18. DEPOSITS AND PLACEMENTS OF BANKS AND OTHER FINANCIAL INSTITUTION Group and Bank 2022 RM’000 2021 RM’000 Licensed investment bank 50,048 – Development financial institution 20,020 – 70,068 – 19. RECOURSE OBLIGATIONS ON FINANCING SOLD TO CAGAMAS Recourse obligations on financing sold to Cagamas represents house financing accounts that are sold to Cagamas with recourse. Under the agreement, the Bank undertakes to administer the financing on behalf of Cagamas and to buy back any financing which are regarded as defective based on pre-determined and agreed- upon prudential criteria with recourse against the Bank. Such financing transactions and the obligation to buy back the financing are reflected as a liability on the statements of financial position. The financing are not de- recognised and are analysed in Note 8. The details are as follows: Note Nominal value RM’000 Issue date Maturity Date Profit rate (% p.a.) (a) 1,500,000 25 May 2018 25 May 2023 4.75 (b) 500,000 15 May 2021 15 May 2024 2.95 (c) 1,000,000 4 November 2022 4 November 2027 4.83 20. SUBORDINATED SUKUK AND CAPITAL SECURITIES Group and Bank Subordinated sukuk Note 2022 RM’000 2021 RM’000 Issued under the RM1.0 billion Programme Third tranche (a) – 301,962 Issued under the RM10.0 billion Programme First tranche (b) 302,328 302,286 Second tranche (c) 403,986 403,945 Third tranche (d) 704,971 704,971 Fourth tranche (e) 301,618 301,685 1,712,903 1,712,887 1,712,903 2,014,849 Capital securities (f) 509,189 – 2,222,092 2,014,849 Finance cost on subordinated sukuk and capital securities 90,375 72,575 Financial Statements 307 01 05 03 07 02 06 09 04 08 Bank Islam Malaysia Berhad
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