Notes to the Consolidated Financial Statements
(Thousands of US dollars)
67
Dar Al-Maal Al-Islami Trust
Annual Report 2012
35. Related party
transactions and
balances
(continued)
b) Loans to employees
All employees of the Group are entitled to receive employee loans on favourable
terms not equivalent to those of transactions made on an arm’s length
basis. Included in accounts receivable are amounts due from employees at
31 December 2012 of $31.0 million (2011: $35.7 million).
During the year a real estate asset was sold to an employee for an amount of
$0.6 million, what was considered to be an arm’s length transaction.
c) Current and investment accounts
Associated companies
Period ended
2012
2011
Amounts payable to:
Faisal Islamic Bank of Egypt
20,000
20,000
Revenue on current
and investment accounts:
Solidarity Group Holding B.S.C.
-
350
d) Key management compensation
2012
2011
Salaries and other short-term benefits
18,607
18,313
Post-employment benefits
861
715
Other long-term benefits
163
515
19,631
19,543
