Page 107 - Exim iar24_Ebook

EXIM BANK MALAYSIA ANNUAL REPORT 2024

7 FINANCIAL STATEMENTS 105
SHARIAH COMMITTEE’S REPORT

DISCLOSURE ON SHARIAH NON-COMPLIANT EVENT (cont’d)
We were also informed of the causes of the incident and noted that the Bank had taken necessary corrective and preventive measures
to avoid the same incident from recurring in the future including reporting to the BNM in accordance with the requirements of Policy
Document on Operational Risk Reporting (“ORR”).

ZAKAT ON ISLAMIC BUSINESS
Shariah Committee has reviewed the financial statements of the Bank, including the calculation of Zakat and confirmed that
the financial statements prepared were in compliance with the Shariah rules and principles as well as the minimum disclosure
requirements as stipulated by Bank Negara Malaysia.
Based on the zakat computation of Working Capital Method and Growing Capital Method, the Bank was not in the position to pay
zakat for financial year ended 31 December 2024.

SHARIAH OPINION
We, as EXIM Bank’s Shariah Committee, to the best of our knowledge, have obtained sufficient and appropriate evidence to form
Shariah compliant opinion with regards to EXIM Bank’s Islamic business operations. Hence to the best of our knowledge based on
the information provided to us and decisions made during the Shariah Committee meeting, we are of the opinion that:

i. SSFD and other Shariah Control Functions have been effectively discharging their role for ensuring the requirement of Shariah
compliant has been fulfilled within the institution.
ii. The Islamic financial business operations of EXIM Bank for the financial year ended 31 December 2024 have been conducted in
conformity with the Shariah rules and principles.
iii. The contracts, transactions and dealings entered by the Bank in relation to its Islamic financial business during the financial
year ended 31 December 2024 that were reviewed by Shariah Committee, were in compliance with Shariah.

iv. The computation of zakat was in compliance with Shariah.
We pray to Allah the Almighty to grant us all the success and straight-forwardness and Allah knows best.

Signed on behalf of the Committee in accordance with a resolution of the Shariah Committee dated 27 March 2025.

Dr Ghazali Jaapar Dr Safinar Salleh
Chairman Member

Kuala Lumpur, Malaysia