CIMB recognised as Best Islamic Bank and Best Bank for SMEs at Asiamoney Best Bank Awards
30 September 2021
Awards pay tribute to CIMB’s contributions to advancement of the industry and commitment to customers and community despite the challenging period
Kuala Lumpur:CIMB Islamic Bank Berhad and CIMB Bank Berhad (collectively “CIMB” or “the Bank”) have won the awards for Best Islamic Bank and Best Bank for SMEs in Malaysiaat the Asiamoney Best Bank Awards 2021. The awards celebrate the leadership of the Islamic Banking and Commercial Banking arms of CIMB Group who have worked together to demonstrate their continued commitment to innovation as well as emphasis on the viability, growth and improved experience of all their customers.
Collectively, this set of accolades underscore CIMB’s successes in benefitting customers through advancements including innovative products, enhanced product features, improved customer experience and client successes. The bank also responded to customers facing challenges from the pandemic through a series of repayment assistance and financing programmes to address their difficulties.
CIMB’s strengths in harnessing the power of digitalisation was highlighted with the launch of CIMB’s OctoSavers Account-i, its first fully digital Islamic savings account which provided customers full account onboarding digitally, via the use of electronic Know-Your-Customer (“e-KYC”), removing the need to step into a branch. To provide improved customer experience, CIMB also successfully launched EVA, a chatbot for business customers, placing CIMB as the first commercial bank in Malaysia with a bilingual chatbot that integrates the convenience of consistent support for Small and Medium Enterprise (SME) owners, and access to COVID-19 relief schemes and other financing products available in Malaysia.
CIMB’s efforts at empowering micro-SMEs were seen in the CIMB MicroBizReady programme, which leveraged the combined expertise of CIMB’s Islamic and Commercial Banking arms. Aimed at empowering entrepreneurs, specifically those from the B40 group, this initiative aimed to enhance the entrepreneur’s business acumen covering financing, digitalisation and e-commerce, business strategy and emotional wellbeing, paving the way for the enhancement and sustainability of livelihoods in the community.
Commercial Banking and SME customers were also introduced to CIMB’s HalalBizReady, a comprehensive solution covering the entire value chain in connecting businesses to global halal trade, while CIMB’s GreenBizReady initiative paves the way for businesses embarking on their sustainability journey by connecting them to an ecosystem of “green” enablers including government agencies and specialists.
In the capital markets, CIMB Islamic’s Sukuk capabilities are highlighted in the Government of Malaysia’s notable dual tranche USD1.3 billion Sukuk Wakala offering where the 10-year USD800.0 million sustainability tranche was the world’s first USD sustainability sukuk offered by a sovereign, as well as the Government of Indonesia’s USD3.0 billion global sukuk offering - including a USD750.0 million green sukuk tranche - the first-ever 30-year and longest-tenured green sukuk issuance globally.
Ahmad Shahriman Mohd Shariff, Chief Executive Officer, CIMB Islamic Bank Berhad said, “CIMB Islamic has continued to actively take steps in the progress of the Islamic finance industry guided by the principles of Value Based Intermediation that result in practices and offerings that generate positive and sustainable impact to the economy, community and environment. We are pleased to have made a difference in the lives of our customers and communities and would like to acknowledge their contribution to this accolade."
Victor Lee Meng Teck, Chief Executive Officer, Group Commercial Banking, CIMB Group said, “We are pleased to have played a significant part in providing innovations and improvements for our customers’ benefit across all touchpoints, and to be able to extend our support through programmes that positively upgrade the livelihoods of communities in need. We would like to thank our customers who are integral to our success in this award."
Ahmad Shahriman Mohd Shariff, Chief Executive Officer, CIMB Islamic Bank Berhad (left) and Victor Lee Meng Teck, Chief Executive Officer, Group Commercial Banking, CIMB Group.
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