Page 236 - Bank Muamalat_AR24

234 BANK MUAMALAT MALAYSIA BERHAD

NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2024 (29 JAMADIL AKHIR 1446H)

5. FINANCIAL INVESTMENTS (CONT’D.)

(iii) Financial investments at amortised cost (cont’d.)
Movements in the allowances for impairment losses on financial investments at amortised cost are as follows for the
Group and the Bank:
Stage 1 Stage 2 Stage 3
Lifetime ECL Lifetime ECL
not credit credit
12-Months ECL impaired impaired Total ECL
Group and Bank RM’000 RM’000 RM’000 RM’000

2024
At 1 January 2024 - - 31,938 31,938
Allowance made (Note 32) - - 44,760 44,760
At 31 December 2024 - - 76,698 76,698

2023
At 1 January 2023 - - 34,185 34,185
Management overlay redesignated - - (2,247) (2,247)
At 31 December 2023 - - 31,938 31,938

6. ISLAMIC DERIVATIVE FINANCIAL ASSETS/(LIABILITIES)
The table below shows the fair values of Islamic derivative financial instruments, recorded as assets or liabilities, together with
their notional amounts. The notional amounts, recorded gross, is the amount of a derivative’s underlying asset, reference rate
or index and is the basis upon which changes in the value of derivatives are measured. The notional amounts indicate the
volume of transactions outstanding at the year end and are indicative of neither the market risk nor the credit risk.

2024 2023
Contract/ Contract/
notional Fair value notional Fair value
amount Assets Liabilities amount Assets Liabilities
Group and Bank RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

Foreign exchange contracts:
- Currency forwards Less than one year 1,095,377 9,672 (13,709) 931,445 362 (16,555)
- Currency swaps Less than one year 726,063 4,789 (3,594) 1,317,642 12,451 (4,671)
- Currency spot Less than one year 29,168 35 (6) 38,276 6 (293)
Total 1,850,608 14,496 (17,309) 2,287,363 12,819 (21,519)