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220 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.)

(o) Provision for commitments and contingencies
Group and Bank
2020 2019
RM’000 RM’000

Provision for commitments and contingencies 39,813 40,963

Movements in the provisions for commitments and contingencies are as follow:

Stage 2 Stage 3
Stage 1 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 10,825 1,657 - 12,482
Changes due change in credit risk 10,467 (1,037) - 9,430
Reversal ECL during the year 6,100 8 12,943 19,051
At 31 December 2019/1 January 2020 27,392 628 12,943 40,963
Transferred to Stage 2 (5,239) 5,239 - -
Transferred to Stage 3 - (407) 407 -
Changes due change in credit risk (2,094) 1,024 - (1,070)
Modification to contractual cash flows of financial assets 2,393 572 - 2,965
Allowance/(written back) during the year (7,662) 5,024 (407) (3,045)
At 31 December 2020 14,790 12,080 12,943 39,813

(p) Shariah directors remuneration
Group and Bank
2020 2019
RM’000 RM’000

Salaries and other short-term benefits 372 407