Page 238 - Exim iar24_Ebook

EXIM BANK MALAYSIA
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NOTES TO THE FINANCIAL STATEMENTS

44. ISLAMIC BUSINESS (cont’d)
Notes to the financial statements for Islamic business fund and Takaful fund for the financial year ended 31 December 2024
(cont’d)

(o) Commitments and contingencies
Group and Bank
2024 2023
RM’000 RM’000

Banking operation commitments
Contracted but not provided for:
Guarantee facility 5,193 2,152
Letter of credit - 286
Undrawn financing 766,024 908,778
Total commitments and contingencies 771,217 911,216

(p) Shariah disclosures
(i) Shariah non-compliant (“SNC”) events
There are two (2) events related to SNC event occurred as follows:

2024 2023
No. of event RM’000 No. of event RM’000
SNC with no financial impact to the Bank:
Collection of profit prior execution of
Tawarruq transaction 1 - - -
SNC with financial impact to the Bank:
Inappropriate Investment of Islamic Cash
Collateral inConventional Money Market Instrument 1 153 1 -
2 153 1 -

(ii) Sources and uses of charity funds

Group and Bank
2024 2023
RM’000 RM’000

At 1 January 2,079 2,640
Funds distributed during the year
- Contribution to non-profit organisation (478) (561)
Funds received during the year 619 -
At 31 December 2,220 2,079

Monies derived from the SNC event on Islamic financing activities as disclosed in Shariah Committee’s Report
under note disclosure on SNC Event were channelled to charity fund and distributed progressively to the eligible
beneficiaries.