4.7 AM ISLAMIC MALAYSIA BERHAD

AM Islamic Bank was incorporated in 2006. Its paid up capital comprise of 462,922,000 ordinary shares of RM1.00 each. It is a solutions provider in Islamic personal banking, business banking, investment banking, stockbroking, funds management and family takaful.

Its compliance level to MFRS and AAOIFI accounting standards are as follows:

Table 4.7: 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	44.4%
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 70% whereas SOPL 44.4% to AAOIFI. SOCIE is at 95% whereas SCF is at 100%. SSUCF and SORI are not either presented as financial statement or shown in the notes to financial statements.