Page 252 - Bank Muamalat_AR24

250 BANK MUAMALAT MALAYSIA BERHAD

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

10. STATUTORY DEPOSITS WITH BANK NEGARA MALAYSIA

The statutory deposits are maintained with Bank Negara Malaysia in compliance with Section 26(2)(c) and Section 26(3) of
the Central Bank of Malaysia Act, 2009, the amounts of which are determined at set percentages of total eligible liabilities.

11. INVESTMENT IN SUBSIDIARIES
Bank
2024 2023
RM’000 RM’000

Unquoted shares at cost - in Malaysia 13,823 13,823
Less: Accumulated impairment losses (664) (664)

13,159 13,159

Details of the subsidiary companies that are all incorporated in Malaysia are as follows:

Name Principal activities Percentage of equity held Paid up capital
2024 2023 2024 2023
% % RM RM

Muamalat Invest Provision of Islamic 100 100 13,000,000 13,000,000
Sdn. Bhd. Fund Management
Services
Muamalat Venture Islamic Venture 100 100 100,002 100,002
Sdn. Bhd. Capital
Muamalat Nominees Dormant 100 100 2 2
(Tempatan) Sdn. Bhd.
Muamalat Nominees Dormant 100 100 2 2
(Asing) Sdn. Bhd.
The companies above are audited by a firm of chartered accountants, KPMG PL T, Malaysia