Page 338 - Bank Muamalat_AR24

336 BANK MUAMALAT MALAYSIA BERHAD

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

47. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONT’D.)

(c) Liquidity and funding risk (cont’d.)
(ii) Maturity analysis of financial liabilities on an undiscounted basis (cont’d.)

On demand
or up to >1-3 >3-6 >6-12
1 Month Months Months Months >1 Year Total
Bank RM’000 RM’000 RM’000 RM’000 RM’000 RM’000

2023
Non-derivative liabilities
Deposits from customers 17,831,079 6,208,064 5,163,675 2,748,282 1,186,488 33,137,588
Investment accounts of customers 247,689 - - - - 247,689
Deposits and placements of banks
and other financial institutions 184,586 - 200 - 345,416 530,202
Bills and acceptances payable - 13,773 - - - 13,773
Other financial liabilities 23,374 - - 77,731 - 101,105
Lease liabilities 1,033 2,001 2,960 5,867 30,394 42,255
Recourse obligation on financing
sold to Cagamas - - 204,069 - 910,739 1,114,808
Subordinated sukuk 7,995 - 11,250 19,245 1,051,834 1,090,324
Derivative liabilities 4,767 9,470 7,282 - - 21,519
Total financial liabilities 18,300,523 6,233,308 5,389,436 2,851,125 3,524,871 36,299,263

(d) Operational risk
Operational risk is defined as the risk of losses resulting from inadequate or failed internal processes and systems,
human factors, and/or from various external events. The objective of operational risk management (“ORM”) is to
effectively manage these risks to minimise possible financial losses arising from operational lapses. In relation to
ORM, the key risk organs which play a critical role in the overall integrated risk management framework are the
ORM unit, Operational Risk Management Committee (“ORMC”), Internal Audit, Compliance, and the business lines.
The operational risk management processes include establishment of system of internal controls, identification
and assessment of operational risk inherent in new and existing products, processes and systems, regular disaster
recovery and business continuity planning and simulations, self-compliance audit, and operational risk incident
reporting and data collection.