41. FINANCIAL RISK MANAGEMENT (CONTINUED) (d) Liquidity risk (continued) Contractual maturity of financial liabilities on an undiscounted basis (continued) Bank As at 31 December 2021 Up to 1 month RM’000 >1 to 3 months RM’000 >3 to 6 months RM’000 >6 to 12 months RM’000 Over 1 year RM’000 Total RM’000 Financial Liabilities Deposits from customers 32,567,363 10,079,216 7,855,452 6,427,787 614,697 57,544,515 Investment accounts of customers 8,019,903 1,432,649 796,052 341,948 8,287 10,598,839 Derivative financial liabilities 5,239 9,929 13,915 31,208 136,957 197,248 Forward contract 4,995 7,746 6,387 625 – 19,753 Islamic Profit Rate Swap 244 2,183 7,528 30,583 136,957 177,495 Bills and acceptance payable 20,112 – – – – 20,112 Recourse obligations on financing sold to Cagamas 7,120 14,240 21,359 42,719 2,050,345 2,135,783 Subordinated sukuk and capital securities – 7,479 33,843 41,810 2,593,902 2,677,034 Other liabilities 1,238,375 – – – 300,000 1,538,375 Lease liabilities 2,495 4,989 7,484 13,965 422,605 451,538 41,860,607 11,548,502 8,728,105 6,899,437 6,126,793 75,163,444 Commitments and Contingencies Financial guarantee contracts 205,501 144,324 132,935 365,503 974,646 1,822,909 205,501 144,324 132,935 365,503 974,646 1,822,909 (e) Operational Risk Overview Operational risk is defined as the risk of loss arising from inadequate or failed internal processes, people and systems and external events, which includes legal risk and Shariah compliance risk but excludes strategic and reputational risk. Management of operational risk The Group and the Bank recognises and emphasises the importance of operational risk management (“ORM”) and manages this risk through a control-based environment where processes are documented, authorisation is independent, transactions are reconciled and monitored and business activities are carried out within the established guidelines, procedures and limits. Notes to the financial statements for the financial year ended 31 December 2022 Integrated Report 2022 366
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