DIRECTORS’ BENEFITS Since the end of the previous financial year, no Director of the Bank has received nor become entitled to receive any benefit (other than those fees and other benefits included in the aggregate amount of remuneration received or due and receivable by Directors as shown in the Note 32 to financial statements or the fixed salary of a full time employee of the Bank) by reason of a contract made by the Bank or a related corporation with the Director or with a firm of which the Director is a member, or with a firm in which the Director has a substantial financial interest. There were no arrangements during and at the end of the financial year which had the object of enabling Directors of the Bank to acquire benefits by means of the acquisition of shares in or debentures of the Bank or any other body corporate. DIRECTORS’ INTERESTS IN SHARES AND DEBENTURES According to the Register of Directors’ Shareholdings required to be kept under Section 59 of the Companies Act 2016, none of the Directors who held office at the end of the financial year held any shares or debentures in the Company or its subsidiaries during the financial year. ISSUE OF SHARES AND DEBENTURES During the financial year, the Bank has issued 42,966,054 new ordinary shares at a consideration of RM3.25 each arising from the Dividend Reinvestment Plan. As disclosed in Note 46 to the financial statements, the Bank has completed a consolidation of its ordinary shares into 2,075,872,514 Bank Islam shares to match BHB’s outstanding shares in issue so that the distribution of the Bank shares will be on a one-for-one basis. There were no debentures issued during the financial year. OPTIONS GRANTED OVER UNISSUED SHARES No options were granted to any person to take up unissued shares of the Bank during the financial year. INDEMNITY AND TAKAFUL COSTS During the financial year, the Bank maintained on group basis, a Directors’ and Officers’ Liability Takaful of up to an aggregate limit of RM50 million against any legal liability incurred by the Directors and Officers in the discharge of their duties while holding the office. The Directors and Officers shall not be indemnified by such takaful for any deliberate negligence, fraud, intentional breach of law or breach of trust proven against them. The amount of premium paid was RM207,575 with certain reimbursement made by the Directors and Officers. In previous financial year, through the former immediate holding company, BIMB Holdings Berhad has maintained a Directors’ and Officers’ Liability Takaful for the Directors and Officers of BIMB Holdings and its subsidiaries (excluding Syarikat Takaful Malaysia Keluarga Berhad and its subsidiaries) of up to an aggregate limit of RM50 million against any legal liability incurred by the Directors and Officers in the discharge of their duties while holding the office. The Directors and Officers shall not be indemnified by such takaful for any deliberate negligence, fraud, intentional breach of law or breach of trust proven against them. The amount of premium paid was RM231,372 with certain reimbursement made by the Directors and Officers. BANK I SLAM MALAYS IA BERHAD 214 DIRECTORS’ REPORT for the financial year ended 31 December 2021
RkJQdWJsaXNoZXIy NDgzMzc=