KUALA LUMPUR: Bank Islam Malaysia Bhd
(Bank Islam) achieved a significant milestone by surpassing its initial target of RM4 billion in green financing, achieving RM4.8 billion in September 2024, well ahead of its 2025 goal.
The bank said this achievement highlighted its key role in advancing Malaysia’s green economy.
"Building on this success, Bank Islam has set an ambitious target to grow its sustainable finance portfolio to RM28 billion by the end of 2025,” the bank said in a statement today.
As a leader in Shariah-compliant sustainable finance, the bank is committed to accelerating Malaysia’s green economy while generating lasting value for businesses, communities, and the environment.
Bank Islam highlighted the Ihsan Sustainability Investment Account (ISIA), launched in 2023, as central to its sustainability strategy, focusing on investments aligned with the United Nations (UN) Sustainable Development Goals (SDGs) and Bank Negara Malaysia’s (BNM) Climate Change and Principle-Based Taxonomy (CCPT).
The bank also supports Malaysia’s clean energy transition by facilitating renewable energy projects such as solar and hydropower, contributing to the National Energy Transition Roadmap (NETR) and its net-zero emissions target by 2050.
Bank Islam’s green finance initiatives promote environmental sustainability and drive inclusive economic growth by creating jobs and supporting micro, small, and medium-sized enterprises (MSMEs), agribusinesses, and underserved communities while boosting rural development and promoting economic resilience.
Its group chief executive officer, Datuk Mohd Muazzam Mohamed, said the bank’s commitment to green finance goes beyond regulatory compliance, aiming to create positive change that will shape Malaysia’s economy for generations.
"By focusing on sustainable financing solutions, we are not just supporting industries essential to Malaysia’s future, such as renewable energy and manufacturing, but also ensuring we protect the environment for future generations,” he said.
Further reinforcing its commitment to sustainability, Bank Islam recently became the first bank in Malaysia to certify 86 Certified Green Finance Advisors (CGFAs) through a comprehensive training programme developed in collaboration with the Asian Banking School (ABS). -Bernama
