Kuala lumpur: CIMB Islamic Bank Bhd has announced a commitment of RM20 million over the next five years to back environmental conservation initiatives through its EcoSave-i programme, Malaysia's pioneering environmentally focused Islamic savings account. The programme is part of the bank's strategy to support conservation efforts under its green, social, and sustainable impact products and services framework.
According to BERNAMA News Agency, the EcoSave-i programme aims to mobilise RM300 billion in sustainable financing by 2030. Ahmad Shahriman Mohd Shariff, the bank's chief executive officer, stated that the funding will be used to support conservation, environmental education, and community empowerment efforts tailored to local needs. He emphasized that conservation efforts need to be specifically designed for different areas due to their unique requirements.
Ahmad Shahriman highlighted that CIMB Islamic collaborates closely with technical partners to establish suitable performance indicators, which could include metrics such as land protection status, tree-planting outcomes, or community training programmes. Over the past five years, the bank's conservation initiatives have already engaged more than 3,000 local community members and facilitated the planting of over 10,000 trees nationwide.
Key projects supported by this initiative include the Taman Tugu in Kuala Lumpur, with an allocation of RM3 million, as well as forest conservation efforts in the Penang Hill Biosphere Reserve and Royal Belum State Park. Ahmad Shahriman noted that Taman Tugu serves as an accessible focal point for customers and the public to learn about conservation efforts due to its central location in Kuala Lumpur.
He further explained that the initiative aligns with Islamic finance principles, which emphasize stewardship and responsibility beyond commercial returns. He stressed that the bank's commitment is not solely focused on profit but also on environmental and community stewardship, reflecting a broader responsibility in line with Islamic finance values.
Ahmad Shahriman added that the five-year commitment aims to ensure the continuity and resilience of conservation projects, underscoring the necessity for sustained, long-term collaboration in environmental protection. He noted that effective conservation requires continuous multi-year projects involving multiple stakeholders and adaptable programmes.