42 / 87
Notes to the Consolidated Financial Statements
(Thousands of US dollars)
40
Dar Al-Maal Al-Islami Trust
Annual Report 2014
4. Financial instruments
(continued)
Assets held for managing
liquidity risk
The Group holds a diversified portfolio
of cash and high-quality high-
liquid securities to support payment
obligations and contingent funding in
a stressed market environment. The
Group’s assets held for managing
liquidity risk comprise:
•
Cash and balances with
central banks;
•
Certificates of deposit;
•
Government bonds and other
securities that are readily
acceptable in repurchase
agreements with central
banks; and
•
Secondary sources of
liquidity in the form of highly
liquid instruments in the
Group’s trading portfolios
and investment securities
available-for-sale.
The table below presents the cash flows payable by the Group under off-balance
sheet liabilities.
No later than
One-five
Over five
Total
one year
years
years
At 31 December 2014
Acceptances and endorsements 86,871
17,039
-
103,910
Guarantees and irrevocable
letters of credit
530,089 204,232
-
734,321
Performance bid bonds
25,045
1,078
-
26,123
Other contingent liabilities
-
432,257
15,727 447,984
Undrawn facilities and other
commitments to finance
1,048,691
-
17,167 1,065,858
Operating lease commitments
-
-
109
109
Open foreign currency positions 1,056,364
-
- 1,056,364
Repurchased and resale
transactions
398,570
-
-
398,570
Total off-balance sheet liabilities 3,145,630 654,606
33,003 3,833,239
At 31 December 2013
Acceptances and endorsements 125,327
-
-
125,327
Guarantees and irrevocable
letters of credit
375,843
40,008 168,394 584,245
Performance bid bonds
24,074
1,618
541
26,233
Other contingent liabilities
-
412,030
18,098 430,128
Undrawn facilities and other
commitments to finance
905,931
2,723
17,168 925,822
Operating lease commitments
-
187
-
187
Open foreign currency positions 927,742
-
-
927,742
Repurchased and resale
transactions
-
224,634
-
224,634
Total off-balance sheet liabilities 2,358,917 681,200 204,201 3,244,318