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Management Discussion and Analysis Ensuring Sustainability Commitment to Lead Upholding Accountability Financial Statements 223

Notes to the fiNaNcial statemeNts

45. ISLAMIC BuSINESS FuNDS (cont’d)
Statement of changes in Islamic business fund and Takaful fund for the year ended 31 December 2023

Islamic Fair value
Banking Accumulated adjustment
Fund losses reserve Total
rM’000 rM’000 rM’000 rM’000

Group and Bank
At 31 December 2021/1 January 2022,
as previously stated 800,000 (88,733) (11,280) 699,987
Prior year adjustment - 3,355 - 3,355
Net loss for the year - (24,231) - (24,231)
Other comprehensive loss - - (10,019) (10,019)
At 31 December 2021/1 January 2022, as restated 800,000 (109,609) (21,299) 669,092

At 31 December 2022/1 January 2022, as previously stated 800,000 (112,964) (21,299) 665,737
Prior year adjustment in 2021 - 3,355 - 3,355
Prior year adjustment - 2,096 - 2,096
At 31 December 2022/1 January 2023, as restated 800,000 (107,513) (21,299) 671,188
Net profit for the year - 35,341 - 35,341
Other comprehensive income - - 4,675 4,675
At 31 December 2023 800,000 (72,172) (16,624) 711,204