Page 66 - Agib Bank Limited Annual Report 2021

2021 2020

Islamic financing and related assets

Murabaha receivables- 2,143,599 940,379
Ijara Financing 1,062 1,062
Istisnaa Receivables 181 221

Cash Line Financing 51,579 79,217
Mudaraba Financing 88,607 88,607
Short Term Financing 67,422 112,529
Musharaka Financing 1,227 1,098
Benevolent loan 3,840 5,455

Murabaha Deferred income (121,240) (40,568)

Impairment allowance (56,143) (28,590)

Islamic financing and related assets net of impairment allowance 2,180,134 1,159,410

Islamic financing and related assets at amortized cost 2021 2020

Gross Impairmen Carrying Gross Impairment Carrying
t
Amount Allowance Amount Amount Allowance Amount

Retail customers:
Murabaha Receivables 2,357,517 1,228,568 (28,590)
(56,143) 2,301,374 1,199,978
- - - - - -
-
Deferred income (121,240) (121,240) (40,568) (40,568)
2,236,277 2,180,134 1,188,000 (28,590) 1,159,410
(56,143)

Individual allowances for impairment (4,209)
(2,907 )
Corporate allowances for impairment (50,030) (24,205)

Balance at 31 December
Total allowances for impairment (55,049) (27,112)

Islamic financing and related assets customers
(continued)

Allowances for impairment – movement 2021 2020 2020
2021

Balance at brought forward 28,590 19,326
Amount written off (27,639) -

Impairment charge on loans 54,808 8,510 Annual Report and IFRS Financial Statements
Impairment charge on Off balance Sheet 384 754

55,192 9,264
Net movement during the year
Total allowances for impairment 56,143 28,590

Agib Bank Annual Report 2021 www.agib.gm 66