Annual Report - Ahli United Bank

ahliunited.com

Annual Report - Ahli United Bank

38 ISLAMIC BANKING (continued)Statement of income for the year ended 31 December2009 2008US$ ’000 US$ ’000Net income from Islamic financing activities 12,410 2,71112,410 2,711Fees and commissions - net 1,389 605NET OPERATING INCOME 13,799 3,316Staff costs 949 369Depreciation 241 289Other operating expenses 730 154OPERATING EXPENSES 1,920 812PROFIT OF UNRESTRICTED INVESTMENT ACCOUNT HOLDERS 11,879 2,504Less : Share of profit of unrestricted investment account holders (538) (918)NET PROFIT FOR THE YEAR 11,341 1,586During the year assets and liabilities amounting to US$ 968,637 thousand and US$ 957,194 thousand respectively were transferred tothe Bank’s Sharia’a compliant branches on receipt of Sharia’a Board’s approval.AUB Annual Report 2009101

More magazines by this user
Similar magazines