Page 209 - EXIM-BANK-AR20

Section 06 Financial Statements
207

44. ISLAMIC BUSINESS FUNDS (CONT’D.)
Notes to the financial statements for Islamic business fund and Takaful fund for the financial year ended 31 December
2020 (cont’d.)

(c) Financial investments (cont’d.)
Movements in the allowances for expected credit losses on financial investments at FVOCI are as follows:

Stage 1 Stage 2 Stage 3
Lifetime ECL Lifetime ECL
12-month not credit credit
ECL impaired impaired Total ECL
RM’000 RM’000 RM’000 RM’000

At 1 January 2019 2 82,738 - 82,740
Reversal during the year (2) (11,499) - (11,501)
Exchange differences - - - -
At 1 January 2020 - 71,239 - 71,239
Allowance during the year - 42,665 - 42,665
At 31 December 2020 - 113,904 - 113,904

(d) Islamic financing

Group and Bank
2020 2019
RM’000 RM’000
(i) Murabahah 127,103 781,476
Istisna’ 25,061 200,515
Tawarruq 2,372,374 2,011,767
Ijarah ** 301,746 156,055
Ad- Dayn - 98,110
2,826,284 3,247,923
Less: Allowance for expected credit losses on impaired advances and financing
- 12-month ECL - Stage 1 (30,304) (35,801)
- Lifetime not impaired ECL - Stage 2 (54,662) (39,453)
- Lifetime ECL credit impaired - Stage 3 (657,977) (686,375)
Net advances and financing 2,083,341 2,486,294

** Nil (2019: RM51,907,426) is in respect of Sukuk Programme of the Group.