Page 230 - EXIM-Bank_Annual-Report-2023

EXIM BANk MALAySIA
228 A Vision to Serve Empowering Growth Management Discussion and Analysis
ANNUAL REPORT 2023
Notes to the fiNaNcial statemeNts

45. ISLAMIC BuSINESS FuNDS (cont’d)
Notes to the financial statements for Islamic business fund and Takaful fund for the financial year ended 31 December 2023
(cont’d)
(e) Financial investments at amortised cost (cont’d)
Movements in the ECL on financial investments at amortised cost are as follows:

Stage 2 Stage 3
Stage 1 Lifetime ECL Lifetime
12-month not credit ECL credit
ECL impaired impaired Total ECL
rM’000 rM’000 rM’000 rM’000
At 1 January 2022 - 118,101 - 118,101
Transferred to Stage 3 - (118,101) 118,101 -
Allowance during the year - - 132,683 132,683
At 31 December 2022/1 January 2023 - - 250,784 250,784
Reversal during the year - - (483) (483)
Exchange differences - - 11,405 11,405
At 31 December 2023 - - 261,706 261,706

(f) Islamic financing
Group and Bank
2023 2022
rM’000 rM’000
(i) Murabahah 54,556 73,831
Istisna’ 28,528 27,255
Tawarruq 1,467,890 1,510,901
Ijarah 65,699 67,324
Amount due from Export Credit Refinancing(“ECR”)* debtors 18,696 -
1,635,369 1,679,311
Less: Allowance for ECL on impaired advances and financing
- 12-month ECL - Stage 1 (32,929) (41,508)
- Lifetime not impaired ECL - Stage 2 (7,953) (15,345)
- Lifetime ECL credit impaired - Stage 3 (313,648) (337,389)
Net advances and financing 1,280,839 1,285,069