Maybank places emphasis on the importance of achieving a good equilibrium between value creation for all stakeholders, and enhancing our role as a leading and responsible corporate citizen.
With an extensive network of stakeholders including employees, customers, business partners and the community, we are mindful that everything we do – from our policies, products and services, to our performance and conduct – has wide-reaching effects on the financial, societal and environmental well-being of our stakeholders.
Our primary responsibility towards our stakeholders is therefore to create stability in our business and social environment. We do this by creating long-term value through our products and services, ensuring profitability, stakeholder loyalty, good corporate governance and nurturing the community at large. This section provides an overview of our continuing commitment and past efforts.
Maybank recognises that people play a significant role in enhancing the stability of the operating environment. Individuals bond together as families, and benefit most in an integrated and tolerant society. We have therefore made nurturing and preserving familial togetherness a priority in our approach to Corporate Social Responsibility (CSR).
With respect to this, we established the Maybank Family Fund in July 2010, in collaboration with the Central Singapore Community Development Council (CS CDC).
Social Issues in a Connected World
The social environment today is greatly impacted by the growing prevalence of technology and the Internet. While this may help to connect people and eliminate geographical barriers, it has also resulted in a digital divide and an inter-generational gap that could strain the social fabric. It is within this context that Maybank is committed to promoting a more inclusive society with healthy family values in Singapore.
Our efforts in social investment target the impact of technology on the individual, family and society. We do this on two fronts:
Promoting the use of technology as a positive force
We believe in leveraging the positive effects of technology for the greater good, such as tech initiatives that
- help to make lives better, especially for the elderly and less fortunate
- minimise divisions within society
- facilitate learning and communication
- create more opportunities for families to bond
The Youth Bank by Maybank
~ technology as a rallying force to strengthen bonds in society
Maybank is currently the naming sponsor of the Youth Bank by Maybank, an initiative by Heartware Network. This is intended to be a "central bank" where volunteer hours are logged; these volunteer hours can in turn be exchanged for gifts in kind or cash to charities. The sponsorship will build the technological platforms to actively drive volunteerism amongst youths through the Youth Bank portal, via email, SMS and MSN platforms and a Call Centre.
As youths become more entrenched in virtual communities through the Internet, Youth Bank by Maybank aims to engage them through the same familiar platforms to care more about community issues in the real world, and extend care and concern towards displaced members of society who often lack familial support.
The Inspire Fund
~ bridging the digital divide
Maybank places great emphasis on the educational needs of the young. With computers and the Internet becoming an integral part of the Singapore classroom, students who cannot afford computers, or lack Internet access, are severely disadvantaged.
To address this gap, Maybank is the first financial institution in Singapore to adopt the Inspire Fund, a programme by the Infocomm Development Authority (IDA) to help financially-needy students acquire a basic computer with Internet access. Applicants are given the opportunity to "earn" their own computers by putting in a certain number of hours of community work. The programme is unique as it provides financial assistance whilst promoting self-reliance.
Addressing the negative
As with all things, the advent of the Internet has its downside, with some negative social impact which requires active and sustained action. Maybank is currently part of a global initiative to fight child pornography on the Internet.
We are also working towards bridging the digital divide and the inter-generational gap arising from society's move to embrace technology.