DMIT_Annual_Report_2018_EN

N OTES TO THE C ONSOLIDATED F INANCIAL S TATEMENTS (Thousands of US dollars) Dar Al-Maal Al-Islami Trust 56 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 2018 Corporate financing Bank financing Agricultural financing Consumer financing Other financing Other receivables Total Balance at 1 January 265,396 9,325 7,065 29,951 1,736 63,748 377,221 Impact of adoption of IFRS 9 ( Note 1) 95,386 3,352 2,539 10,765 624 655 113,321 Provisions for impairment 1,290 2,451 - 6,671 8,011 4,908 23,331 Reversal of impairment provision (7,713) - (1,303) (19,015) (3,884) (217) (32,132) Loans written off as uncollectable - - - (391) - - (391) Foreign exchange (48,366) (1,699) (1,287) (5,458) (316) (5,224) (62,350) Balance at 31 December 305,993 13,429 7,014 22,523 6,171 63,870 419,000 2017 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 (2,696) (17,334) Balance at 31 December 265,396 9,325 7,065 29,951 1,736 63,748 377,221 During the year ended 31 December 2018, a provision for impairment amounting to USD 24,671 (2017: USD 10,458) was charged against investment securities.