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P. 124
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
(CONTINUED)
28 CONTRACTUAL MATURITIES OF ASSETS AND LIABILITIES (Continued)
31 December 2020
Less than 3 months USD
3to12 months USD
1to5years USD
Over 5 years USD
No fixed maturity USD
Total USD
Assets
Cash and cash equivalents 305,058,959 Commodity Murabaha and Wakala
placements
Sukuk investments 64,732,003 Murabaha financing 25,919,551 Installment sales financing 38,975,964 Ijarah Muntahia Bittamleek 34,109,980 Istina’a assets 524,366 Equity investments - Other assets - Property and equipment -
Liabilities
Sukuk issued - Commodity Murabaha financing 48,027,683 Accrued and other liabilities - Employee pension liabilities - Amounts due to ICD Solidarity Fund 1,201,580
-
90,391,407
19,580,043 160,432,930 2,006,634 868,203 - 49,253,246 -
300,000,000 452,950,000 53,079,798 - -
- - - 305,058,959 526,847,463
150,835,121
376,012,342
-
-
-
773,812,700 20,779,759 156,358,857 59,009,944 5,074,947 - - 173,417
700,000,000 662,666,666 - - -
428,160,169 - 42,489,143 - 3,519,616 - 123,009,000 - 14,606,488 - - 322,134,545 - - - -
- - - - - - - 54,454,005 - -
1,357,096,279 108,768,496 359,287,367 218,135,558
21,074,004 322,134,545 49,253,246 173,417
1,000,000,000 1,163,644,349 53,079,798 54,454,005 1,201,580
620,155,944
698,544,805
1,015,209,624
611,784,416
322,134,545
3,267,829,334
49,229,263
806,029,798
1,362,666,666
-
54,454,005
2,272,379,732
29 SHARI’AH SUPERVISION
According to Article 29 (1) of the Articles of Agreement of the Corporation, the Corporation shall have a Shari’ah Board. As a member of the IsDB group, the Corporation utilizes the IsDB Group Shari’ah Board. The Group Shari'ah Board was established pursuant to a Resolution of the Board of Executive Directors of IsDB. The members of the Board are appointed for 3 years and may be reappointed.
The Group Shari’ah Board has the following functions:
• toconsiderallproductsintroducedbytheIsDB,itsaffiliatesandtrustfundsforuseforthefirsttimeandruleon their conformity with the principles of the Islamic Shari’ah, and lay down basic principles for drafting of related contracts and other documents;
122 ICD ANNUAL REPORT 2021
