Notes to the Consolidated Financial Statements
(Thousands of US dollars)
43
Dar Al-Maal Al-Islami Trust
Annual Report 2013
7. Investments in financings
2013
2012
Islamic investments in financings
2,251,223
2,296,722
Financings subject to finance leases
95,908
81,823
Provision for bad and doubtful debts
(260,504)
(231,679)
2,086,627
2,146,866
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 $108.6 million
(2012: $106.4 million).
Financings subject to finance leases
Investment in
Unearned future
Gross investment
finance leases
finance income
in finance leases
2013
receivable
on finance leases
Not later than one year
14,483
894
15,377
Later than one year and
not later than five years
71,115
8,255
79,370
Later than five years
786
375
1,161
86,384
9,524
95,908
2012
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
There was no allowance for uncollectible finance lease receivables included in
the provision for impairment at 31 December 2013 (2012: $Nil million).
