Page 140 - InterloopAnnualReport2021

NOTES TO THE

FINANCIAL STATEMENTS

For the year ended June 30, 2021

January 31, 2021
(Rupees ‘000)
44.1 Reconciliation of the net assets acquired to
amount transferred to reserves is as follows
Net assets acquired 240,496
Less: Investment in subsidiary (1,045,000)
Net loss transferred to reserves (804,504)

2021 2020
Note (Rupees ‘000) (Rupees ‘000)
45. SHARIAH SCREENING DISCLOSURE
Loans/advances as per Islamic mode
Loans 24 & 29 9,987,775 8,021,400

Shariah compliant bank deposits/bank balances
Bank balances 115,316 24,864

Revenue earned from a shariah compliant business 54,962,265 36,302,794
Loss/Gain or dividend from shariah compliant investments
Net realized gain/(loss) on disposal of mutual funds 683 (4,200)
Dividend Income on mutual funds for the year – 692

Mark up on Islamic mode of financing (448,839) (412,241)
Profits or interest on any conventional loan or advance
Interest on loan to Metis International (Pvt) Ltd 1,152 1,356
Profit on term deposit receipts (TDRs) 3,088 36,175
Profit on term finance certificates (TFCs) 45,624 55,606
Interest on receivables from IL Bangla Limited 5,308 5,796
Interest on workers’ profit participation fund (1,553) (2,815)
Interest on lease liabilities (18,068) (7,649)
Interest on other conventional loans (495,112) (570,797)

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
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, long term financing and short term
borrowing

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