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 77 20. Tax liability 2018 2017 Current tax (receivable)/payable At 1 January (25,696) (17,693) Charge for the period 14,567 17,089 Payments made (18,707) (26,665) Adjustment due to withholding tax payment - 102 Refund (19) 23 Exchange differences 6,219 1,448 At 31 December (23,636) (25,696) Deferred tax (asset)/liability At 1 January (16,787) (23,712) Charge for the period 10,576 9,336 Changes due to fair value reserve (801) (3,679) Adjustment due to withholding tax payment 1,279 - Refund (3) (6) Exchange differences 2,981 1,274 At 31 December (2,755) (16,787) 21. Due to customers, banks and other financial institutions 2018 2017 Customer current accounts Individuals 869,759 692,342 Financial institutions 7,527 2,558 Corporate institutions 1,403,681 1,076,600 Customer investment accounts Individuals 716,920 846,293 Financial institutions 226,940 835,834 Corporate institutions 751,047 987,820 Investments from off balance sheet funds - 3,181 Due to banks and financial institutions 1,554,059 1,147,991 5,529,933 5,592,619 Customer current accounts include balances relating to a counterparty amounting to USD 207.4 million (2017: USD 215.6 million) which was subject to sanctions under US, EU and UN measures. The remaining due to customers represents conventional deposits accepted by a subsidiary of the Group. Due to banks and financial institutions include balances totalling USD 428.5 million from two counterparties (2017: USD 432.1 million) which were subject to sanctions under US, EU and UN measures and having contractual maturity ranging to up to one month as at 31 December 2018. As at 31 December 2018, there were collateralised borrowing in aggregate USD 178.7 million (31 December 2017: USD 117.7 million).