Page 233 - EXIM-Bank_Annual-Report-2022

A VISION COMMITMENT EMPOWERING ENSURING ENHANCING FINANCIAL
TO SERVE TO LEAD GROWTH SUSTAINABILITY GOVERNANCE STATEMENTS 231

Notes to the fiNaNcial statemeNts

46. ISLaMIC BUSINESS FUNDS (cont’d.)
Notes to the financial statements for Islamic business fund and Takaful fund for the financial year ended 31 December
2022 (cont’d.)
(k) Takaful participants fund (cont’d.)
Measurement and impairment of qard

Any deficit in the Takaful fund is made good via a benevolent financing, or qard, granted by the Islamic business fund.
qard is stated at cost less any accumulated impairment losses in the Islamic business fund. In the Takaful fund, qard is
stated at cost. The qard shall be repaid from future surpluses of the Takaful fund.
qard is tested for impairment on an annual basis via an assessment of the estimated surpluses or cash flows from the Takaful
fund to determine whether there is objective evidence of impairment. If the qard is impaired, an amount comprising the
difference between its carrying amount and its recoverable amount, less any impairment loss previously recognised,
is recognised in the statements of profit or loss.

Impairment losses are subsequently reversed in the statements of profit or loss if objective evidence exists that the qard
is no longer impaired.

Group and Bank
2022 2021
rM’000 rM’000
(i) Accumulated deficit
At beginning of the year (8,590) (11,483)
Net surplus of the Takaful fund 3,722 2,893

At end of the year (4,868) (8,590)

(ii) qard
At beginning of the year 8,590 11,483
Decrease in qard (3,722) (2,893)
At end of the year 4,868 8,590