Page 102 - ICD AR21 EN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
(CONTINUED)
12 EQUITY INVESTMENTS (Continued)
12.2 INVESTMENTS IN ASSOCIATES
Effective ownership percentage in associates and their countries of incorporation at the end of the year and nature of business are as follows:
Name of the entity
Country of incorporation
Nature of business
Effective ownership %
2021
2020
Al-Akhdar Bank
Enmaa Ijara Company
Bank Islamic Du Senegal
Theemar Investment Fund
Anfaal Capital
Kyrgyzstan Ijara Company
Kazakhstan Ijara Company
Albania Leasing
Maldives Islamic Bank
Palestine Ijarah Company
Halic Finansal Kiralama A.S.
Al Fareeda Residential Fund
Wifack International Bank
ICD Money Market Labuan
Royal Atlantic Residence
Saudi SME Fund (Afaq)
Al Sharkeya Sugar
Jordan Pharmaceutical Manufacturing Co. Saba Islamic Bank
Arab Leasing Company
PMB Tijari Berhad
Turkish Asset Management (K.A.M.P) Saba Islamic Bank
Morocco Egypt Senegal Tunisia Saudi Arabia Kyrgyzstan Kazakhstan Albania Maldives Palestine Turkey Saudi Arabia Tunisia Malaysia Gambia Saudi Arabia Egypt Jordan Yemen Sudan Malaysia Turkey Yemen
Banking Leasing Banking Fund Investment Advisory Leasing Leasing Leasing Banking Leasing Leasing Real Estate Leasing Asset Mgt. Real Estate Fund Manufacturing Manufacturing Banking Leasing Leasing Fund Banking
49 49 47 47 27 - 40 40 38 38 37 37 36 36 36 36 36 36 33 33 33 33 33 33 30 30 29 - 25 25 25 25 22 22 22 22 20 20 20 20 20 20 20 20 20 20
a) In the above investments, certain associates carried at nil value where the Corporation had invested in earlier years and were fully impaired.
100 ICD ANNUAL REPORT 2021