Basic HTML Version
10
Dar Al-Maal Al-Islami Trust
Annual Report 2011
Page
Independent auditors’ report
11
Consolidated statement
of financial position
12
Consolidated statement
of income
13
Consolidated statement
of comprehensive income
14
Consolidated Statement
of changes in Equity
15
Consolidated Statement
of Cash Flows
16
Notes to the Consolidated Financial
Statements
1. Formation and activities
18
2. Accounting policies
18
Basis of preparation
18
Impact of new accounting
pronouncements
New and amended
standards adopted
18
New and amended standards
and interpretations
19
Consolidation
20
Foreign currency
translation
21
Derivative financial
instruments and hedging 22
Income from investments with
Islamic institutions and
investments in financings 22
Fee and commission
income
22
Distribution to Massaref
account holders
22
Sale and repurchase
agreements
22
Financial assets
23
Impairment of financial
assets
24
Impairment of non financial
assets
25
Investments with Islamic
institutions
25
Intangible assets
25
Investment property
25
Property, plant and
equipment
and depreciation
26
Leases
26
Provisions
26
Non-current asset held
for sale
26
Page
Discontinued operations
27
Due to banks and financial
institutions
27
Borrowings
27
Retirement benefit plans
27
Taxation
27
Deferred income taxes
27
Trust capital and treasury
stock
28
Acceptances
28
Cash and cash equivalents 28
Fiduciary activities
28
3. Critical accounting
estimates and judgements
in applying accounting
policies
28
Impairment of investments
in financings
28
Fair value and impairment
of available-for-sale
equity investments
28
Fair value of investment
properties
29
Special purpose entities
29
Income taxes
29
Impairment of associated
companies
29
Estimated impairment
of goodwill
30
Pension obligation
30
4. Financial instruments
31
Strategy in using
financial instruments
31
Capital management
32
Financial risk
management
32
Credit risk
32
Market risk
36
Liquidity risk
40
5. Cash and cash
equivalents
44
6. Trading securities
44
7. Investments in financings
44
8. Collateral received and
re-pledged
46
9. Allowance account
from credit losses
46
10. Investment securities
47
Page
11. Fair value of financial
instruments
49
12. Accounts receivable
53
13. Investment property
53
14. Investments in associates
54
15. Property, plant and
equipment
59
16. Intangible assets
60
17. Non-current assets and
liabilities and
discontinued operations
61
18. Accounts payable
62
19. Tax liability
63
20. Massaref accounts
63
21. Provisions
64
22. Collateralised borrowings
64
23. Net trading income
64
24. Income from investments
in financings
64
25. Fee and commission
income
65
26. Dividend income
65
27. Other income
65
28. Staff costs
65
29. General and administrative
expenses
65
30. Proposed dividend
65
31. Taxes
66
32. Non-controlling interests
66
33. Funds under management
67
34. Retirement benefit plans
67
35. Related party transactions
and balances
69
36. Contingent liabilities
and commitments
71
37. Current and non current
assets and liabilities
73
38. Concentration of
assets and liabilities
74
39. Maturities of assets and
liabilities
76
40. Currency exposure
77
41. Trust capital
78
42. Acquisitions and disposals 78
43. Date of authorization
for issue
83
44. Principal subsidiaries
83
INDEX TO THE CONSOLIDATED FINANCIAL STATEMENTS