Page 270 - Bank Muamalat_AR24

268 BANK MUAMALAT MALAYSIA BERHAD

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

18. INVESTMENT ACCOUNTS OF CUSTOMERS (CONT’D.)

(v) Investment account holders (“IAH”) profit sharing ratio and rate of return are as follows:
Group and Bank Group and Bank
2024 2023
Average Average
profit Average profit Average
sharing rate sharing rate
ratio of return ratio of return
(%) (%) (%) (%)

Unrestricted investment accounts 2.0% 0.09% 2.0% 0.09%

Restricted investment accounts 95.0% 0.00% 95.0% 0.00%

19. DEPOSITS AND PLACEMENTS OF BANKS AND OTHER FINANCIAL INSTITUTIONS

Group and Bank
2024 2023
RM’000 RM’000

Non-Mudarabah
Bank Negara Malaysia 385,413 345,666
Licensed banks 453,308 183,968
838,721 529,634

Included in these balances are the BNM funds received under government financing schemes for the purpose of SME
lending at a below market and concession rate with 5.5 years to 8.5 years of maturity to be repaid between 2026 and
2031. The gross amount received from BNM of RM313,527,000 (2023: RM313,530,000) are net against the fair value
gain arising from the placement of funds with the Group and the Bank. The fair value is applied to address the financial
and accounting impact incurred from financing at concession rates to SMEs and for COVID-19 related relief measures.

20. BILLS AND ACCEPTANCES PAYABLE
Bills and acceptances payable represent the Group’s and the Bank’s own bills and acceptances rediscounted and
outstanding in the market.