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Notes to the Consolidated Financial Statements
(Thousands of US dollars)
65
Dar Al-Maal Al-Islami Trust
Annual Report 2014
19. Accounts payable
20. Tax liability
2014
2013
Accounts payable and other provisions
76,404
51,855
Advance received from customers
15,353
8,113
Demand drafts
53,132
47,248
Accruals
22,727
24,333
Security deposits on consumer leases
36,420
32,063
Funds under management
571,319
729,788
Dividends payable
14,573
15,214
Derivative financial instruments
91
103
Employee payables
22,070
27,520
Deferred income
1,184
1,602
813,273
937,839
There were no liabilities against assets subject to finance leases at 31 December
2014 (2013 $Nil million).
Derivative financial instruments
Foreign exchange derivatives held for trading:
2014
Contractual amount
Fair value
Equity futures
8,800
91
2013
Currency forwards
10,800
103
2014
2013
Current tax (receivable)/payable
At 1 January
(30,594)
(14,390)
Charge for the period
9,874
(4,346)
Payments made
(11,006)
(12,717)
Refund
(111)
28
Exchange differences
(3,992)
831
At 31 December
(35,829)
(30,594)
Deferred tax (asset)/liability
At 1 January
(39,071)
(46,560)
Charge for the period
19
8,144
Changes due to fair value reserve
8,757
(3,931)
Refund
-
-
Exchange differences
166
3,276
At 31 December
(30,129)
(39,071)