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218 EXIM BANK MALAYSIA
Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS

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.)

(l) Shariah disclosures
(i) Shariah non-compliant events

There is one event related to Shariah non-compliant event occurred for the financial year ended 31 December 2020
of RM662.97 (2019:Nil).

(ii) Sources and uses of charity funds
Group and Bank
2020 2019
RM’000 RM’000

At 1 January 5,515 3,956
Funds collected during the year
- Income earned from late payment charges - 2,527
Funds distributed during the year
- Contribution to non-profit organisation (1,637) (968)
At 31 December 3,878 5,515

Monies derived from the Shariah non-compliant event and late payment charges on Islamic financing activities as
disclosed in Shariah Committee’s Report under note Disclosure on Shariah Non-Compliant Event were channelled to
charity fund and distributed progressively to the eligible beneficiaries. On 1 January 2020, the Group and the Bank
recognised the late payment charges on Islamic Financing activities to other income.

(m) Regulatory Capital
Group and Bank
Without With
Transitional Transitional
Arrangement Arrangement
2020 2020 2019
RM’000 RM’000 RM’000

Islamic banking fund 800,000 800,000 800,000
Accumulated losses (256,930) (256,930) (292,850)
Current year profit 84,049 84,049 35,920
Add: Transitional arrangement - 54,966 -
Eligible Tier 1 capital 627,119 682,085 543,070