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Takaaful T&T Friendly Society 18th AGM Brochure 15

Balance Sheet is a sign of excellent performance and strength.

5.3 Investment Fund (Target – an increase of $1,263,515)
An examination of the Receipts & Payments Statement will show that while $2,551,378
was received in Investors’ Capital, $1,145,113 was withdrawn leaving a net increase of
$1,406,265. Internal transfers with respect to dividends, Membership Fees and FBS
contributions resulted in the net increase being $1,989,296. This is a 157% achievement.
The IF grew by 16%, it moved from $12,642,945 to $14,624,441.

The number of investors moved from 923 to 951 an increase by 28 i.e. 3%.

5.4 Hajj Fund (Target – an increase of $205,441)
A Net Increase of $176,707 was realized with Receipts being $410,321 and Payments
$233,614. Internal transfers with respect to dividends, Membership Fees and FBS
contributions resulted in the net increase being $271,604. This is a 132% achievement.

The number of participants in the Hajj Fund moved from 183 to 195, an increase of 12
and a growth of 7%.

5.5 Property Ownership Fund (Target – an increase of $48,920)
The POF was launched in May 2014. The POF increased by 114%, it moved from
$48,920 to $104,913. The achievement was also 114%.

The number of participants in the POF moved from 4 to 6, an increase of 2 and growth by
50%.

Table 5 Investment Products and Performance

Name of As at As at As at Growth Dividend
31.12.13 3%
Product 31.12.15 31.12.14 $11,438,162 $1,989,296 3%
16 % 3%
Investment Fund $14,624,441 $12,642,945 $1,752,625 $271,604
13 %
Capital $00 $55,993
114%
Hajj Fund $2,326,013 $2,054,610

Capital

Property $104,913 $48,920

Ownership Fund

6. Office Operations

The Board continues to use the services of Br. Imtiaz Ali as the Management Consultant,
responsible for all office operations.

Meetings of the Board of Management and all other committees were held at the
Management Consultant’s office at # 20 Springvale Road, Valsayn South.

Our Computerized Transaction Management System (CTMS) continues to operate
satisfactorily. This system provides effective record keeping and processing of
transactions relating to members’ accounts. A reliable back-up system is in place.