Notes to the Consolidated Financial Statements
(Thousands of US dollars)
46
Dar Al-Maal Al-Islami Trust
Annual Report 2013
10. Investment securities
(continued)
The movement in investment securities available-for-sale is summarised as
follows:
2013
2012
At 1 January
1,040,135 1,133,055
Additions
1,636,134 2,117,603
Disposals
(1,451,018) (2,247,041)
Net gains/(losses) from changes
in fair value
(22,285)
48,734
Exchange differences
(32,424)
(2,248)
Reversal of impairment provision
1,949
394
Provision for impairment
(10,094)
(10,362)
At 31 December
1,162,397 1,040,135
The movement in investment securities held-to-maturity is summarised as
follows:
2013
2012
At 1 January
19,788
69,736
Additions
13,590
2,140
Matured
(2,233)
(48,614)
Provision for impairment
(11,773)
(3,474)
Exchange differences
(1,234)
-
18,138
19,788
The carrying value of investment securities held-to-maturity approximates fair
value as calculated by discounting the future expected cash flows. On this
basis these investments would be classified as level 3.
