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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Thousands of US dollars)
4. Financial instruments
(continued)
42
Dar Al-Maal Al-Islami Trust
Annual Report 2011
Assets held for managing
liquidity risk
The Group holds a diversified
portfolio of cash and high-quality
high-liquid securities to support
payment obligations and contingent
funding in a stressed market
environment. The Group’s assets
held for managing liquidity risk
comprise:
•
Cash and balances
with central banks;
•
Certificates of deposit;
•
Government bonds
and other securities that
are readily acceptable
in repurchase agreements
with central banks; and
•
Secondary sources
of liquidity in the
form of highly liquid
instruments in the Group’s
trading portfolios and
investment securities
available-for-sale.
The table below presents the cash flows payable by the Group under off-balance
sheet liabilities.
No later than
One-five
Over five
Total
one year
years
years
As at 31 December 2011
Acceptances and endorsements 54,509
55,358
-
109,867
Guarantees and irrevocable
letters of credit
451,414
27,408
12,353 491,175
Performance bid bonds
18,093
-
-
18,093
Other contingent liabilities
-
399,755
14,184 413,939
Undrawn facilities and other
commitments to finance
7,186 693,228
36,402 736,816
Operating lease commitments
-
-
46
46
Open foreign currency positions 773,098
-
-
773,098
Repurchased and resale
transactions
244,170
-
-
244,170
Total off-balance sheet liabilities 1,548,470 1,175,749
62,985 2,787,204
As at 31 December 2010
Acceptances and endorsements 31,964
-
-
31,964
Guarantees and irrevocable
letters of credit
497,206
68,257
1,257 566,720
Performance bid bonds
20,064
3,927
-
23,991
Other contingent liabilities
294
-
102,740 103,034
Undrawn facilities and other
commitments to finance
1,006,306
-
36,402 1,042,708
Operating lease commitments
91
46
-
137
Open foreign currency positions 30,520
-
58,036
88,556
Repurchased and resale
transactions
129,837
-
-
129,837
Total off-balance sheet liabilities 1,716,282
72,230 198,435 1,986,947