Page 235 - EXIM-Bank_Annual-Report-2023

Management Discussion and Analysis Ensuring Sustainability Commitment to Lead Upholding Accountability Financial Statements 233

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)
(f) Islamic financing (cont’d)
(viii) Movements in the allowance for ECL for impaired advances and financing 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
2023
At 1 January 41,508 15,345 337,389 394,242
Transferred to Stage 1 54 (54) - -
Transferred to Stage 3 - (4,881) 4,881 -
Allowance/Writeback 4,174 335 1,457 5,966
Financial assets derecognised (12,516) (269) - (12,785)
Changes due to change in credit risk (288) (2,521) - (2,809)
Modification to contractual cash flows of
financial assets (3) (2) - (5)
Total net profit and loss charge during the period (8,579) (7,392) 6,338 (9,633)
Write offs - - (43,028) (43,028)
Exchange differences - - 12,949 12,949
At 31 December 32,929 7,953 313,648 354,530

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
2022

At 1 January 27,064 80,941 527,025 635,030
Transferred to Stage 1 44,823 (44,823) - -
Transferred to Stage 3 - (17,103) 17,103 -
(Writeback)/Allowance (3,810) (104) (391) (4,305)
Financial assets derecognised (14,626) (9,397) - (24,023)
Changes due to change in credit risk (11,943) 2,304 - (9,639)
Modification to contractual cash flows of
financial assets - 3,527 - 3,527
Total net profit and loss charge during the period 14,444 (65,596) 16,712 (34,440)
Write offs - - (226,033) (226,033)
Exchange differences - - 19,685 19,685
At 31 December 41,508 15,345 337,389 394,242