Page 363 - Bank-Muamalat_Annual-Report-2023

ANNUAL REPORT 2023
OUR NUMBERS

52. SEGMENT INFORMATION (CONT’D.)
(a) Business segments (cont’d.)

Business Consumer Treasury
Bank banking banking banking Others Total
2022 RM’000 RM’000 RM’000 RM’000 RM’000

Revenue 291,274 865,614 172,121 3,424 1,332,433

Total income 180,514 453,957 17,089 227,389 878,949
Write-back of/(allowance for)
impairment on financing 8,049 (49,059) - - (41,010)
Allowance for impairment
losses on investments - - (4,371) - (4,371)
Allowance for impairment losses
on other financial assets, net - - (38) - (38)
Other expenses - - - (26,602) (26,602)
Total net income 188,563 404,898 12,680 200,787 806,928
Total overhead expenses (506,418)
Profit before zakat and
taxation 300,510
Zakat (2,254)
Taxation (78,818)
Profit for the year 219,438

53. SHARIAH DISCLOSURES
(a) Shariah governance
Overview

The Group’s and the Bank’s shariah governance structure are governed by BNM’s guidelines on Shariah
Governance Policy Document which comes into effect on 1 April 2020 and any related guidelines issued by
the authorities, subject to variations and amendments from time to time.
In this context, Shariah non-compliance risk defined as the risk that arises from the Group’s and the Bank’s failure
to comply with the Shariah rules and principles determined by the Shariah Committee (“SC”) of the Group and
the Bank and relevant Shariah Authorities (“SA”) committees.
This risk is managed through the Bank Muamalat Malaysia Berhad (“Bank Muamalat”) Shariah Governance Policy,
which was endorsed by the SC and approved by the Board of Directors. The policy is drawn up in accordance
to the BNM Shariah Governance Policy Document.
To ensure the operations and business activities of the Group and the Bank remain consistent with Shariah principles and
its requirements, the Bank has established its own internal SC and internal Shariah organisation, which consists of the
Shariah Department, Shariah Audit under the Internal Audit Department, Shariah Review under Regulatory Advisory &
Compliance Division, and Shariah Risk under the Risk Management Department.

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