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 76 17. Intangible assets (continued) The Board of Directors of Islamic Investment Company of the Gulf (Bahamas) Limited (IICG) decided to close its business activities in Saudi Arabia within the next 5 years, following the directives of the regulatory authorities in the Kingdom of Saudi Arabia. Subsequently, the Group reassessed the valuation of the Company, and impaired the goodwill. No impairment has been recognised on the intangible in 2018 (2017: USD 14.5 million). 17.1 Acquisition of subsidiaries Amount of goodwill acquired from subsidiary Acquisition of Solidarity Group Holding BSC (c) (Note 15) 12,976 Acquisition of Faisal Asset Management Company 2,949 15,925 18. Assets classified as held-for-sale Description 2018 2017 BBK B.S.C. (Note 15) - 411,466 Citic International Assets Management Ltd. (CIAM) - 65,716 - 477,182 During the year, the assets held-for-sale were reclassified to investment in associate (note 15) since they no longer met the criteria to classified as assets held-for sale. At 31 December 2017, the assets classified as held for sale amounted to $477.2 million. 19. Accounts payable 2018 2017 Accounts payable and other provisions 203,392 96,559 Advance received from customers 6,509 75,956 Demand drafts 168,409 66,162 Accruals 52,651 48,066 Security deposits on consumer leases 14,791 27,418 Dividends payable 12,854 33,998 Derivative financial instruments 5,517 39,912 Employee payables 17,640 18,546 Deferred income 4,700 316 486,463 406,933 There were no liabilities against assets subject to finance leases at 31 December 2018 (2017: Nil). Derivative financial instruments Foreign exchange derivatives held for trading: 2018 Contractual amount Fair value Equity futures - - 2017 Contractual amount Fair value Equity futures 21,391 (595)