42. FINANCIAL RISK MANAGEMENT (CONTINUED) Overview (continued) (d) Liquidity risk (continued) Contractual maturity of financial liabilities on an undiscounted basis (continued) Bank As at 31 December 2023 Up to 1 month RM’000 >1 to 3 months RM’000 >3 to 6 months RM’000 >6 to 12 months RM’000 Over 1 year RM’000 Total RM’000 Financial Liabilities Deposits from customers 30,815,035 9,552,396 9,645,060 7,597,925 2,133,996 59,744,412 Investment accounts of customers 11,592,383 2,853,945 1,384,355 303,154 1,238,665 17,372,502 Deposits and placements of bank and other financial institutions – 353,323 – – – 353,323 Derivative financial liabilities 6,692 28,914 20,938 – – 56,544 Forward contract 6,686 28,914 20,938 – – 56,538 Islamic Profit Rate Swap 6 – – – – 6 Bills and acceptance payable 15,614 – – – – 15,614 Recourse obligations on financing sold to Cagamas 11,179 22,353 532,301 59,698 1,888,382 2,513,913 Subordinated sukuk and capital securities – 20,627 35,828 56,373 3,228,286 3,341,114 Other liabilities 1,907,439 – – – 368,570 2,276,009 Lease liabilities 2,627 5,254 7,881 14,582 365,631 395,975 44,350,969 12,836,812 11,626,363 8,031,732 9,223,530 86,069,406 Commitments and Contingencies Financial guarantee contracts 129,830 322,752 274,397 560,765 746,968 2,034,712 Financing commitment – – – – – – 129,830 322,752 274,397 560,765 746,968 2,034,712 (e) Non-Financial Risk Overview Non-Financial Risk (NFR) is defined as the risk of loss arising from inadequate or failed internal processes, people and systems and external events, which includes legal risk and Shariah non-compliance risk but excludes strategic and reputational risk. In BIMB, operational risk management has evolved to cover a broader spectrum of non-financial risks such as business continuity management, outsourcing risk, technology risk and cyber risk. Non-Financial risk governance The management of non-financial risk is principally carried out by using the Group NFR Framework, which comprises a suite of policies and guidelines designed to ensure NFRs are systematically identified, assessed, mitigated/controlled, monitored, and reported throughout the Group. The non-financial risk related policies and guidelines are approved by the MRCC, and/or BRC, guided by the Board-approved Risk Appetite Statement. The MRCC is responsible under the authority delegated by the BRC for managing non-financial risk at a strategic level. The ORCC is established as a sub-committee of the MRCC to assist the MRCC in ensuring effective implementation of the non-financial risk management across the Group. 413 w w w . b a n k i s l a m. c o m 01 02 03 04 05 06 07 08 FINANCIAL STATEMENTS 09
RkJQdWJsaXNoZXIy NDgzMzc=