Page 264 - InterloopAnnualReport2020

NOTES TO THE CONSOLIDATED

FINANCIAL STATEMENTS

For the year ended June 30, 2020

2020 2019
Note (Rupees ‘000) (Rupees ‘000)

Shariah compliant bank deposits/bank balances
Bank balances 24,864 201,257

Revenue earned from a shariah compliant business 36,302,794 37,478,321
Loss/Gain or dividend from shariah
compliant investments
Net realized loss on disposal of mutual funds (4,200) (4,733)
Dividend Income on mutual funds for the year 692 615

Mark up on Islamic mode of financing 45.2 (412,241) (241,248)

45.2 Markup excludes the borrowing cost capitalized amounting Rs.107.501 million (2019:16 million).

2020 2019
(Rupees ‘000) (Rupees ‘000)

Profits or interest on any conventional
loan or advance
Interest on loan to Metis International (Pvt) Ltd 1,356 7,211
Profit on term deposit receipts (TDRs) 36,175 1,437
Profit on term finance certificates (TFCs) 55,606 –
Interest on receivables from IL Bangla Limited 5,796 5,796
Interest on workers’ profit participation fund (2,815) (21,425)
Interest on lease liabilities (19,916) (14)
Interest on other conventional loans (617,606) (626,965)

Relationship with shariah compliant banks
Name of institutions Relationship with institutions
MCB Islamic Bank Bank balance, long term financing and short term borrowing
Allied Bank Limited (Islamic Banking) Bank balance and long term financing
Meezan Bank Limited Bank balance, long term financing and short term borrowing
Bank Alfalah Limited (Islamic) Bank balance and long term financing
Bank of Punjab (Taqwa Islamic Banking) Bank balance and long term financing
Habib Bank Limited (Islamic Banking) Bank balance and long term financing
Faysal Bank Limited Bank balance and short term financing

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