Notes to the Consolidated Financial Statements
(Thousands of US dollars)
41
Dar Al-Maal Al-Islami Trust
Annual Report 2012
4. Financial instruments
(continued)
Derivative liabilities
The Group’s derivatives that will be settled on a net basis include over-the-
counter (OTC) currency options, currency futures, currency forwards and
exchange traded currency options. The table below analyses the Group’s
derivative financial instruments that will be settled on a net basis into relevant
maturity groupings based on the remaining period at the date of the consolidated
statement of financial position to the contractual maturity date. The amounts
disclosed in the table are the contractual undiscounted cash flows.
Up to
One-three Three-twelve One-five
Total
As at 31 December 2012
one month months
months
years
Derivatives held for trading:
- Foreign exchange derivatives
-
-
-
-
-
Derivatives held for hedging:
- Foreign exchange derivatives
-
-
-
-
-
As at 31 December 2011
Derivatives held for trading:
- Foreign exchange derivatives
- 14,594 17,854 74,030 106,477
Derivatives held for hedging:
- Foreign exchange derivatives
-
(337)
(39)
-
(376)
The Group’s derivatives that will be settled on a gross basis include foreign
exchange derivatives i.e. currency forward, currency swaps. The table below
analyses the Group’s derivative financial assets that will be settled on a gross
basis into relevant maturity groupings based on the remaining period at the date
of the consolidated statement of financial position to the contractual maturity date.
The amounts disclosed in the table are the contractual undiscounted cash flows.
Up to One-three Three-twelve One-five
Total
As at 31 December 2012
one month months
months
years
Derivatives held for trading:
- Foreign exchange derivatives
- Outflow
-
- (10,838) (120,646) (131,484)
- Inflow
-
-
19,372 117,158 136,531
Derivatives held for hedging:
- Foreign exchange derivatives
- Outflow
- (23,800)
-
- (23,800)
- Inflow
- (23,716)
-
-
23,716
Total outflow
- (23,800) (10,838) (120,646) (155,284)
Total inflow
- 23,716 19,372 117,158 160,246
As at 31 December 2011
Derivatives held for trading:
- Foreign exchange derivatives
- Outflow
-
9,578 32,427 179,433 221,438
- Inflow
- (11,169) (30,000) (200,000) (241,169)
