Page 232 - EXIM_AR2021

230 FINANCIAL EXIM BANK MALAYSIA
STATEMENTS

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.)
(o) Provision for commitments and contingencies

Group and Bank
2021 2020
RM’000 RM’000

Provision for commitments and contingencies 31,736 39,813

Movements in the provisions for commitments and contingencies are as follow:
Stage 2 Stage 3
Stage 1 Lifetime ECL Lifetime ECL
12-month not credit credit
ECL impaired impaired Total ECL
RM’000 RM’000 RM’000 RM’000

At 1 January 2020 27,392 628 12,943 40,963
Changes due change in credit risk (2,094) 1,024 - (1,070)
Reversal ECL during the year (10,508) 10,428 - (80)
At 31 December 2020/1 January 2021 14,790 12,080 12,943 39,813
Transferred to Stage 2 (127) 127 - -
Transferred to Stage 3 - (436) 436 -
Financial assets derecognised (3,534) (247) - (3,781)
Changes due change in credit risk 9,801 (2,692) - 7,109
Modification to contractual cash flows of financial assets (17) (249) - (266)
(Written back)/allowance during the year (4,004) 749 (7,916) (11,171)
Exchange differences - - 32 32
At 31 December 2021 16,909 9,332 5,495 31,736

(p) Shariah directors remuneration
Group and Bank
2021 2020
RM’000 RM’000

Salaries and other short-term benefits 328 372