AmBank and Huawei sign MOU for sustainability financing and business solutions

• Will introduce Solar Energy, Green Data Centers, EV Charging, and Energy Storage solutions
• NRECC working on Long-Term Low Emissions Development Strategies

AmBank and Huawei Technologies Malaysia (Huawei Malaysia) have signed a Memorandum of Understanding to propel their organisations’ sustainability agenda. The MoU scope entails both parties working together in support of the introduction of Solar Energy, Green Data Centers, EV Charging, and Energy Storage solutions.

Through the strategic partnership, AmBank will provide financing and merchant business solutions to all Huawei dealers. They will gain access to the business deposit Current Account bundle with Fixed Deposit promo and special interest rates, credit card terminal with exclusive Merchant Discount Rate (MDR), and access to a dedicated team of Relationship Managers to assist with personalised services and faster loan processing. Besides that, their customers will enjoy attractive pricing upon purchase of selected Huawei products and will be able to do so with a 0% Easy Payment Plan of up to 36 months.

Representing AmBank was Aaron Loo, managing director, Retail Banking while representing Huawei Malaysia was Chong Chern Peng, vice president of Digital Power Business Department. The signing was witnessed by Sulaiman Mohd Tahir, group CEO, AmBank and Simon Sun, CEO of Huawei Malaysia.

The MOU signing took place in conjunction with the International ESG Day Conference, themed ‘Shaping Today for Tomorrow’ with a keynote address by Nik Nazmi Nik Ahmad

Minister of Natural Resources, Environment and Climate Change who took the opportunity to stress the need for the banking sector to collaborate with the government in achieving the National Energy Transition Roadmap (NETR). “The banking sector holds tremendous financial power, capable of steering our investment decisions towards greener alternatives. By incorporating sustainable energy projects into their lending portfolios, financial institutions can incentivise and promote the development of clean energy infrastructure. This will be instrumental in accelerating the transition by providing businesses and individuals with the necessary capital to pursue renewable energy initiatives. Indeed, by supporting such projects, banks are, in effect, “voting” for sustainability and therefore, a better future for Malaysia”, said the Minister.

Nik Nazmi also added that apart from existing policies such as NETR, his ministry is also developing a Nationally Determined Contributions (NDC) Roadmap and Long-Term Low Emissions Development Strategies (LT-LEDS), which charts key actions and plans needed to achieve Malaysia's climate action goals.

Sulaiman Mohd Tahir, group CEO of AmBank Group said “As a constituent of the financial ecosystem, we recognise the crucial role we play in driving social and economic growth in our communities. Our commitment goes beyond banking services, extending to the empowerment of our communities that foster long-lasting positive change.” 

Amanah Aboobucker, Chief Sustainability Officer of Ambank added that collaboration with all stakeholders is key, to not only create a positive impact on society and the environment but also fostering long-term financial prosperity. “AmBank is integrating sustainability considerations into its core business strategies and aligning our growth plans with the long-term well-being of the environment and society through the development of green financing solutions that create shared value for our customers. In this manner, we are shaping today for tomorrow" he added.