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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Thousands of US dollars)
16. Intangible assets
60
Dar Al-Maal Al-Islami Trust
Annual Report 2011
Customer
Core
Goodwill
relations deposits
Other* Total
2011
Year ended 31 December
Opening net book amount
372,425 100,537 130,322 1,396 604,680
Additions
-
-
-
3,252 3,252
Foreign exchange
(724)
(4,973)
(81)
2,691 (3,087)
Amortisation
-
(7,858) (9,789)
(2,353) (20,000)
Closing net book amount
371,701 87,706 120,452 4,986 584,845
At 31 December
Cost
407,215 118,358 172,049 20,665 718,287
Accumulated amortisation
and impairment
(35,514) (30,652) (51,597) (15,679) (133,442)
Net book amount
371,701 87,706 120,452 4,986 584,845
2010
Year ended 31 December
Opening net book amount
67,186
1,552 26,620
502 95,860
Additions
258,824
8,120 5,680 2,077 274,701
Acquisition of a subsidiary
-
29,856
-
378 30,234
Disposal
-
-
-
(151)
(151)
Conversion of an associate
to a subsidiary
81,683 61,481 106,177 5,221 254,562
Foreign exchange
(268)
126 (377)
(227)
(746)
Amortisation
-
(598) (7,778)
(5,654) (14,030)
Impairment
(35,000)
-
-
(750) (35,750)
Closing net book amount
372,425 100,537 130,322 1,396 604,680
At 31 December
Cost
407,939 123,331 172,130 15,312 718,712
Accumulated amortisation
and impairment
(35,514) (22,794) (41,808) (13,916) (114,032)
Net book amount
372,425 100,537 130,322 1,396 604,680
* Other intangible assets included $5.5 million at 31 December 2011 (2010:
$1.4 million) of computer software related to core banking systems, which is
being amortised over five years.
Included in additions in customer relations in 2010 is an amount of $29.9
million due to an acquisition of a subsidiary in Pakistan (note 42).