Notes to the Consolidated Financial Statements
(Thousands of US dollars)
59
Dar Al-Maal Al-Islami Trust
Annual Report 2012
18. Accounts payable
19. Tax liability
2012
2011
Restated
Accounts payable and other provisions
61,343
65,049
Advance received from customers
27,803
27,596
Demand drafts
43,731
34,216
Accruals
22,717
21,964
Security deposits on consumer leases
25,247
26,507
Funds under management
565,907
518,134
Dividends payable
15,597
16,673
Derivative financial instruments
84
38,887
Employee payables
24,485
26,265
Deferred income
385
361
787,299
775,652
There were no liabilities against assets subject to finance leases at 31 December
2012 (2011: $Nil).
Derivative financial instruments
Foreign exchange derivatives held for trading:
2012
Contractual amount
Fair value
Currency forwards
23,800
84
2011
Currency forwards
467,194
38,887
2012
2011
Current tax (receivable)/payable
At 1 January
(12,084)
(7,874)
Charge for the period
2,408
8,581
Adjustment
-
104
Payments made
(6,269)
(13,663)
Refund
127
-
Exchange differences
1,428
768
At 31 December
(14,390)
(12,084)
Deferred tax (asset)/liability
At 1 January
(56,019)
(48,486)
Charge for the period
(1,149)
(8,411)
Changes due to fair value reserve
5,903
(1,995)
Adjustment
-
-
Refund
-
-
Exchange differences
4,705
2,873
At 31 December
(46,560)
(56,019)
