13/04/2026

MONDAY | APR 13, 2026

12

BANKING & INSURANCE

PAAB embraces blue finance

o Government-owned company establishes first sustainable Islamic finance framework in Malaysia with such a feature to support water sector, with Maybank IB acting as adviser

structure, resource efficiency and climate resilience are becoming increasingly integral to Malaysia’s development agenda. Maybank’s support for the frame work is aligned with its commitment under its ROAR30 strategy to mobilise RM300 billion in sustainable finance by 2030, while also targeting RM100 billion in new economy financing to support sectors and business models shaping a more future-ready, low carbon and inclusive economy. This builds on the RM176.12 billion in sustainable finance mobilised between 2021 and 2025. Maybank IB CEO Michael Oh-Lau, said, “With the blue economy now a national priority, Maybank is honoured to partner with PAAB in structuring Malaysia’s first sustainable Islamic finance framework with integrated blue finance features. Our nation’s goal to reduce non-revenue water highlights the urgent need for sustainable capital in water infrastructure.”

said, “We are committed to ensuring that every fundraising effort directly supports assets/projects with measurable environmental and social sustainability impact, from climate resilience to operational efficiency. Hence, this framework provides PAAB with a transparent and credible platform to mobilise sustainable capital across sukuk and other Islamic financing instruments.” By embedding international best practices and rigorous governance, she added, PAAB targets to demon strate how sustainable Islamic finance can deliver long-term value creation while advancing national agenda in infrastructure and eco nomic development. The framework sets out how PAAB and its subsidiaries may raise sustainable financing to fund eligible assets and projects that support long term value creation and contribute to national priorities, including the Water Sector Transformation 2040 agenda, Malaysia’s Net Zero 2050 commitment, and the aspirations of the 13th Malaysia Plan in advancing resilient, future-ready infrastructure and sustainable development. The framework also reflects the growing importance of the New Economy, where sustainable infra

in raising funds under this Framework. PAAB forms part of the govern ment’s efforts, together under the Ministry of Energy Transition and Water Transformation, to restructure the water services industry in the country to achieve better efficiency and quality, as well as to ensure sustainability of the industry. PAAB CEO Zulkiflee Omar said, “The framework reinforces PAAB’s role as Malaysia’s national water asset custodian and a catalyst for water sector transformation. By embedding sustainable financing into our strategy, we are aligning with the national agenda by ensuring every asset/project funded strengthens our resilience, efficiency, and sustain ability as well as ensuring water security for future generations.” The framework ensures alignment with evolving sustainable finance guidelines, comprehensive project eligibility criteria aligned with PAAB’s core business activities, identified sustainability impact indicators and provides flexibility to issue a wider range of sustainable Islamic finance instruments. It provides flexibility for the issuance of sukuk or other Islamic financing instruments across green, blue and social categories. PAAB CFO Zaleha Abdul Hamid,

PETALING JAYA: Pengurusan Aset Air Bhd (PAAB), which is wholly owned by Minister of Finance (Incorporated), has established a sustainable Islamic finance frame work with Maybank Investment Bank (Maybank IB) acting as sole sustainability structuring adviser. Notably, the framework is the first in Malaysia to feature blue finance and first in Malaysia for Islamic finance, allowing PAAB to undertake blue instruments such as blue sukuk and other Islamic financings in adherence with the Guidelines for Blue Finance Version 2.0 developed by the International Finance Corporation in 2025, as well as the Bonds to Finance the Sustainable Blue Economy – A Practitioner’s Guide published by the International Capital Market Association in 2023. Blue finance refers to investments, loans and financial instruments

aimed at protecting marine eco systems, promoting sustainable water use and supporting a healthy “blue economy”. PAAB’s blue instruments will support its role in strengthening the efficiency, resilience and sustain ability of Malaysia’s water sector, while contributing to the United Nations Sustainable Development Goals. The framework has been inde pendently reviewed by RAM Sustainability and was accorded a Platinum Sustainable Finance Rating, in its Second Party Opinion (SPO), confirming its alignment with relevant local, regional and international sustainable finance guidelines. PAAB is the first to ever achieve Platinum distinction – the highest tier under RAM Sustainability’s SPO assessment – hence providing assu rance and credibility for PAAB’s sustainability process and governance

