Page 253 - Bank-Muamalat_Annual-Report-2023

ANNUAL REPORT 2023
OUR NUMBERS

10. STATUTORY DEPOSITS WITH BANK NEGARA MALAYSIA
The statutory deposits are maintained with Bank Negara Malaysia in compliance with Section 26(2)(c) and Section 26(3)
of the Central Bank of Malaysia Act, 2009, the amounts of which are determined at set percentages of total eligible
liabilities.

11. INVESTMENT IN SUBSIDIARIES
Bank
2023 2022
RM’000 RM’000

Unquoted shares at cost - in Malaysia 13,823 13,823
Less: Accumulated impairment losses (664) (664)

13,159 13,159

Details of the subsidiary companies that are all incorporated in Malaysia are as follows:

Name Principal activities Percentage of equity held Paid up capital
2023 2022 2023 2022
% % RM RM

Muamalat Invest Provision of Islamic 100 100 13,000,000 13,000,000
Sdn. Bhd. Fund Management
Services
Muamalat Venture Islamic Venture 100 100 100,002 100,002
Sdn. Bhd. Capital
Muamalat Nominees Dormant 100 100 2 2
(Tempatan) Sdn. Bhd.
Muamalat Nominees Dormant 100 100 2 2
(Asing) Sdn. Bhd.

The companies above are audited by a firm of chartered accounts, KPMG PLT, Malaysia.

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