Notes to the Consolidated Financial Statements
(Thousands of US dollars)
40
Dar Al-Maal Al-Islami Trust
Annual Report 2012
4. Financial instruments
(continued)
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 2012
Acceptances and endorsements 119,952
-
-
119,952
Guarantees and irrevocable
letters of credit
347,094 260,246
268 607,608
Performance bid bonds
30,700
2,310
-
33,010
Other contingent liabilities
1,021 374,204
14,546 389,771
Undrawn facilities and other
commitments to finance
738,115
-
17,168 755,283
Operating lease commitments
-
-
225
225
Open foreign currency positions 734,286
-
-
734,286
Repurchased and resale
transactions
171,506
-
-
171,506
Total off-balance sheet liabilities 2,142,674 636,760
32,207 2,811,641
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
