DMIT Annual Report 2017

N OTES TO THE C ONSOLIDATED F INANCIAL S TATEMENTS (Thousands of US dollars) Dar Al-Maal Al-Islami Trust 45 4. Financial instruments (continued) The table below presents the expected cash outflow by the Group under off-balance sheet liabilities. At 31 December 2017 No later than one year One-five years Over five years Total Acceptances and endorsements 62,824 - - 62,824 Guarantees and irrevocable letters of credit 602,494 218,067 146 820,707 Performance bid bonds 53,660 940 - 54,600 Other contingent liabilities 2,182 309,222 15,774 327,178 Undrawn facilities and other commitments to finance 1,115,215 - 17,168 1,132,383 Open foreign currency positions 422,253 24,520 15,811 462,584 Repurchased and resale transactions 297,331 - - 297,331 Total off-balance sheet liabilities 2,555,963 552,765 48,899 3,157,627 At 31 December 2016 Acceptances and endorsements 72,669 - - 72,669 Guarantees and irrevocable letters of credit 495,561 213,955 146 709,662 Performance bid bonds 32,803 8,798 - 41,601 Other contingent liabilities 16,336 337,714 15,857 369,907 Undrawn facilities and other commitments to finance 780,011 - 17,168 797,179 Open foreign currency positions 696,497 - - 696,497 Repurchased and resale transactions 352,151 - - 352,151 Total off-balance sheet liabilities 2,446,040 560,467 33,171 3,039,678 Assets held for managing liquidity risk The Group holds a diversified portfolio of cash and high-quality high-liquid securities to support payment obligations and contingent funding in a stressed market environment. The Group’s assets held for managing liquidity risk comprise:  Cash and balances with central banks;  Certificates of deposit;  Government bonds and other securities that are readily acceptable in repurchase agreements with central banks; and  Secondary sources of liquidity in the form of highly liquid instruments in the Group’s trading portfolios and investment securities available-for-sale.