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Notes to the Consolidated Financial Statements
(Thousands of US dollars)
67
Dar Al-Maal Al-Islami Trust
Annual Report 2014
23. Collateralised
borrowings
24. Net trading income
25. Income from
investments in
financings
26. Fee and commission
income
Financial assets pledged to secure liabilities:
At 31 December 2014, there were collateralised borrowings in aggregate of
$167.8 million (2013: $146.2 million).
Cash dividends amounting to $6.1 million (2013: $5.8 million) on certain
shares pledged as collateral was directly received by the lender during the year
and adjusted against the outstanding facility amount as per the agreed terms.
Assets, which are pledged as collateral, are conducted under terms that are
usual and customary to standard lending and securities borrowing and lending
activities.
2014
2013
Income from foreign exchange trading
9,863
8,621
Income from government securities
3,809
4,561
Gains/(losses) on trading securities
2,320
4,605
Gains from revaluation
2,774
2,129
18,766
19,916
Foreign exchange trading includes gains and losses from spot and forward
contracts translated from foreign currency assets and liabilities.
2014
2013
Income from investments in financings
224,758
210,571
Present value adjustment
(22,219)
(1,050)
Provision for bad and doubtful debts
(45,667)
(72,347)
Reversal of provision for bad
and doubtful debts
-
15,336
156,872
152,510
2014
2013
Arrangement fees
745
1,770
Guarantee fees
1,345
1,092
Documentary credit fees
2,716
2,611
Structuring fees and commissions
1,050
813
Other fees from banking services
32,080
31,185
Fees and commissions expense
-
(5)
37,936
37,466