Page 237 - Bank-Muamalat_Annual-Report-2023
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ANNUAL REPORT 2023
                                                                                                        OUR NUMBERS














            5.   FINANCIAL INVESTMENTS (CONT’D.)
                 (iii)  Financial  investments  at  amortised  cost  (cont’d.)

                     Movements in the allowances for impairment losses on financial investments at amortised cost are as follows for the
                     Group and the Bank:
                                                                   Stage  1       Stage  2      Stage  3
                                                                             Lifetime  ECL   Lifetime  ECL
                                                                               not  credit        credit
                                                            12-Months  ECL      impaired        impaired    Total  ECL
                     Group  and  Bank                              RM’000         RM’000        RM’000       RM’000

                     2023
                     At 1 January                                        -             -        34,185        34,185
                     Management overlay redesignated                     -             -         (2,247)       (2,247)
                     At 31 December                                      -             -        31,938        31,938


                     2022
                     At 1 January                                        -        39,640              -        39,640
                     Transfer to Stage 3                                 -        (39,640)      39,640             -
                     Net writeback                                       -             -         (5,455)       (5,455)
                     Allowance made (Note 32)                            -             -         6,457          6,457
                     Management overlay redesignated                     -             -        (11,912)      (11,912)

                     At 31 December                                      -             -         34,185        34,185



            6.   ISLAMIC DERIVATIVE FINANCIAL ASSETS/(LIABILITIES)

                 The table below shows the fair values of Islamic derivative financial instruments, recorded as assets or liabilities, together with
                 their notional amounts. The notional amounts, recorded gross, is the amount of a derivative’s underlying asset, reference rate
                 or index and is the basis upon which changes in the value of derivatives are measured. The notional amounts indicate the
                 volume of transactions outstanding at the year end and are indicative of neither the market risk nor the credit risk.
                                                                 2023                              2022
                                                         Contract/                       Contract/
                                                          notional       Fair  value      notional     Fair  value
                                                           amount     Assets  Liabilities   amount   Assets  Liabilities
                Group  and  Bank                          RM’000     RM’000    RM’000    RM’000    RM’000    RM’000

                Foreign  exchange  contracts:
                - Currency forwards Less than one year     931,445      362     (16,555)    787,210     936     (20,833)
                - Currency swaps Less than one year      1,317,642     12,451    (4,671)    986,752     3,263     (2,251)
                - Currency spot Less than one year         38,276         6       (293)     12,468      48        (27)
                Total                                    2,287,363     12,819    (21,519)    1,786,430     4,247     (23,111)









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