2012 Annual Report - Financial Statements (English) - Khaleeji ...

KHALEEJI COMMERCIAL BANK BSCNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSfor the year ended 31 December 2012 | BD 000’s32. PROPOSED APPROPRIATIONSThe Board of Directors propose the following appropriations for 2012 which are subject to shareholders approval in the ensuing AnnualGeneral Meeting:2012 2011Directors’ remuneration - -Charity - -Zakah 228 21433. COMMITMENTSThe commitments contracted in the normal course of business of the Bank:2012 2011Undrawn commitments to extend finance 15,405 4,619Financial guarantees 12,737 7,423Commitment to investments - 5,65528,142 17,697Performance obligationsDuring the ordinary course of business, the Group may enter into performance obligations in respect of certain of its infrastructuredevelopment projects. It is the usual practice of the Group to pass these performance obligations, wherever possible, on to the companiesthat own the projects. In the opinion of the management, no liabilities are expected to materialise on the Group at 31 December 2012 due tothe performance of any of its projects.34. SOCIAL RESPONSIBILITYThe Bank discharges its social responsibilities through donations to charitable causes and organisations.35. COMPARITIVESCertain prior period amounts have been regrouped to conform to current year’s presentation. Such regrouping did not affect previouslyreported profit or equity.64Annual Report 2012