Page 96 - ICD AR21 EN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
(CONTINUED)
5 CASHANDCASHEQUIVALENTS Cash at banks
Commodity Murabaha and Wakala placements (note 6) Less: allowance for credit losses (note 23)
Bank balance relating to ICD Solidarity Fund
52,427,875 105,000,000 (655)
157,427,220 1,220,242
46,210,314 257,708,000 (3,096)
303,915,218 1,143,741
31 December 2021 USD
31 December 2020 USD
158,647,462
305,058,959
Certain bank accounts with balance of USD 4,862,916 (31 December 2020: USD 4,495,311) are in the name of Islamic Development Bank (IsDB). However, these bank accounts are beneficially owned and managed/operated by the Corporation.
Commodity Murabaha placements included within cash and cash equivalents are those placements which have original maturity of equal to or less than three months. Commodity Murabaha placements with original maturity of above three months are disclosed in note 6.
6 COMMODITYMURABAHAANDWAKALAPLACEMENTS Commodity Murabaha and Wakala placements 317,144,759 794,438,265
31 December 2021 USD
31 December 2020 USD
Less: Commodity Murabaha and Wakala placements with an original maturity of three months or less (note 5)
Less: allowance for credit losses (note 23)
(14,078,240)
(257,708,000) (9,882,802)
(105,000,000)
198,066,519
526,847,463
a) All the above Commodity Murabaha and Wakala placements are with international financial institutions and denominated in US Dollars.
b) Commodity Murabaha and Wakala placements include an amount of USD 356,164 (2020: USD 5,839,422) provided to a related party of the Corporation, over which the Corporation earned profit of USD nil
(31 December 2020: USD 3,977).
94 ICD ANNUAL REPORT 2021