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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Thousands of US dollars)
11. Fair value of financial
instruments
49
Dar Al-Maal Al-Islami Trust
Annual Report 2011
a) Financial instruments measured at fair value
The fair values of quoted investments in active markets are based on current bid
prices. If there is no active market for a financial asset, the Group establishes
fair value using valuation techniques. These include the use of recent arm’s
length transactions, discounted cash flow analysis, option pricing models and
other valuation techniques commonly used by market participants. There was
no change in valuation technique used to fair value financial instruments
(2010: $Nil).
b) Financial instrument not measured at fair value
The table below summarises the carrying amounts and fair values of those
financial assets and liabilities not presented on the Group’s consolidated
statement of financial position at their fair value.
Carrying amount
Fair value
2011
2010
2011
2010
Financial assets
Investments in financings
Corporate financing
- 1,361,170
- 1,198,833
Bank and other
financial institutions
-
5,857
-
3,340
Agricultural financing
-
63,697
-
61,157
Consumer financing
- 241,765
- 205,353
Government/public
financing
- 115,708
- 115,708
Other financing
-
2,348
-
2,299
Investment securities
-
1,648
-
1,648
Financial liabilities
Customer investment
accounts
Private individuals
- 892,572
- 883,646
Financial institutions
-
57,019
-
56,449
Corporate institutions
- 915,932
- 906,772