Page 272 - Bank Muamalat_AR24

270 BANK MUAMALAT MALAYSIA BERHAD

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

21. OTHER LIABILITIES (CONT’D.)

(a) Movements in the allowances for impairment losses on financing commitments and financial guarantee contracts
are as follows:

Lifetime ECL Lifetime
not credit ECL credit
12 Months ECL impaired impaired
Stage 1 Stage 2 Stage 3 Total ECL
Group and Bank RM’000 RM’000 RM’000 RM’000

2024
At 1 January 2024 8,121 410 1,700 10,231
Transfer to Stage 1 57 (7) (50) -
Transfer to Stage 2 (196) 231 (35) -
Transfer to Stage 3 (579) (16) 595 -
New financial assets originated 4,589 - - 4,589
Financing commitment derecognised (3,294) (94) (441) (3,829)
Changes in credit risk (1,489) 204 1,064 (221)
Amount written off - - (1,182) (1,182)
At 31 December 2024 7,209 728 1,651 9,588

2023
At 1 January 2023 8,165 118 1,385 9,668
Transfer to Stage 1 2,125 (2,081) (44) -
Transfer to Stage 2 (599) 915 (316) -
Transfer to Stage 3 (1) (71) 72 -
Allowance (written-back)/made (4,123) 1,444 1,710 (969)
New financial assets originated or purchased 5,685 274 - 5,959
Financing derecognised (3,134) (196) (306) (3,636)
Amount written-off - - (801) (801)
Other movements 3 7 - 10

At 31 December 2023 8,121 410 1,700 10,231

(b) Amount due to subsidiaries is unsecured and repayable on demand.

22. PROVISION FOR ZAKAT AND TAXATION

Group Bank
2024 2023 2024 2023
RM’000 RM’000 RM’000 RM’000

Zakat 8,924 10,618 8,661 10,320
Taxation 5 29 - -
8,929 10,647 8,661 10,320