Page 348 - Bank-Muamalat_Annual-Report-2023
P. 348
BANK MUAMALAT MALAYSIA BERHAD
NOTES TO THE
FINANCIAL STATEMENTS
31 DECEMBER 2023 (18 JAMADIL AKHIR 1445H)
47. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONT’D.)
(c) Liquidity and funding risk (cont’d.)
(ii) Maturity analysis of financial liabilities on an undiscounted basis (cont’d.)
Up to >7 Days - >1-3 >3-6 >6-12
Bank 7 Days 1 Month Months Months Months >1 Year Total
2022 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Non-derivative liabilities
Deposits from customers 10,773,756 5,087,840 6,291,237 2,565,162 732,727 1,089,392 26,540,114
Investment accounts of
customers 301,158 - - - - - 301,158
Deposits and placements
of banks and other
financial institutions - 200 - 500 1,300 304,163 306,163
Bills and acceptances
payable - - 20,218 - - - 20,218
Other financial liabilities - 18,103 - - 76,321 - 94,424
Lease liabilities - - 2,823 2,598 6,959 37,953 50,333
Recourse obligation
on financing sold
to Cagamas - - - - - 642,213 642,213
Subordinated sukuk - 7,995 - 8,220 19,245 1,009,785 1,045,245
Derivative liabilities 5,556 5,982 11,269 304 - - 23,111
Total financial liabilities 11,080,470 5,120,120 6,325,547 2,576,784 836,552 3,083,506 29,022,979
(d) Operational risk
Operational risk is defined as the risk of losses resulting from inadequate or failed internal processes and systems,
human factors, and/or from various external events. The objective of operational risk management (“ORM”) is
to effectively manage these risks to minimise possible financial losses arising from operational lapses. In relation to
ORM, the key risk organs which play a critical role in the overall integrated risk management framework are the ORM
unit, Operational Risk Management Committee (“ORMC”), Internal Audit, Compliance, and the business lines.
The operational risk management processes include establishment of system of internal controls, identification and
assessment of operational risk inherent in new and existing products, processes and systems, regular disaster recovery
and business continuity planning and simulations, self-compliance audit, and operational risk incident reporting
and data collection.
346
