Standard Chartered Saadiq was established in
November 2008 with a paid up capital of RM 102,750,000
balance in 2015. The Bank provides a comprehensive range
of financial products and services to individuals and corporates.
Table
4.12: Level of compliance to MFRS and AAOIFI standards
|
No.
|
Financial statement
|
Conformity
|
|
1.
|
Statement on adoption
of AAOIFI
|
Nil
|
|
2.
|
Statement on adoption
of MFRS
|
100%
|
|
3.
|
Statement of financial
position
|
60.0%
|
|
4.
|
Statement of profit or
loss
|
39.5%
|
|
5.
|
Statement of changes in
equity
|
95%
|
|
6.
|
Statement of cash flow
|
100%
|
|
7.
|
Statement of sources and uses of charity fund
|
No
|
|
8.
|
Statement of restricted
investment
|
No
|
In term of
financial reporting, it adopts fully the requirements made by Malaysian
Financial Reporting Standards (MFRS) and adheres the requirements of AAOIFI at certain
levels. Its SOFP complies 60% whereas SOPL 39.5% to AAOIFI. SOCIE is at 95%
whereas SCF is at 100%. SSUCF and SORI are not presented as financial statement
or shown in the notes to financial statements.
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