Its operations in Malaysia was established in 2006. As of 2015 it has a paid up
capital of RM1,000,000,000 in Ordinary shares. It has 24 branches throughout
Malaysia and it services range from personal, business as well as affluence.
In
term of financial reporting, it adopts fully the requirements made by Malaysian
Financial Reporting Standards (MFRS) and adheres the AAOIFI at the following
levels:
Table
4.16: 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
|
75.0%
|
|
4.
|
Statement of profit or
loss
|
38.9%
|
|
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
|
The
bank complies with MFRS and also conforms to AAOIFI in presentation of SOFP
(75%), SOPL (38.5%), SOCIE (95%) and SCF (100%). It does not either present
SSUCF and SORI as financial statement or show in notes to financial statement.
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