43. FAIR VALUE OF FINANCIAL INSTRUMENTS (CONTINUED) Fair value hierarchy (continued) Bank 31 December 2023 RM’000 Fair value of financial instruments carried at fair value Fair value of financial instruments not carried at fair value Level 3 Total fair value Carrying amount Level 1 Level 2 Level 3 Total Financial assets Financial assets at FVTPL – 914,246 – 914,246 – 914,246 914,246 Derivative financial assets – 68,412 – 68,412 – 68,412 68,412 Financial assets at FVOCI 6,317 12,430,426 84,824 12,521,567 – 12,521,567 12,521,567 Financial assets at AC – – – – 3,107,799 3,107,799 3,120,230 Financing, advances and others – – – – 70,406,543 70,406,543 66,817,115 Financial liabilities Derivative financial liabilities – 56,548 – 56,548 – 56,548 56,548 Recourse obligations on financing sold to Cagamas – – – – 2,029,840 2,029,840 2,004,329 Subordinated sukuk and capital securities – – – – 2,306,829 2,306,829 2,323,540 Unobservable inputs used in measuring fair value The following tables show the valuation techniques used in the determination of fair values within Level 3, as well as the key unobservable inputs used in the valuation models. (a) Financial instruments carried at fair value Type Valuation technique Significant unobservable inputs Inter-relationship between significant unobservable inputs and fair value measurement Financial assets measured at FVOCI Adjusted net tangible assets Adjusted net tangible assets Higher adjusted net tangible assets results in higher fair value Bank Islam Malaysia Berhad ◆ Integrated Annual Report 2024 418 Notes to the Financial Statements for the financial year ended 31 December 2024
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