Page 365 - Bank-Muamalat_Annual-Report-2023

ANNUAL REPORT 2023
OUR NUMBERS

53. SHARIAH DISCLOSURES (CONT’D.)
(b) Recognition and measurement by main class of Shariah contracts

The recognition and measurement of each main class of Shariah contract is dependent on the nature of the
products, either financing or deposit product. The accounting policies for each of these products are disclosed in
their respective policies.

54. COMPARATIVE FIGURES
Comparative figures for financing of customer note have been restated to conform with current year’s presentation.

Movements in the gross carrying amount of financing of customers
Stage 1 Stage 2 Stage 3 Total
Group RM’000 RM’000 RM’000 RM’000

2022
As restated
At 1 January 2022 20,476,429 201,514 172,073 20,850,016
Total transfer within stages:
Transfer to Stage 1 80,475 (63,025) (17,450) -
Transfer to Stage 2 (440,927) 444,723 (3,796) -
Transfer to Stage 3 (130,026) (40,452) 170,478 -
New financial assets originated 9,382,034 - - 9,382,034
Financial assets derecognised (5,858,305) (25,924) (72,374) (5,956,603)
Effects of modifications to contractual
cash flows of financial assets 25,654 343 957 26,954
Amount written-off - - (43,931) (43,931)
At 31 December 2022 23,535,334 517,179 205,957 24,258,470

As previously stated
At 1 January 2022 20,476,429 201,514 172,073 20,850,016
Total transfer within stages:
Transfer to Stage 1 571,588 (527,587) (44,001) -
Transfer to Stage 2 (1,000,436) 1,047,063 (46,627) -
Transfer to Stage 3 (98,766) (170,624) 269,390 -
New financial assets originated 6,259,695 - - 6,259,695
Financial assets derecognised (2,698,830) (33,530) (101,904) (2,834,264)
Effects of modifications to contractual
cash flows of financial assets 25,654 343 957 26,954
Amount written-off - - (43,931) (43,931)

At 31 December 2022 23,535,334 517,179 205,957 24,258,470

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