DMIT Annual Report 2017

N OTES TO THE C ONSOLIDATED F INANCIAL S TATEMENTS (Thousands of US dollars) Dar Al-Maal Al-Islami Trust 49 9. Allowance account from credit losses Allowance for impairment Reconciliation of allowance account for losses on investments in financings by class and receivables is as follows: Investments in financings 2017 Corporate financing Bank financing Agricultural financing Consumer financing Other financing Other receivables Total Balance at 1 January 269,407 12,163 7,028 21,080 1,462 44,428 355,568 Provisions for impairment 22,041 (2,783) 1,469 12,747 3,913 19,674 57,061 Reversal of impairment provision (11,259) - (881) (2,801) (4,400) - (19,341) Loans written off as uncollectable (1,127) - - (159) - (384) (1,670) Amounts recovered 211 - - - - (2,726) (2,515) Foreign exchange (13,877) (55) (551) (916) 761 2,756 (11,882) Balance at 31 December 265,396 9,325 7,065 29,951 1,736 63,748 377,221 Collective impairment 17,510 - - 5,151 - 12,365 35,026 Individually impaired loans 247,886 9,325 7,065 24,800 1,736 51,383 342,195 2016 Balance at 1 January 289,158 12,158 6,848 20,787 1,700 55,970 386,621 Provisions for impairment 14,201 - 130 237 6 844 15,418 Reversal of impairment provision - - - - - (915) (915) Loans written off as uncollectable (35,789) - - - - (10,649) (46,438) Foreign exchange 1,837 5 50 56 (244) (822) 882 Balance at 31 December 269,407 12,163 7,028 21,080 1,462 44,428 355,568 Collective impairment 15,045 - - 4,449 - 6,370 25,864 Individually impaired loans 254,362 12,163 7,028 16,631 1,462 38,058 329,704