(File pix) Bank Muamalat Malaysia Bhd has signed the Corporate Integrity Pledge of Malaysia Anti-Corruption Commission (MACC), in conjunction with the company's Integrity Day celebration today. Pix from Bank Muamalat website

KUALA LUMPUR: Bank Muamalat Malaysia Bhd has signed the Corporate Integrity Pledge of Malaysia Anti-Corruption Commission (MACC), in conjunction with the company's Integrity Day celebration today.

The pledge was signed between Bank Muamalat chief executive officer Datuk Mohd Redza Shah Abdul Wahid and MACC deputy chief commissioner (prevention) Datuk Seri Mustafar Ali.

The signing ceremony was witnessed by Bank Muamalat chairman Tan Sri Dr Mohd Munir Abd Majid.

Mohd Munir in his speech said Bank Muamalat, being an Islamic financial institution, plays an important role in deterring and detecting corrupt practices.

He said preventing and deterring corrupt practices is only possible if there is a working partnership between all the law enforcement authorities, regulators, supervisors and the private sector.

"Therefore, cooperation and collaboration are not options but vital requirements.

"Having said that, it is important for me to stress that having a comprehensive Corruption Framework alone is not enough.

"What is more important is how effective our implementation and its impact are in preventing and deterring corrupt practices," he said.

Over the past years, Bank Muamalat has developed and implemented various policies and procedures of corporate governance and anti-fraud, including anti-corruption, which aims to eliminate corruption among its staff, customers and vendors.

The signing of the pledge signified the unilateral declaration by Bank Muamalat against corrupt practices and announces its resolve to work towards a highly principled business environment based on Shariah principles.

350 reads