Page 223 - EXIM_AR2021

ANNUAL REPORT 2021 221

Notes to the fiNaNcial statemeNts

44. islamic bUsiness fUnDs (cOnt’D.)

Notes to the financial statements for Islamic business fund and Takaful fund for the financial year ended 31 December 2021
(cont’d.)
(d) Islamic financing (cont’d.)

(viii) Movements in the allowance for impaired advances and financing are as follows:
Stage 1 Stage 2 Stage 3
Lifetime ECL Lifetime ECL
12-month not credit credit
ECL impaired impaired Total ECL
RM’000 RM’000 RM’000 RM’000

2021
At 1 January 30,304 54,662 657,977 742,943
Transferred from Stage 1 (3,857) 3,857 - -
Transferred to Stage 2 - (9,487) 9,487 -
Allowance/(Written back) 1,192 4,594 (16,114) (10,328)
Financial assets derecognised (3,599) (3,939) - (7,538)
Changes due to change in credit risk 3,493 15,787 - 19,280
Modification to contractual cash flows of
financial assets (469) 15,467 - 14,998
Total net profit and loss charge during the period (3,240) 26,279 (6,627) 16,412
Write offs - - (142,078) (142,078)
Exchange differences - - 19,496 19,496
At 31 December 27,064 80,941 528,768 636,773

2020
At 1 January 35,801 39,453 686,375 761,629
Transferred to Stage 1 (281) 38 243 -
Transferred to Stage 2 - (1,713) 1,713 -
(Written back)/allowance 12,586 (6,322) (14,724) (8,460)
Financial assets derecognised (11,984) (30) - (12,014)
Changes due to change in credit risk (4,090) 4,759 - 669
Modification to contractual cash flows of
financial assets (1,728) 18,477 - 16,749
Total net profit and loss charge during the period (5,497) 15,209 (12,768) (3,056)
Write offs - - (4,496) (4,496)
Exchange differences - - (11,134) (11,134)
At 31 December 30,304 54,662 657,977 742,943