KUALA LUMPUR, March 12 — Malayan Banking Bhd (Maybank) has inked a memorandum of understanding (MoU) with green mobility and renewable energy expert Gentari Sdn Bhd to explore collaboration in green mobility and renewable energy (RE) solutions.

Maybank and Gentari said in a joint statement today that the partnership would strengthen Maybank’s sustainability goals, aiming to achieve a carbon neutral position of emissions by 2030 as well as a net zero carbon equivalent position by 2050.

As of December 2023, Maybank has surpassed its sustainable financing targets, mobilising RM34 billion for the year, well ahead of its 2023 target of RM16 billion, with a cumulative achievement of over RM68 billion, against the targeted RM80 billion by 2025.

Group chief executive officer (CEO), Maybank Community Financial Services, Syed Ahmad Taufik Albar said that through this collaboration, Maybank Islamic’s InCharge pre-credits will be extended to include Gentari’s charging stations, giving more access and benefits for customers.

"Maybank Islamic InCharge is an electric vehicle (EV) pre-credit incentive programme for EV and hybrid vehicle owners with Maybank Islamic Auto financing with credits useable at selected charging stations,” he said.

He said Maybank is setting the initiative in motion through the installation of charging points for EV and hybrid vehicles at its network of premises and branches nationwide, beginning with 10 strategically chosen locations.

"Having the widest network of direct current (DC) fast chargers in Malaysia, Gentari offers EV and hybrid vehicle owners access to over 335 charging points, including more than 100 DC fast chargers which enable rapid charging for EV and hybrid vehicles,” he said.

He added that other areas of collaboration included cross-branding and marketing efforts of the entire suite of Maybank product offerings which consist of financing, insurance and takaful, card partnerships and others, leveraging Maybank’s financial offerings and digital platforms with Gentari’s expertise and facilities.

Meanwhile, Gentari deputy CEO Shah Yang Razalli said this collaboration unites Maybank’s suite of financing and insurance solutions with Gentari’s green mobility and renewable energy offerings.

This also marks Gentari’s first collaboration with a financial institution, signifying an aligned commitment with Maybank to drive sustainable solutions adoption in the market. — Bernama