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ANNUAL REPORT 2021 215

Notes to the fiNaNcial statemeNts

44. islamic bUsiness fUnDs (cOnt’D.)

Statement of cash flows for Islamic business fund for the financial year ended 31 December 2021 (cont’d.)
Group and Bank
2021 2020
RM’000 RM’000

Net (decrease)/increase in cash and cash equivalents (620,412) 293,621
Cash and cash equivalents at beginning of year excluding on behalf of customer 1,434,764 1,141,143

Cash and cash equivalents at end of year 814,352 1,434,764
Cash and cash equivalents comprise:
Cash and bank balances 5,647 96,283
Deposits and placements with financial institutions 858,705 1,468,850
Less: Deposits and placements on behalf of customers (50,000) (130,369)
814,352 1,434,764

Notes to the financial statements for Islamic business fund and Takaful fund for the financial year ended 31 December 2021

(a) Cash and bank balances
Group and Bank
2021 2020
RM’000 RM’000

Cash and bank balances 6,423 97,042

(b) Deposits and placements with banks and other financial institutions

Group and Bank
Shareholder’s Takaful Total
fund Fund fund
RM’000 RM’000 RM’000

2021
Deposits and placements with:
Licensed banks 228,134 - 228,134
Other financial institutions 629,882 16,879 646,761
858,016 16,879 874,895

2020

Deposits and placements with:
Licensed banks 782,781 - 782,781
Other financial institutions 686,246 15,457 701,703
1,469,027 15,457 1,484,484