Page 214 - EXIM_AR2021

212 FINANCIAL EXIM BANK MALAYSIA
STATEMENTS

Notes to the fiNaNcial statemeNts

44. islamic bUsiness fUnDs (cOnt’D.)
Statement of profit and loss for the year ended 31 December 2021
Group and Bank
2021 2020
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

Income derived from Islamic
banking fund (g) 148,793 - 148,793 159,893 - 159,893
Financing cost (29,538) - (29,538) (49,404) - (49,404)
Net income from Islamic
banking fund 119,255 - 119,255 110,489 - 110,489

Gross contribution - 2,026 2,026 - 3,776 3,776
Wakalah fee (58) 58 - 1,564 (1,564) -
Reinsurance outward - (19) (19) - (83) (83)
(Increase)/decrease in
contribution liability - (3,474) (3,474) - 231 231
Decrease/(increase) in claim
liability (Note 22) - 4,226 4,226 - (4,023) (4,023)
Decrease/(increase) in expenses
liability (Note 22) 186 - 186 (124) - (124)
Takaful fees and brokerage
commission 125 (14) 111 273 (19) 254
Income from Takaful activities 253 2,803 3,056 1,713 (1,682) 31
Islamic banking fund and
Takaful fund results 119,508 2,803 122,311 112,202 (1,682) 110,520
Other (expenses)/income (h) (16,310) - (16,310) 10,888 - 10,888

Net Income from Islamic business 103,198 2,803 106,001 123,090 (1,682) 121,408
Administrative expenses (815) - (815) (663) - (663)
Reversal/(allowance) on
doubtful debt - 90 90 (127) (127)
(Allowances)/writeback for
expected credit losses (“ECL”)
on loans, advances and
financing (i) (14,668) - (14,668) 3,055 - 3,055
Writeback for commitments
and contingencies 8,165 - 8,165 1,150 - 1,150
Allowances on financial
investments (3,142) - (3,142) (42,583) - (42,583)
Profit/(loss) for the year before
zakat 92,738 2,893 95,631 84,049 (1,809) 82,240
Zakat - - - - - -

Net profit/(loss) for the year 92,738 2,893 95,631 84,049 (1,809) 82,240