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 45 15. Investment in associates Investment in associated entities, as adjusted for the Group’s share of their results comprise: Name of company 2024 % holding 2023 % holding Country of incorporation Nature of business Unlisted: Citic International Assets Management Limited 12,964 20 20,072 20 Hong Kong Asset Management Naseej B.S.C. (c) 68,231 31 68,231 31 Bahrain Infrastructure Dilmunia Eduprop Company W.L.L. 18,993 50 - - Bahrain Real Estate Faysal Stock Fund - - 24 11 Pakistan Mutual funds Faysal Islamic Stock Fund 18 - 446 29 Pakistan Mutual funds Faysal Halal Amdani Fund 2,423 1 5,468 4 Pakistan Mutual funds Faysal Islamic Financial Growth Fund FISP-1 12 - 401 29 Pakistan Mutual funds Faysal Islamic Sovereign Fund FISIP-1 2,949 - 11 0 Pakistan Mutual funds Faysal Islamic Special Income Fund FIFGP-I - 5 6 5 Pakistan Mutual funds Faysal Islamic Cash Fund 978 1 - - Pakistan Mutual funds Faysal Islamic Mehmood Muddat Plan-1 12 - - - Pakistan Mutual funds Faysal Islamci Sovereign Fund FISIP-II 4 - - - Pakistan Mutual funds 106,584 94,659 During the period, the Group’s subsidiary increased its shareholding in these funds, thereby classifying them as associates. - Share of reserves of Investment in associates amount to $ 4.4 million (31 December 2023: $1.6 million). - Investment in associates include conventional investments totaling $81.2 million (31 December 2023: $88.3 million). Summarised financial position of significant associates that have been equity accounted: Citic International Assets Management Limited 31 December 2024 31 December 2023 Total assets 80,163 107,443 Total liabilities 5,340 7,082 Total revenue (1,894) (701) Total net profit (8,835) (5,896) Naseej B.S.C. (c) 31 December 2024 31 December 2023 Total assets 244,920 235,501 Total liabilities 22,602 13,177 Total revenue 6,353 5,481 Total net profit (2,342) (1,991)