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 54 36.Funds under management (continued) Management believes that, based on the Modaraba agreement and external lawyer's advice, any resultant liability will be ultimately settled from the assets of funds under management. In addition, based on external lawyer confirmation 10 July 2025, management believes that the courts in Saudi Arabia lack enforcement jurisdiction since IICG does not have any presence or assets in Saudi Arabia. Therefore, IICG does not carry provision for such claims. 37. Related party transactions and balances Related parties include equity participation holders, directors, associated companies and other companies, whose ownership and management is common with DMI or its subsidiaries and associates. A number of transactions are entered into with related parties in the normal course of business. These include loans, current and investment accounts. Transactions and balances disclosed as with associated companies are those with companies in which DMI owns 20% to 50% of the voting rights and over which it exerts significant influence but does not have control. The volumes of related party transactions, outstanding balances at the year end, and relating income and expense for the year are as follows. 31 December 2024 Subsidiaries & Affiliates Associates and other investments Directors and related entities Senior Management Total Assets Investment in associates - 106,584 - - 106,584 Other assets - - - 98 98 Liabilities Due to customers - 60 - - 60 Due to banks and other financial institutions - 7,489 - - 7,489 Accounts payable 19,944 - 500 - 20,444 Income Share of loss of associate companies - (6,934) - - (6,934) Profit paid to financial and non-financial institutions - (457) - - (457) Expenses Staff costs - - - (754) (754) General and administrative expenses - - (1,055) (521) (1,576)