26. Dividend income
27. Other income
28. Staff costs
29. General and
administrative expenses
30. Proposed dividend
31. Taxes
62
Dar Al-Maal Al-Islami Trust
Annual Report 2012
Notes to the Consolidated Financial Statements
(Thousands of US dollars)
2012
2011
Investment securities held to maturity
3,392
2,050
Investment securities available-for-sale
9,767
7,655
13,159
9,705
Investment securities dividend income represents a mixture of dividend and
profit rate income.
2012
2011
Impairment provision
(7,267)
-
Fair value gain/(loss) on investment properties
14
(4,514)
Rental income from investment properties
3,375
3,436
Loss on sale of investment properties
(707)
-
Other
3,502
4,714
(1,083)
3,636
2012
2011
Restated
Salaries
88,017
77,212
Social security and other statutory costs
3,584
3,883
Pension and end of service
8,681
10,643
Other benefits
13,201
18,678
113,483
110,416
Other benefits include housing allowance, home leave, relocation expense,
medical and health expense, training, severance costs and end of service
benefit costs.
2012
2011
Office expenses
51,806
55,084
Professional fees
15,068
17,534
Other
19,581
18,083
86,455
90,701
No dividend has been proposed for 2012 (2011: Nil).
2012
2011
Current taxes
2,408
8,581
Gain on deferred taxes
(1,149)
(8,411)
1,259
170
The expected income tax expense for the Group is an aggregate of individual
amounts representing the mix of profits and losses and the applicable tax rates
in each jurisdiction. Consequently, the effective tax rate on consolidated income
may vary from year to year, according to the source of earnings. Most affiliates
of the Group operate in tax free jurisdictions.
