Page 218 - EXIM-Bank_Annual-Report-2022

216 eXIM BANK MALAYsIA ANNUAL REPORT 2022

Notes to the fiNaNcial statemeNts

46. ISLaMIC BUSINESS FUNDS (cont’d.)
Statement of profit or loss for the year ended 31 December 2022
Group and Bank
2022 2021
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 (h) 125,769 - 125,769 148,793 - 148,793
Financing cost (52,277) - (52,277) (29,538) - (29,538)
Net income from Islamic
banking fund 73,492 - 73,492 119,255 - 119,255
Gross contribution - 1,695 1,695 - 2,026 2,026
Wakalah fee 907 (907) - (58) 58 -
Reinsurance outward - (59) (59) - (33) (33)
Decrease/(Increase) in
contribution liability - 2,927 2,927 - (3,474) (3,474)
Decrease in claim liability
(Note 24) - 23 23 - 4,226 4,226
Decrease in expenses liability
(Note 24) 3 - 3 186 - 186
Takaful fees and brokerage
commission 94 - 94 125 - 125
Income from Takaful activities 1,004 3,679 4,683 253 2,803 3,056

Islamic banking fund and
Takaful fund results 74,496 3,679 78,175 119,508 2,803 122,311
Other expenses (i) (24,886) - (24,886) (16,310) - (16,310)
Net Income from Islamic business 49,610 3,679 53,289 103,198 2,803 106,001
Administrative expenses (934) - (934) (815) - (815)
Reversal on doubtful debt - 43 43 - 90 90
Writeback/(Allowances) for
expected credit losses (“ECL”)
on advances and financing (j) 34,440 - 34,440 (14,668) - (14,668)
Writeback for ECL on
commitments and contingencies 14,947 - 14,947 8,165 - 8,165
Allowances for ECL on financial
investments (126,016) - (126,016) (3,142) - (3,142)

(Loss)/Profit for the year
before zakat (27,953) 3,722 (24,231) 92,738 2,893 95,631
Zakat - - - - - -
Net (loss)/profit for the year (27,953) 3,722 (24,231) 92,738 2,893 95,631