Public Islamic Bank wins the award for Malaysia’s best Islamic bank for ESG for its steady and results-driven integration of sustainability into its core financing activities.
The bank’s progress in supporting green financing across a wide base of clients is clear and measurable. In 2024, Public Islamic Bank approved RM4.9 billion (£1.14 billion) in financing for energy-efficient vehicles under its Islamic facility, marking a 48% increase from RM3.3 billion in 2023. This reflects rising demand and the bank’s ability to scale its offering in response.
Green housing has been another area of consistent focus. Since launching its green financing facilities in 2022, the bank has enabled more customers to invest in energy-efficient residential and commercial properties. In 2024, RM297.4 million in financing was approved under these packages. While not large by international standards, the total shows a clear commitment to building a sustainable property market at the domestic level.
The bank’s progress in supporting green financing across a wide base of clients is clear and measurable
The bank has also been active in supporting renewable energy adoption. In 2024, it financed RM45.2 million worth of rooftop solar installations, almost doubling the RM23.4 million disbursed in 2023. This growth points to the effectiveness of its approach to product development and accessibility for both individual and business clients.
Public Islamic Bank’s ESG efforts go beyond environmental financing. The bank has been an early and active participant in the iTEKAD initiative, which supports the financial inclusion of underbanked and unbanked communities. This aligns with the principles of Maqasid Shariah, helping to ensure that its ESG agenda reflects both environmental and social priorities.
Public Islamic Bank has focused on building a consistent track record in ESG. Its year-on-year progress in green and inclusive financing, particularly through Islamic structures, makes it a deserving winner of this year’s award.
