Page 220 - Exim iar24_Ebook

EXIM BANK MALAYSIA
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NOTES TO THE FINANCIAL STATEMENTS

44. ISLAMIC BUSINESS (cont’d)
Statement of profit or loss for the year ended 31 December 2024
2024 2023
Islamic Islamic
business Takaful business Takaful
fund fund Total fund fund Total
Note RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Restated Restated
Group and Bank

Income derived from
Islamic banking fund (l) 158,867 - 158,867 143,015 - 143,015
Financing cost (86,460) - (86,460) (96,999) - (96,999)
Net income from Islamic
banking fund 72,407 - 72,407 46,016 - 46,016

Takaful revenue - 4,077 4,077 - 5,610 5,610
Takaful service expenses* - 481 1,318 - 10,419 11,364
Net expenses from
reinsurance contracts held - (991) (991) - (4,045) (4,045)
Total takaful service results - 3,567 4,404 - 11,984 12,929
Takaful Finance Expense - (1,086) (1,086) - (1,166) (1,166)
Net income from takaful
service results - 2,481 3,318 - 10,818 11,763
Islamic banking fund and
Takaful fund results 72,407 2,481 75,725 46,016 10,818 57,779
Other income/(expenses), net* (m) 15,027 - 14,190 (14,197) - (15,142)

Net Income from Islamic
business 87,434 2,481 89,915 31,819 10,818 42,637
Administrative expenses (2,293) - (2,293) (2,133) - (2,133)
(Allowance)/writeback for
expected credit losses
(“ECL”) on advances
and financing (n) (41,077) - (41,077) 6,647 - 6,647
Writeback/(allowance) for
ECL on commitments and
contingencies 2,805 - 2,805 (1,562) - (1,562)