Page 101 - ICD-AR22-English

Notes to the Separate Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022
Future rentals receivable relating to Ijarah Muntahia Bittamleek as at 31 December 2022 are estimated to be USD 323.72 million (2021: USD 346.77 million). The precise amount at the end of each period is only known prior to the commencement of the period, as some of the rentals are determined based on floating rates. Detail of the receivables is shown below:
31 December 2022 USD
31 December 2021 USD
Expected within 12 months
Expected after 12 months but less than 5 years Expected after 5 years
47,663,464
144,941,662
131,118,034
98,435,903
117,872,019
130,458,244
323,723,160
346,766,166
Future commitments related to Ijarah contracts are summarized in note 33 and these are expected to be paid within 12 months.
11 ISTISNA’A ASSETS Istisna’a financing
Accrued income
Less: deferred income
Less: Allowance for credit losses (note 25)
12 INCOME FROM FINANCING ASSETS Murabaha financing
Installment sales financing
Ijarah Muntahia Bittamleek (IMB), net (note 24) Istisnaa assets
17,401,333
133,863
(3,879,443)
13,655,753 (96,201)
4,395,472
19,264,539
12,110,985 735,075
22,053,098
532,909
(5,110,249)
17,475,758 (1,629,527)
1,690,299
16,006,527
13,425,057 949,745
31 December 2022 USD
31 December 2021 USD
13,559,552
15,846,231
31 December 2022 USD
31 December 2021 USD
Total income from financing assets
36,506,071
32,071,628
REINVIGORATING THE PRIVATE SECTOR TO SHAPE A BETTER FUTURE 99