Bank Islam Unveils IFiRST To Help Companies Adopt Sustainable Practices

KUALA LUMPUR, June 19 (Bernama) -- Bank Islam Malaysia Bhd (BIMB) has unveiled IHSAN Financing for Business Resilience, Sustainability and Green Transition (IFiRST) to empower businesses, particularly small and medium enterprises and mid-tier companies, in adopting more sustainable and resilient practices.

In a statement today, group chief executive officer, Datuk Mohd Muazzam Mohamed said the financing solution provides equitable and accessible support, enabling businesses to actively participate in the transition to a low-carbon economy.

“IFiRST reflects BIMB’s commitment to a fair and inclusive transition across all segments of the economy.

“By enabling greener practices throughout the entire value chain, we are supporting not just large companies but also the smaller businesses and ecosystem partners that play a vital role in reducing carbon emissions,” he said.

He said IFiRST focuses on carbon-intensive sectors, incorporating access to facilities such as Bank Negara Malaysia’s Low Carbon Transition Facility (LCTF), which helps businesses overcome financial and operational barriers in their sustainability journey, ensuring that no stakeholder is left behind.

BIMB said IFiRST further strengthens its leadership as a purpose-driven Islamic financial institution dedicated to embedding environmental, social and governance principles into its core offerings.

“Aligned with Shariah values and the bank’s long-term strategy, IFiRST creates shared value for customers, stakeholders and the environment, while enhancing risk management and unlocking new avenues for sustainable and responsible asset growth,” it said.

Mohd Muazzam said BIMB strives to be a strategic partner in assisting its customers to future-proof their businesses through advisory services, sustainable financing solutions and knowledge-sharing platforms.

“As industries accelerate their shift towards a low-carbon future, BIMB plays a vital role in mobilising capital to empower corporates and businesses in adopting green technologies or solutions.

“These efforts will enhance economic resilience and support Malaysia in achieving its climate goals on schedule,” he said.

Looking ahead, BIMB said it is set to implement its Climate Transition Plan, a strategic roadmap that will steer the bank towards achieving net-zero emissions by 2050.

-- BERNAMA