Page 355 - Bank-Muamalat_Annual-Report-2023

ANNUAL REPORT 2023
OUR NUMBERS

49. OFFSETTING FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Financial assets and financial liabilities subject to offsetting, enforceable master netting arrangements and similar
agreements are as follows:
Amount not set-off
in the statement of
financial position
Gross
amount of Gross Net amount
recognised amount set- presented Amount
financial off in the in the related to Amount
assets/ statement statement recognised related to
(financial of financial of financial financial financial

liabilities) position position instruments collateral Net amount

Group and Bank RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
2023
Derivative assets 12,819 - 12,819 - - 12,819
Derivative liabilities (21,519) - (21,519) - - (21,519)

2022
Derivative assets 4,247 - 4,247 - - 4,247
Derivative liabilities (23,111) - (23,111) - - (23,111)

Financial assets and financial liabilities are offset and the net amount is reported in the statement of financial position
when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net
basis, or realise the asset and settle the liability simultaneously.
The amount not set-off in the statement of financial position relate to transactions where:

(i) the counterparty has an offsetting exposure with the Group and the Bank and a master netting or similar arrangements
is in place with a right to set-off only in the event of default, insolvency or bankruptcy; and

(ii) cash or securities are received or cash pledged in respect of the transaction described above.

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