Page 227 - Exim iar24_Ebook

EXIM BANK MALAYSIA ANNUAL REPORT 2024

7 FINANCIAL STATEMENTS 225
NOTES TO THE FINANCIAL STATEMENTS

44. ISLAMIC BUSINESS (cont’d)
Notes to the financial statements for Islamic business fund and Takaful fund for the financial year ended 31 December 2024
(cont’d)

(e) Financial investments at amortised cost (cont’d)
Movements in the ECL on financial investments at amortised cost are as follows:
Stage 2 Stage 3
Stage 1 Lifetime ECL Lifetime
12-month not credit ECL credit
ECL impaired impaired Total ECL
RM’000 RM’000 RM’000 RM’000

At 1 January 2023 15 - 250,784 250,799
Writeback during the year (15) - (483) (498)
Exchange differences - - 11,405 11,405
At 31 December 2023/1 January 2024 - - 261,706 261,706
Allowance during the year - - 24,770 24,770
Exchange differences - - (6,528) (6,528)
At 31 December 2024 - - 279,948 279,948

(f) Islamic financing

Group and Bank
2024 2023
RM’000 RM’000
(i) Murabahah 138,434 54,556
Istisna’ 27,798 28,552
Tawarruq 2,044,168 1,489,548
Ijarah 61,647 65,699
Wakalah 134,737 -
2,406,784 1,638,355
Less: Allowance for ECL on impaired advances and financing
- 12-month ECL - Stage 1 (63,156) (32,929)
- Lifetime not impaired ECL - Stage 2 (28,703) (7,953)
- Lifetime ECL credit impaired - Stage 3 (296,027) (316,634)
Net advances and financing 2,018,898 1,280,839