Notes to the Consolidated Financial Statements
(Thousands of US dollars)
63
Dar Al-Maal Al-Islami Trust
Annual Report 2013
26. Dividend income
27. Gains/(losses)
from other income
28. Staff costs
29. General and
administrative expenses
30. Proposed dividend
31. Taxes
2013
2012
Investment securities held to maturity
3,865
3,392
Investment securities available-for-sale
7,383
9,767
11,248
13,159
Investment securities dividend income represents a mixture of dividend and
profit rate income.
2013
2012
Impairment provision
-
(7,267)
Fair value gain/(loss) on investment properties
(2,591)
14
Rental income from investment properties
3,807
3,375
Loss on sale of investment properties
-
(707)
Other
4,250
3,502
5,466
(1,083)
2013
2012
Salaries
84,613
88,017
Social security and other statutory costs
3,800
3,584
Pension and end of service
2,573
8,681
Other benefits
15,348
13,201
106,334
113,483
Other benefits include housing allowance, home leave, relocation expense,
medical and health expense, training, severance costs and end of service
benefit costs.
2013
2012
Office expenses
52,438
51,806
Professional fees
14,241
15,068
Other
19,902
19,581
86,581
86,455
No dividend has been proposed for 2013 (2012: $Nil).
2013
2012
Current taxes
(4,346)
2,408
Loss/(gain) on deferred taxes
8,144
(1,149)
3,798
1,259
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.
