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CONSOLIDATED STATEMENT OF CASH FLOWS

for the year ended 31 December
   
Note
2020
AED'000
2019
AED'000
Cash flows from operating activities
Profit for the year
  16,762 25,126
Non-Cash adjustments:
Depreciation 9 458.20 488.73
Provision/(reversal) on employees' end of service benefits 12 250.65 (92.43)
Net impairment charges/(reversal) on Islamic financing assets 7 8,201.59 8,952.86

Working capital adjustments :
  25,672.80 34,474.68
Increase in Islamic financing assets 7 (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 57,073.16 (19,566.37)
Increase in depositsrors' accounts 10 (77,237.43) 14,609.16
Increase in trade payables and other liabilities 11 13,790.24 3,223.19
Cash generated from / ( used in) operations   -1,869 7,672.64
payment for employees' end of service benefits 12 -3 (2.12)
Net cash flows from / (used in) operating activities   (1,871.78) 7,670.52
Investing activities
Purshase of furniture ,fixtures & office equipment 9 (2,215.7) (921.0)
Net Cash Flows used in investing activities   (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   25,913 6,749.5
cash and cash equivalents at 1 January   12,116 5,366.4
Cash and cash equivalents at 31 December 6 38,028 12,116