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| Note | 2021 AED'000 |
2020 AED'000 |
2019 AED'000 |
|
|---|---|---|---|---|
| Cash flows from operating activities | ||||
| Profit for the year | 15,590 | 16,762 | 25,126 | |
| Non-Cash adjustments: | ||||
| Depreciation | 9 | 690.61 | 458.20 | 488.73 |
| Provision/(reversal) on employees' end of service benefits | 12 | 366.89 | 250.65 | (92.43) |
| Net impairment charges/(reversal) on Islamic financing assets | 7 | 3,067.10 | 5,553.92 | 8,952.86 |
| 19,714.89 | 23,025.13 | 34,474.68 | ||
| Working capital adjustments : | ||||
| Increase in Islamic financing assets | 7 | (5,711.18) | (21,167.32) | (35,568.01) |
| Decrese /(increase) in wakala deposits with financial institutions | - | - | - | 10,500.00 |
| Increase in deposits,prepayments and other recivables | 8 | (5,890.95) | 57,073.16 | (19,566.37) |
| Increase in depositors' accounts | 10 | (51,211.43) | (77,237.43) | 14,609.16 |
| Increase in trade payables and other liabilities | 11 | 11,429.52 | 16,437.91 | 3,223.19 |
| Cash generated from / ( used in) operations | -31,669 | -1,869 | 7,672.64 | |
| payment for employees' end of service benefits | 12 | -16 | -3 | (2.12) |
| Net cash flows from / (used in) operating activities | (31,685.02) | (1,871.78) | 7,670.52 | |
| Investing activities | ||||
| Proceeds from disposal of furniture, fixtures and office equipment | 20.18 | - | - | |
| Purshase of furniture ,fixtures & office equipment | 9 | (1,555.0) | (2,215.7) | (921.0) |
| Net Cash Flows used in investing activities | (1,534.8) | (2,215.7) | (921.0) | |
| Financing activities | ||||
| Increase in paid up capital | 13 | - | 30,000.0 | - |
| Net Cash Flows used in financing activities | - | 30,000.0 | - | |
| Increase /(decrease) in cash and cash equivalents | -33,220 | 25,913 | 6,749.5 | |
| cash and cash equivalents at 1 January | 38,028 | 12,116 | 5,366.4 | |
| Cash and cash equivalents at 31 December | 6 | 4,809 | 38,028 | 12,116 |