2023-04-26 11:59:00
Mr. Thaweelap Rittapirom Director and Manager Revealing the business direction of iBank in 2023 on the occasion of the Bank’s 20th anniversary that in 2023, the Bank’s vision has been revised. It is a Shariah compliant financial institution for sustainability. To elevate the Bank’s financial services to be equal to other institutions. adherence to Islamic or Sharia principles which is beneficial to all religions As well as conducting business with responsibility to the environment, society and under good governance principles.
The mission strategic plan focuses on product creation strategies under the concept of ESG, taking into account the environment and society. meet sustainability Able to reach main target groups which are Muslims and general customers such as home loans with reduced debt It is to help customers reduce the burden of debt repayment by consolidating various debts. Whether it’s credit card debt or personal debt to housing debt. Allowing customers to pay in installments at affordable rates and longer periods As if having some income back honest community project It is a loan to help Muslims at the grassroots level to get out of informal debt and return to the financial system.
There is also a full range of Halal business loans. will support entrepreneurs who are interested in the halal business market but still lack funding sources lack of understanding in order to further promote them to become full halal entrepreneurs For entrepreneurs who already have halal business ibank joins hands with partners from many sectors To increase the potential to upgrade the products of entrepreneurs to be able to export to other countries As well as helping to develop Halal products for society and sustainability. Regarding the support of government policies that guide the development of the southern region through the development of the Special Economic Corridor of the South, the development of border special economic zones in order to solve economic problems in the southern border provinces
“The Bank continues to drive access to financial services for people in the 5 southern border provinces. to have a source of capital for a career In addition to relying on agriculture and fisheries, which are highly volatile and low-income household incomes. There is a strategic plan in the south that focuses on strengthening communities that rely on existing networks in the area, especially mosques. Including Islamic cooperatives as a mechanism to drive to reduce poverty in the Bank’s mission areas in a sustainable manner.”
for business strategy The Bank continues to expand credit to SMEs in the Bank’s target business groups as well as synergy with government agencies to help SMEs entrepreneurs. The bank continues to support both existing and new customers. For retail lending, which is a group that the bank focuses on and has already grown well. Will cooperate with subsidiaries or Amanah Leasing Public Company Limited in introducing business between them to be Create value for customers. It also aims to reduce non-performing debt (NPF) through comprehensive debt remediation.
Organization Development Strategy Division The Bank will use technology and information systems in its operations. Including adding more service channels via mobile banking It is developed through a synergy with government agencies and is expected to be completed and ready for service in the third quarter of this year.
for the direction of the organization in the future The Bank aims to generate sustainable profits and strong capital growth. By studying the overview of Islamic financial markets around the world. In the 2022 Developments of Islamic Finance Report by Refinitiv, the world’s leading provider of financial intelligence and risk management information, The report found that at the end of 2021, the total assets of the Islamic financial system worldwide reached 137 trillion baht, with a growth rate of assets even following the economic crisis caused by the COVID-19 situation of 17 percent and the number of issuing institutions. Financial products including more than 1,650 locations worldwide.
The total assets of the Islamic financial system 70 per cent of assets came from the Islamic banking sector, followed by sukuk or Islamic bonds at 18 per cent and Islamic funds at 6 per cent. The global total is around 96 trillion baht, with a growth rate of total Islamic banking assets of 17 percent, or equal to the overall growth of Islamic finance in the entire system. And there are 566 Islamic banks as of 2021 around the world. The Islamic financial system in Thailand still has a lot of room for growth. At the beginning of the year, the SEC was in the process of revising the rules for the establishment of Islamic mutual funds. To build confidence among Muslim investors that investing in mutual funds available in Thailand complies with Islamic principles. For Takaful insurance products in Thailand, it has been promoted and supported by the OIC in developing the scope of services in line with market trends. In addition, reviving relations with Saudi Arabia also strengthens opportunities to link trade and investment with the leading Islamic financial system abroad.
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