2011 Annual Report - Khaleeji Commercial Bank BSC

KHALEEJI COMMERCIAL BANK BSC
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 31 December 2011
BD 000’s
9. INVESTMENT PROPERTY
The Bank owns two plots of land in the Bahrain Financial Harbour project which were received in consideration for sale of an
investment in 2010. Of the two plots of land received, one plot is intended for the Group’s own use and has been classified
under “Property and equipment” (refer to note 11). The second plot of land is held for capital appreciation purposes and hence
has been classified as “Investment property”.
10. OTHER ASSETS
31 December 31 December
2011 2010
Income from sukuk receivable 94 800
Prepayments 650 543
Other receivables 1,446 1,133
2,190 2,476
Other receivables is net of impairment provision of BD 773 thousand (2010: BD 773 thousand).
11. PROPERTY AND EQUIPMENT
L land Furniture Computers Motor Other Work-in- 2011 2010
(note 9) and fixtures Vehicle equipment progress Total Total
Cost
At 1 January 6,714 3,424 2,195 73 181 485 13,072 6,457
Additions / capitalisation - 366 399 - 42 1 808 7,207
Disposal / transfers - - - - (6) (196) (202) (592)
At 31 December 6,714 3,790 2,594 73 217 290 13,678 13,072
Accumulated Depreciation
At 1 January - 1,314 1,670 38 85 - 3,107 2,108
Charge for year - 717 398 15 39 - 1,169 1,342
Disposals - - - - (4) - (4) (344)
At 31 December - 2,031 2,068 53 120 - 4,272 3,106
Net book value
at 31 December 2011 6,714 1,759 526 20 97 290 9,406 9,966
Net book value
at 31 December 2010 6,714 2,111 525 35 96 485 9,966
12. PLACEMENTS FROM NON-FINANCIAL INSTITUTIONS AND INDIVIDUALS
31 December 31 December
2011 2010
Non-financial institutions 28,424 19,018
Individuals 18,223 -
46,647 19,018
These represent placements in the form Murabaha and Wakala contracts.
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Annual Report 2011