Annual Report 2024

Dar Al-Maal Al-Islami Trust NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2024 in thousands of USD 37 8. Investment securities carried at FVOCI Financial assets at fair value through other comprehensive income (FVOCI) comprise: - Equity securities which are not held for trading, and which the group has irrevocably elected at initial recognition to recognise in this category. Debt securities where the contractual cash flows are solely principal, and interest and the objective of the group’s business model is achieved both by collecting contractual cash flows and selling financial assets. 2024 2023 Debt-type instruments – listed 144,090 173,565 Debt-type instruments – unlisted 2,385,794 2,197,332 Equity-type securities – listed 39,306 24,949 Equity-type securities – unlisted 174,287 24,708 2,743,477 2,420,554 Less: Allowance for impairment (139,557) (133,647) Total 2,603,920 2,286,907 The expected credit loss movement in investment debt and equity securities carried at FVOCI is summarised as follows: 2024 2023 At 1 January 133,647 175,819 Net financial assets originated 1,603 781 FX movements 4,307 (42,953) At 31 December 139,557 133,647 9. Investment securities carried at amortised cost 2024 2023 Investment securities carried at amortised cost 29,935 29,721 Less: Allowance for impairment (5,044) (5,013) 24,891 24,708 The expected credit loss movement in investment securities carried at amortised cost is summarised as follows: 2024 2023 At 1 January 5,013 6,476 Net financial assets 31 (1,463) At 31 December 5,044 5,013 The carrying value of investment securities at amortised cost (net of impairment provision) approximates fair value. 10. Investments in financings 2024 2023 Investments in financings 2,742,148 2,554,245 Provision for expected credit losses (Note 4) (220,578) (221,238) Investments in financings 2,521,570 2,333,007 Certain assets totalling US dollar 4.5 million (31 December 2023: US dollar 4.5 million) included above are held by third parties as nominee on behalf of the Group. Investments in financing include conventional loans and advances totalling to $Nil million (31 December 2023:$56.9 million) made by subsidiaries of the Group.