Notes to the Consolidated Financial Statements
(Thousands of US dollars)
62
Dar Al-Maal Al-Islami Trust
Annual Report 2013
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 2013, there were collateralised borrowings in aggregate
$146.2 million (2012: $151.1 million).
Cash dividends amounting to $5.8 million (2012: $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.
2013
2012
Income from foreign exchange trading
8,621
7,401
Income from government securities
4,561
4,292
Gains/(losses) on trading securities
4,605
15,308
Gains from revaluation
2,129
8,733
19,916
35,734
Foreign exchange trading includes gains and losses from spot and forward
contracts translated from foreign currency assets and liabilities.
2013
2012
Income from investments in financings
210,571
239,677
Present value adjustment
(1,050)
(224)
Provision for bad and doubtful debts
(72,347)
(37,655)
Reversal of provision for bad
and doubtful debts
15,336
24,826
152,510
226,624
2013
2012
Arrangement fees
1,770
697
Guarantee fees
1,092
1,563
Documentary credit fees
2,611
4,577
Structuring fees and commissions
813
5,735
Other fees from banking services
31,185
31,589
Fees and commissions expense
(5)
-
37,466
44,161
