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Management Discussion and Analysis Ensuring Sustainability Commitment to Lead Upholding Accountability Financial Statements 239

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)
(l) Commitments and contingencies
Group and Bank
2023 2022
rM’000 rM’000
Banking operation commitments
Contracted but not provided for:
Guarantee facility 2,152 2,152
Letter of credit 286 1,500
Undrawn financing 908,778 441,268

911,216 444,920

Takaful operation commitments
Contracted but not provided for:
Within one year 300,849 326,097
One year or later and no later than five years 192,780 184,380
493,629 510,477

Total commitments and contingencies 1,404,845 955,397

(m) Shariah disclosures

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

2023 2022
No. of event RM’000 No. of event RM’000
SNC with no financial impact to the Bank:
The payment made on behalf of customers,
without obtaining approval from the Shariah
Committee 1 - - -
Non-adherence to the requirement of
Ijarah rental based on benchmark
(Variable Rate) - - 1 -
1 - 1 -