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Notes to the Consolidated Financial Statements
(Thousands of US dollars)
46
Dar Al-Maal Al-Islami Trust
Annual Report 2014
10. Investment securities
(continued)
The movement in investment securities available-for-sale is summarised as
follows:
2014
2013
At 1 January
1,162,397 1,040,135
Additions
1,752,750 1,636,134
Disposals
(1,646,654) (1,451,018)
Transfer from associated companies
5,156
-
Net gains/(losses) from changes
in fair value
25,462
(22,285)
Net gains/(losses) fair value
designated to income
(7,035)
-
Exchange differences
(8,019)
(32,424)
Reversal of impairment provision
4,658
1,949
Provision for impairment
(12,252)
(10,094)
At 31 December
1,276,463 1,162,397
The movement in investment securities held-to-maturity is summarised as
follows:
2014
2013
At 1 January
18,138
19,788
Additions
209,943
13,590
Matured
-
(2,233)
Provision for impairment
(1,222)
(11,773)
Exchange differences
2,293
(1,234)
229,152
18,138
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 2.