Basic HTML Version
39. ISLAMIC BUSINESS FUND (CONT’D)
Statement of income for the year ended 31 December 2013
Group and Bank
Note
2013
2012
Islamic
Islamic
business
Takaful
business
Takaful
fund
fund
Total
fund
fund
Total
RM’000
RM’000
RM’000
RM’000
RM’000
RM’000
Income derived from Islamic banking fund
(f)
62,791
–
62,791
25,480
–
25,480
Financing cost
(6,019)
–
(6,019)
(4,607)
–
(4,607)
Net income from Islamic banking fund
56,772
–
56,772
20,873
–
20,873
Gross premium contribution
–
3,189
3,189
–
1,282
1,282
Wakalah fee
1,080
(1,080)
–
449
(449)
–
Reinsurance outward
–
(60)
(60)
–
–
–
Increase in premium/contribution liability
–
(1,013)
(1,013)
–
(1,405)
(1,405)
Increase in claim liability
–
(2,495)
(2,495)
–
(361)
(361)
Increase in expenses liability
(130)
–
(130)
–
–
–
Takaful fees
138
(27)
111
42
–
42
Income from Takaful activities
1,088
(1,486)
(398)
491
(933)
(442)
Islamic banking fund and Takaful fund results
57,860
(1,486)
56,374
21,364
(933)
20,431
Other Income
14,556
–
14,556
(182)
–
(182)
Net Income from Islamic business
72,416
(1,486)
70,930
21,182
(933)
20,249
Administrative expenses
(579)
–
(579)
(208)
–
(208)
Allowances for losses on advances
and financing
(g)
(36,673)
–
(36,673)
(26,372)
–
(26,372)
Profit/(loss) for the year before
taxation and zakat
35,164
(1,486)
33,678
(5,398)
(933)
(6,331)
Zakat
(695)
–
(695)
(429)
–
(429)
Net profit/(loss)
34,469
(1,486)
32,983
(5,827)
(933)
(6,760)
EXIM Bank Annual Report 2013
189