Notes to the Consolidated Financial Statements
(Thousands of US dollars)
61
Dar Al-Maal Al-Islami Trust
Annual Report 2012
22. Collateralised
borrowings
23. Net trading income
24. Income from
investments in
financings
25. Fee and commission
income
Financial assets pledged to secure liabilities:
At 31 December 2012, there were collateralised borrowings in aggregate
$151.1 million (2011: $177.6 million).
Cash dividends amounting to $13.8 million (2011: $13.8 million) on certain
shares pledged as collateral was directly received by the lender during the year
and adjusted against the outstanding facility amount as per the agreed terms.
Assets, which are pledged as collateral, are conducted under terms that are
usual and customary to standard lending and securities borrowing and lending
activities.
2012
2011
Income from foreign exchange trading
7,401
9,853
Income from government securities
4,292
-
Gains/(losses) on trading securities
15,308
7,802
Gains from revaluation
8,733
6,751
35,734
24,406
Foreign exchange trading includes gains and losses from spot and forward
contracts translated from foreign currency assets and liabilities.
2012
2011
Income from investments in financings
239,677
259,093
Present value adjustment
(224)
-
Provision for bad and doubtful debts
(37,655)
(42,124)
Reversal of provision for bad and doubtful debts
24,826
36,246
226,624
253,215
2012
2011
Arrangement fees
697
2,493
Guarantee fees
1,563
1,773
Documentary credit fees
4,577
5,211
Structuring fees and commissions
5,735
425
Aircraft rental fees
-
12,135
Fees from associated companies (note 35)
-
350
Other fees from banking services
31,589
28,486
Fees and commissions expense
-
(3)
44,161
50,870
