Page 116 - ICD AR21 EN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
(CONTINUED)
21 RELATED PARTY TRANSACTIONS AND BALANCES
Related parties represent subsidiaries, associated companies, members, directors and key management personnel of the Corporation, and entities controlled, jointly controlled or significantly influenced by such parties. Pricing policies and terms of these transactions are approved by the Corporation's management.
21.1 THE FOLLOWING ARE THE DETAILS OF MAJOR RELATED PARTY TRANSACTIONS ENTERED DURING THE YEAR:
Related parties
Nature of Transactions
31 December 2021 USD
31 December 2020 USD
Islamic Development Bank Group
Al Majmoua Al Mauritania Maldives Islamic Bank
International Islamic Trade Fin. Corp. ICD Fixed Income Limited
Rent & pension (note a) 4,421,047 Advance 86,284 Sale of Shares 186,527 Advance - Management fee 665,786
5,037,816 - 4,813,849 53,965 1,033,835
4,766,581 1,213,235 1,000,000
883,707 871,291 500,968 330,006 254,633 104,387 215,018
21.2 CERTAIN RELATED PARTY TRANSACTIONS AND BALANCES HAVE BEEN DISCLOSED IN NOTES 5TO 10.
21.3 DUE FROM RELATED PARTIES COMPRISED THE FOLLOWING: Tamweel Africa Holding
31 December 2021 USD
31 December 2020 USD
4,766,171 547,449 1,000,000 697,180 871,265 500,968 253,722 254,633 104,376 Others 629,317
ICD Fixed Income Limited Taiba Titrisation
Maldives Islamic Bank
Ijarah Management Company Wifack International Bank
Al Majmoua Mouritania (MMI)
Taiba Leasing
International Islamic Trade Finance Corporation (ITFC)
9,625,081
10,139,826
114 ICD ANNUAL REPORT 2021