Notes to the Consolidated Financial Statements
(Thousands of US dollars)
43
Dar Al-Maal Al-Islami Trust
Annual Report 2012
7. Investments in financings
2012
2011
Islamic investments in financings
2,296,722
2,144,841
Financings subject to finance leases
81,823
79,804
Provision for bad and doubtful debts
(231,679)
(235,382)
2,146,866
1,989,263
Islamic investments in financings largely comprise conventional loans and
advances made by a subsidiary of the Group and a loan on a profit
sharing basis to a trust outside the Group in the amount of $106.4 million
(2011: $104.3 million).
Financings subject to finance leases
Investment in
Unearned future
Gross investment
finance leases
finance income
in finance leases
2012
receivable
on finance leases
Not later than one year
23,421
2,469
25,890
Later than one year and
not later than five years
49,216
6,717
55,933
72,637
9,186
81,823
2011
Not later than one year
25,236
9,844
35,080
Later than one year and
not later than five years
28,210
16,514
44,724
53,446
26,358
79,804
The allowance for uncollectible finance lease receivables included in the
provision for impairment amounted to $Nil million at 31 December 2012
(2011: $Nil million).
