Page 234 - EXIM-Bank_Annual-Report-2022

232 eXIM BANK MALAYsIA ANNUAL REPORT 2022

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.)
(l) Commitments and contingencies

Group and Bank
2022 2021
rM’000 rM’000
Banking operation commitments
Contracted but not provided for:
Guarantee facility 2,152 3,450
Letter of credit 1,500 645
Undrawn financing 441,268 816,149
444,920 820,244

Takaful operation commitments
Contracted but not provided for:
Within one year 326,097 319,069
One year or later and no later than five years 184,380 174,930
510,477 493,999

Total commitments and contingencies 955,397 1,314,243

(m) Shariah disclosures
(i) Shariah non-compliant events
There is one (1) event related to SNC event occurred as follows:

Group and Bank
2022 2021
No. of event rM’000 No. of event rM’000
SNC with no financial impact to the Bank:
Non-adherence to the requirement of
Ijarah rental based on benchmark
(Variable Rate) 1 - - -
SNC income derecognised from the Bank’s due to:
Treatment NCB - - 1 1,262
Absence of Tawarruq Transaction - - 1 2

1 - 2 1,264