Page 129 - ICD-AR22-English

Notes to the Separate Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022
31 December 2021
Less than 3 months USD
3to12 months USD
1to5 years USD
Over 5 years USD
No fixed maturity USD
Total USD
Assets:
Cash and cash equivalents
Commodity Murabaha and Wakala placements Sukuk investments
Murabaha financing
Installment sales financing
Ijarah Muntahia Bittamleek Istina’a assets
Equity investments
Other assets
Property and equipment
Liabilities
Sukuk issued
Commodity Murabaha financing Accrued and other liabilities Employee pension liabilities Amounts due to ICD Solidarity Fund
158,689,143
192,798,038 91,738,179 13,855,532
3,446,826 10,642,842 628,823 - - -
- - - -
1,220,122
-
10,000,000 95,970,000 9,578,380 39,441,943 23,837,198 869,192 - 38,887,685 -
- 130,000,000 40,007,391 - -
-
-
934,294,256
56,772,509
260,596,278
76,020,720
3,160,858
-
-
298,128
700,695,404
869,884,290
-
-
-
- -
- -
414,400,000 -
40,224,483 -
4,088,158 -
110,174,770 -
11,187,358 -
- 359,274,458
- -
- -
- -
100,000,000 -
- -
- 39,722,752
- -
158,689,143
202,798,038
1,536,402,435
120,430,904
307,573,205
220,675,530
15,846,231
359,274,458
38,887,685
298,128
700,695,404
1,099,884,290
40,007,391
39,722,752
1,220,122
471,799,383
218,584,398
1,331,142,749
580,074,769
359,274,458
2,960,875,757
1,220,122
170,007,391
1,570,579,694
100,000,000
39,722,752
1,881,529,959
30 SHARI’AH SUPERVISION
According to Article 29 (1) of the Articles of Agreement of the Corporation, the Corporation shall have a Shari’ah Board. As a member of the IsDB group, the Corporation utilizes the IsDB Group Shari’ah Board. The Group Shari'ah Board was established pursuant to a Resolution of the Board of Executive Directors of IsDB. The members of the Board are appointed for 3 years and may be reappointed.
The Group Shari’ah Board has the following functions:
– to consider all products introduced by the IsDB, its affiliates and trust funds for use for the first time and rule on their conformity with the principles of the Islamic Shari’ah, and lay down basic principles for drafting of related contracts and other documents;
– to give its opinion on the Shari’ah alternatives to conventional products which the IsDB, its affiliates and trust funds intend to use, and to lay down basic principles for drafting of related contracts and other documents and contribute to their development with a view to enhancing the IsDB’s, its affiliates’ and trust funds’ experience in this regard;
REINVIGORATING THE PRIVATE SECTOR TO SHAPE A BETTER FUTURE 127