Transcription of SECTION A 1 SECTION B 3 SECTION C 13 SECTION …
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SECTION A 1 SECTION B 3 SECTION C 13 SECTION …
BNM/RH/GL 007-17 Prudential Financial Policy Classification and Impairment Department Provisions for Loans/Financing Islamic banking and Takaful Department SECTION A .. 1. 1. Introduction .. 1. 2. Applicability .. 1. 3. Legal 2. 4. Effective 2. SECTION B .. 3. 5. Compliance with Accounting 3. 6. Board and Senior Management Oversight .. 3. 7. Credit Risk Grading .. 5. 8. Rescheduled and Restructured Loans/Financing .. 7. 9. Sound Loan/Financing Impairment 8. 10. Use of Experienced Credit Judgment .. 10. SECTION C .. 13. 11. Classification of Loans/Financing as Impaired .. 13. 12. Transitional Provisions .. 14. SECTION D .. 18. 13. Circulars and Guidelines 18. APPENDIX. BNM/RH/GL 007-17 Prudential Financial Policy Classification and Impairment Page Department Provisions for 1/22. Islamic banking and Takaful Loans/Financing Department SECTION A. 1. Introduction The Guidelines set out the minimum requirements on the classification of impaired loans/financing and provisioning for loan/financing impairment with the adoption of FRS 139 Financial Instruments: Recognition and Measurement issued by the Malaysian Accounting Standards Board.
The Guidelines shall be read together with the Best Practices for the Management of Credit Risk issued by Bank Negara Malaysia that are relevant to classification and provisioning practices. In particular, banking institutions shall refer to the best
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