Page 182 - Bank-Muamalat-Annual-Report-2021

180 BANK MUAMALAT MALAYSIA BERHAD
ABOUT US OUR LEADERSHIP OUR STRATEGY OUR PERFORMANCE

NOTES TO THE

FINANCIAL STATEMENTS

31 DECEMbEr 2021 (26 JAMADIL AwAL 1443H)

1. cORPORATe INfORMATION

Bank Muamalat Malaysia Berhad (the “Bank”) is principally engaged in all aspects of Islamic banking business and related
financial services in accordance with Shariah principles.

The principal activities of the subsidiaries are as disclosed in Note 11.
There have been no significant changes in the nature of these activities during the financial year.
The Bank is a licensed Islamic Bank under the Islamic Financial Services Act, 2013 (“IFSA”), incorporated and domiciled in
Malaysia. The registered office of the Bank is located at 30th Floor, Menara Bumiputra, Jalan Melaka, 50100 Kuala Lumpur.
The holding and ultimate holding companies of the Bank are DRB-HICOM Berhad and Etika Strategi Sdn. Bhd. respectively,
both of which are incorporated in Malaysia. DRB-HICOM Berhad, is a public limited liability company listed on the Main
Market of Bursa Malaysia Securities Berhad. DRB-Hicom Berhad holds 70% of the Bank’s shares, whilst the remaining 30% is
held by Khazanah Nasional Berhad.

The financial statements were authorised for issuance by the Board of Directors in accordance with a resolution of the Board
of Directors on 28 March 2022.

2. sIGNIfIcANT AccOuNTING POLIcIes
2.1 Basis of preparation

The financial statements of the Bank and its subsidiaries (the ”Group”) have been prepared in accordance with the
Malaysian Financial Reporting Standards (“MFRS”), International Financial Reporting Standards (“IFRS”), and the
requirements of the Companies Act, 2016 in Malaysia.
The financial statements are presented in Ringgit Malaysia (“RM”) and rounded to the nearest thousand (RM’000)
except when otherwise indicated.
The financial statements of the Group and of the Bank are prepared under the historical cost basis, unless otherwise
indicated in the respective accounting policies highlighted in the following pages.
The Group and the Bank present the statements of financial position in order of liquidity.