Page 188 - Bank Muamalat_AR24

186 BANK MUAMALAT MALAYSIA BERHAD

DIRECTORS’ REPORT

DIRECTORS’ BENEFITS

Since the end of the previous financial year, no Director has received nor become entitled to receive a benefit (other than benefits
included in the aggregate amount of emoluments received or due and receivable by the Directors from or the fixed salary of a
full-time employee of the Bank as shown in Note 36 to the financial statements or from related corporations) by reason of a
contract made by the Bank or a related corporation with the Director or with a firm of which, the Director is a member, or with a
company in which the Director has a substantial financial interest.

The Directors’ benefits paid to or receivable by Directors in respect of the financial year ended 31 December 2024 are as follows:
From the
From the subsidiary
Bank companies
RM’000 RM’000

Directors of the Bank:
Director fees 1,829 40
Director’s other emoluments 1,169 16
Estimated money value of any other benefits 41 -

3,039 56

Neither at the end of the financial year, nor at any time during that year, did there subsist any arrangement to which the Bank was
a party, whereby Directors might acquire benefits by means of the acquisition of shares in or debentures of the Bank or any other
body corporate.

ISSUE OF SHARES

There were no changes to the issued and paid-up capital during the financial year.

INDEMNITY AND TAKAFUL COST

Directors’ and Officers’ liability takaful is in place to protect the Directors and Officers of the Group and of the Bank against
potential costs and liabilities arising from claims brought against the Directors and Officers. The Bank has maintained a Directors’
and Officers’ liability takaful up to an aggregate limit of RM40.0 million against any liability incurred by the Directors and Officers.
The gross amount of takaful contribution paid by the Bank for the Directors and Officers of Bank Muamalat Malaysia Berhad
(“BMMB”) and its subsidiaries for the current financial year was RM230,000.

OTHER STATUTORY INFORMATION
(a) Before the statements of profit or loss, statements of other comprehensive income and statements of financial position of the
Group and of the Bank were made out, the Directors took reasonable steps:
(i) to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of allowance
for doubtful debts and satisfied themselves that all known bad debts had been written off and that adequate allowance
had been made for doubtful debts; and
(ii) to ensure that any current assets which were unlikely to realise their value as shown in the accounting records in the
ordinary course of business had been written down to an amount which they might be expected so to realise.