By leveraging innovative blue financing solutions, he added, PAAB is set to play a catalytic role in accelerating pipe replacement, long term resilience and efficiency gains and they remain committed to supporting a sustainable, development-ready water sector for the nation. Allianz Malaysia achieves top EDGE recognition for gender equality PETALING JAYA: Allianz Malaysia Bhd has achieved EDGE Lead certification, the highest level of recognition under the Economic Dividends for Gender Equality, in addition to being ranked No. 4 in the inaugural Best Workplaces in Malaysia 2026 by Great Place To Work. In a statement, Allianz Malaysia said, these achievements highlight its unwavering commit ment to fostering an inclusive and equitable workplace culture that supports employees’ growth and well-being, setting a benchmark for workplace excellence in the country. “At Allianz Malaysia, our people are the heart of our success, which in turn is built on a foundation of trust and inclusivity. Achieving EDGE Lead certification and being recognised as one of Malaysia’s best workplaces is a testament to our positive and supportive culture that empowers and values every employee,”said CEO Sean Wang. The Economic Dividends for Gender Equality, or EDGE, is the leading global standard for workplace fairness and gender equity. Allianz Malaysia was first EDGE-certified in 2022, beginning with EDGE Assess in 2022 and followed by EDGE Move in 2024. This prestigious ranking recognises organi sations that demonstrate exemplary workplace cultures built on trust. Only 20 organisations across small, medium and large categories were selected for this first-ever list in Malaysia. The ranking is highly competitive and based on confidential employee feedback and data driven insights, with eligible organisations required to be Great Place To Work-certified and achieve a minimum score of 65% on the Trust Index Survey. This survey measures key workplace dimensions, including respect, credibility, fairness, pride and camaraderie. In 2026, Great Place To Work surveyed nearly 45,000 employees across the country. Allianz Malaysia has been certified as a Great Place To Work since 2024 under the broader Great Place To Work ranking.

CIMB a double winner at The Asian Banker Awards PETALING JAYA: CIMB Bank Bhd has been recognised for its impact, innovation and contribution to the banking and finance industry through two awards from The Asian Banker’s Global Excellence in Retail Finance Awards 2026.

The awards lauded CIMB as Best Retail Bank in Malaysia and Best SME Bank in Malaysia. The Asian Banker attributed CIMB’s recognition as the Best Retail Bank in Malaysia to its strong demonstration of advancing the industry, including strengthening digital origination, fast decisioning and embedded finance partnerships. In a statement, the bank said, its innovative expansion of customer acquisition beyond branches and high automation in areas such as lending approvals demonstrated this market leadership. It added that these efforts of strengthening their customer experience whilst maintaining sound risk management led to strong financial performance for the consumer bank and country. CIMB Malaysia and CIMB Bank Bhd CEO Gurdip Singh Sidhu said, “We share this strong market recognition with our customers. Our efforts to advance customers and society is supported by the relentless pursuit of innovation and commitment to a future forward digital framework, scalable technology and a customer-first approach. These accolades underscore our market leadership and dedication to delivering excellence across the retail and SME banking sectors in a continuously evolving financial landscape.” CIMB Group consumer banking CEO Haniz Nazlan said, “This recognition reflects the trust our customers place in us. We have been intentional in shaping a propositionled approach that puts our customers at the centre of everything we do – from innovating new solutions, to creating seamless, omnichannel journeys and building a strong ecosystem of partners that extends the value we deliver. Alongside this, we continue to invest in next-generation technologies and AI

Head of consumer banking Malaysia Daniel Cheong and Loh receiving the awards on behalf of CIMB at The Asian Banker’s Global Excellence in Retail Finance Awards 2026.

to simplify processes and enhance how we serve. At the heart of it all is our commitment to delivering a better experience and making banking simpler, better and faster for our customers.” In naming CIMB as Best SME Bank in Malaysia, The Asian Banker pointed to CIMB’s leadership in serving SMEs through an integrated approach that combines digital innovation and comprehensive product offerings, driving strong growth to expand the bank’s market presence. It also acknowledged the impact of CIMB’s propositions through accessible and technology-enabled solutions. Lawrence Loh, co-CEO, group commercial and transaction banking, elaborated, “Being named Best SME Bank in Malaysia affirms CIMB’s continued transformation in parallel

with our SME customers, boosting their progress up the value chain through a wide menu of empowering solutions and industry knowledge to contribute to Malaysia’s regional growth story. The successful launch in 2025 of our Octo BIZ solution with Asean connectivity widened our comprehensive SME toolkit including innovations such as SME Instant Apply, SME FlexiCash/-i with working capital adapted to daily cashflow, and instant AI intelligence for business contact centre agents to better empower customers. Our flagship CIMB BizReady, GreenBizReady and Halal Biz Ready platforms jointly present a universal offering that helps businesses achieve their aspirations, while reflecting CIMB’s purpose of advancing customers and society.”

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