DMIT Annual Report 2017

PricewaterhouseCoopers (Dubai Branch), License no. 102451 Emaar Square, Building 4, Level 8, P O Box 11987, Dubai - United Arab Emirates T: +971 (0)4 304 3100 , F: +971 (0)4 346 9150 , www.pwc.com/me Douglas O’Mahony, Paul Suddaby, Jacques Fakhoury and Mohamed ElBorno are registered as practising auditors with the UAE Ministry of Economy Dar Al-Maal Al-Islami Trust 12 R EPORT OF THE A UDITOR To the Bearers and Owners of Equity Participations of Dar Al-Maal Al-Islami Trust Independent auditor’s report to the Bearers and Owners of Equity Participations of Dar Al-Maal Al-Islami Trust Report on the audit of the consolidated financial statements Our opinion In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of Dar Al-Maal Al-Islami Trust (the “Parent Company”) and its subsidiaries (together referred to as “the Group”) as at 31 December 2017 and their consolidated financial performance and their consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards. What we have audited The Group’s consolidated financial statements comprise:  the consolidated statement of financial position as at 31 December 2017;  the consolidated statement of income for the year then ended;  the consolidated statement of comprehensive income for the year then ended;  the consolidated statement of changes in equity for the year then ended;  the consolidated statement of cash flows for the year then ended; and  the notes to the consolidated financial statements, which include a summary of significant accounting policies. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the consolidated Financial Statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence We are independent of the Group in accordance with the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (IESBA Code) and the ethical requirements that are relevant to our audit of the consolidated financial statements in the United Arab Emirates. We have fulfilled our other ethical responsibilities in accordance with the IESBA code.