Page 158 - Bank-Muamalat-AR2020

156 BANK MUAMALAT MALAYSIA BERHAD About Us Our Leadership Our Strategy
ANNUAL REPORT FY2020

DIRECTORS’ REPORT

In the name of Allah, The Most Beneficent, The Most Merciful
The directors have pleasure in submitting their report together with the audited financial statements of the Group and of the Bank for
the financial year ended 31 December 2020.

PrINCIPAL ACTIvITIES
The Bank is principally engaged in Islamic banking business and the provision of related financial services. The principal activities of
the subsidiaries are disclosed in Note 11 to the financial statements.
There has been no signficant change in the nature of these activities during the financial year.

rESuLTS
Group Bank
rM’000 rM’000

Profit before zakat and taxation 174,768 171,216
Zakat (3,352) (3,282)
Taxation 1,441 3,334
Profit for the year 172,857 171,268

There were no material transfers to or from reserves or provisions during the financial year other than as disclosed in the financial
statements.

In the opinion of the directors, the results of the operations of the Group and of the Bank during the financial year were not substantially
affected by any item, transaction or event of a material and unusual nature other than the effects of COVID-19 pandemic and related
support measures as disclosed in Notes 8 (b)(iii), 27 (a) and 29 (b).

DIvIDENDS
No dividend has been paid or declared by the Bank since the end of the previous financial period. The directors do not recommend
the payment of any dividend in respect of the current financial year.

DIrECTOrS
The names of the directors of the Bank in office since the beginning of the financial year to the date of this report are:
Datuk Seri Tajuddin Atan (Director) (appointed on 6 May 2020)
(Chairman) (appointed on 3 June 2020)
Tan Sri Dato’ Dr Mohd Munir Abdul Majid (resigned on 2 June 2020)
Dato’ Sri Che Khalib Mohamad Noh
Dato’ Ibrahim Taib
Iwan Rashman Gulamoydeen
Ghazali Hj Darman
Md. Khairuddin Hj Arshad
Johari Abdul Muid (appointed on 10 November 2020)
Dr. Azura Othman (non-reappointment on 30 September 2020)
Dato’ Haji Kamil Khalid Ariff (resigned on 28 September 2020)
Dato’ Hj Che Pee Samsudin (resigned on 28 March 2020)