Eastern Plaza, Bank Muamalat also formalised a strategic partnership through a memorandum of understanding with the Credit Counselling and Debt Management Agency (AKPK). Additionally, the bank launched the “Pek Ikhlas Sabahan” crowdfunding campaign under the Jariah Fund in collaboration with Yayasan Ikhlas, further extending its outreach to marginalised groups in Sabah.
Khairul affirmed Bank Muamalat’s position as one of the pioneering Islamic financial institutions under Bank Negara Malaysia’s (BNM) iTEKAD initiative. He reiterated the bank’s commitment to broadening its social finance outreach in underserved states, aligning with the national agenda.
“As of May 2025, a total of 3,397 B40 and asnaf entrepreneurs across the country have benefitted from the iTEKAD Bank Muamalat programme, with more than RM35 million in funding disbursed,” Khairul said.
He emphasised that these initiatives reflect the bank’s steadfast support for the government and BNM’s aspirations to position Islamic finance as a cornerstone of inclusive and sustainable economic development.
“Programmes such as iTEKAD not only uplift those in need, but also play a strategic role in driving national economic growth by cultivating resilient micro-entrepreneurs,” he added.
-Bernama
