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Notes to the Consolidated Financial Statements
(Thousands of US dollars)
43
Dar Al-Maal Al-Islami Trust
Annual Report 2014
7. Investments in financings
2014
2013
Islamic investments in financings
2,386,444
2,251,223
Financings subject to finance leases
109,764
95,908
Provision for bad and doubtful debts
(318,919)
(260,504)
2,177,289
2,086,627
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 $110.8 million
(2013: $108.6 million).
Financings subject to finance leases
Investment in
Unearned future
Gross investment
finance leases
finance income
in finance leases
2014
receivable
on finance leases
Not later than one year
14,144
969
15,113
Later than one year and
not later than five years
84,579
9,879
94,458
Later than five years
124
69
193
98,847
10,917
109,764
2013
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
There was no allowance for uncollectible finance lease receivables included in
the provision for impairment at 31 December 2014 (2013: $Nil million).