KUALA LUMPUR: RHB Banking Group (RHB Group) continues to drive its sustainable development initiative through social-impact asset financing activities as well as the provision of affordable life insurance protection.
These initiatives focus on the social aspects of sustainable development and are aligned with the RHB Sustainability Framework.
Group managing director Dato' Khairussaleh Ramli said social development forms an important building block in ensuring a sustainable future towards ensuring that no one is left behind as the country pursues its development agenda.
"In this regard, we are committed in providing financing solutions that not only support business activity directly,
but at the same time also addresses the wider needs of our communities.
"In doing so, our clients are able to finance and contribute towards growth of sustainable assets such as affordable housing, acquire employment generation assets, or even to channel aid to deserving recipients in a sustainable manner," he said in a statement today.
In meeting its social development commitment, RHB Group recently undertook the role of sole lead manager where it had successfully originated, priced and distributed Cagamas Bhd's inaugural RM100 million ASEAN Sustainability SRI Sukuk (SRI
Sukuk).
This landmark transaction was Malaysia's first ever SRI Sukuk, where proceeds were used to finance affordable housing and employment generation assets, in the form of loans to small and medium enterprises (SME).
Earlier this year, RHB Group had also participated as one of the distributor banks for Sukuk Prihatin totaling RM666 million, which forms part of the National Economic Recovery Plan (PENJANA).
The proceeds from the sukuk issuance will be channeled to Kumpulan Wang Covid-19 aimed to empower the rakyat, propel businesses, and strengthen the economy during this challenging period.
Khairussaleh also added that as a regional financial services provider, the bank's role within the community goes beyond simply advocating sustainable financing and investment.
"Social development is integral in ensuring the social-economic well-being of our communities and that no one is left behind as the country progresses.
"As a financial services group, RHB Group also strives towards ensuring financial access for all segments of the community and that relevant products and services
are available to the underserved," he said.
As part of its efforts, RHB Group had in October 2020 entered into a collaboration with Tokio Marine Life Insurance Malaysia Bhd to bring to the market the Perlindungan Tenang insurance policy, which aims to provide affordable life protection plans to Malaysians nationwide.
The RHB Sustainability Framework sets forth the Group's approach towards embedding sustainable practices into the Group's business and operations, as well as risk management process.
Driven by its Sustainability Framework, the Group directly and indirectly contributes to the United Nations Sustainable Development Goals (SDG) and have identified 6 priority SDGs including SDG 8: Decent Work & Economic Growth which the bank contributes to through its social financing activities, with the aim to increase access to financial services and to strengthen the bank's capacity in providing financial inclusion for all.