Bank Muamalat, Malakoff to jointly promote ESG initiatives

KUALA LUMPUR: Bank Muamalat Malaysia Bhd and Malakoff Corp Bhd have formed a partnership to promote environmental, social and governance (ESG) initiatives.

The collaboration is set to support growth and development of sustainable energy solutions in Malaysia through financing programmes for renewable energy (RE), consisting of solar photovoltaic systems, battery energy storage systems and electric vehicle chargers. 

The companies, in a joint statement, said one of the aims of the programme was to provide financing options for businesses and individuals who are keen to adopt RE in the effort of reducing carbon footprint and to offer support for sustainable transformation. 

"This collaboration supports the 2023 Budget initiative and demonstrates the commitment of both organisations towards promoting sustainable practices in the country.

"The programme will provide financing options for businesses and individuals looking to adopt RE, helping to reduce the country's carbon footprint and support the transition to a more sustainable future," they added.

Bank Muamalat chief executive officer Khairul Kamarudin said it was the first bank to start offering "eco-green" financing via different innovative products such as personal financing, mortgages, credit cards and car financing that fitted the requirements of customers.

"Our aim is to provide our customers with the best possible financial services and support their journey towards a better life. This partnership is just one of the many ways that we are demonstrating our commitment towards #BetterLivesTogether and a sustainable future for all Malaysians." he added. 

Malakoff's managing director and chief executive officer Anwar Syahrin Abdul Ajib said the company was committed to championing Malaysia's transition towards greener energy sources as it continued to expand its RE portfolio. 

"Through this strategic alliance with Bank Muamalat, we are confident that not only will it help make cleaner energy adoption more accessible and affordable for businesses and individuals, but also serve as a catalyst in instilling environmental awareness among Malaysians and  contribute to the growth of sustainable living," he added.

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