Wednesday, August 23, 2017

4.4 CIMB ISLAMIC BANK MALAYSIA BERHAD

CIMB Islamic was founded in 2003 (website). It has a paid up ordinary share capital of RM1,000,000,000 as of 2015. provides Islamic banking and financial products and services for commercial, corporate, and institutional customers in Malaysia, Indonesia, Singapore, the United States, the United Kingdom, and internationally.  The company offers various personal banking products and services, including savings and current accounts, and term deposit accounts; credit cards; properties financing, personal financing, and car financing; investment products; and retirement and takaful services.
It complies with MFRS and also conforms to AAOIFI in presentation of SOFP (70%), SOPL (55.6%), SOCIE (95%) and SCF (100%). It does not present SSUCF and SORI as financial statement. However, it shows them in the notes to financial statement. (Financial statement 2005).

Table 4.4: 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
70.0%
4.
Statement of profit or loss
55.6%
5.
Statement of changes in equity
95%
6.
Statement of cash flow
100%
7.
Statement of sources and uses of charity fund
Yes (notes)
8.
Statement of restricted investment
Yes (notes)

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