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Derivatives with positive mar et values(unreali ed

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Unformatted text preview: Derivatives with positive mar et values (unreali ed gains) are included in other asets and derivatives with negative mar et values (unreali ed loses) are included in other liabilities in the balance shet. The resultant gains / (loses) are recognised in the curent period. Derivatives are derecognised either when the Ban has trans ered substantialy al the ris s and rewards o ownership or when it has neither trans ered or retained substantialy al the ris s and rewards and when it no longer has control over the asets or a proportion o the aset. 6.17 Fiduciary a t Asets held in a iduciary capacity are not treated as asets o the Ban in the balance shet. 6.18 Provi ion Provision are recogni ed when the Ban has a present legal or constructive obligation as a result o a past event and it is probable that an out low o resources embodying economic bene its wil be required to setle the obligation and a reliable estimate can be made o the amount o the obligation. Provisions are reviewed at each balance shet date and adjusted to re lect the curent best estimate. 7. CASH AND BALANCES WITH TREASURY BANKS In hand Local curency 58,373- Foreign curency 9,499- 67,872 With State Ban o Pa istan in: Local curency curent acounts 7.1 252,335- Foreign curency deposit acounts 7.2 18, 15- 27 ,35 338,222 7.1 Includes Rs. 211.189 milion held against CRR and SLR. Balance amount is available to the Ban or its operations. 7.2 Includes amounts equivalent to Rs. 3. 9 milion held against CRR and SCRR. Balance amount is available to the Ban or its operations. These deposits do not cary any return. Not------- Rup in '000 ------- D c mb r 31, 2006 D c mb r 31, 2005 32 8. BALANCES WITH OTHER BANKS In Pa istan On curent acounts 12,896 465 On deposit acounts 8.1 75 ,827 1,159,632 763,723 1,16 , 97 Outside Pa istan On curent acounts 26,986- 79 ,7 9 1,16 , 97 8.1 Represents deposits with various Islamic comercial ban s under Mushara a and Modaraba arangements with maturities les than 3 months. The expected pro it rates on these arangements range betwen 1.5 percent to 9 percent per anum (2 5: 2 percent to 9.25 percent per anum). 9 DUE FROM FINANCIAL INSTITUTIONS 9.1 The Ban has entered into comodity Murabaha agrements under which the Ban purchases an underlying comodity rom open mar et through an agent and sels it to a inancial institution on credit with pro it. 9.2 Murabaha al pric 412,131- Purcha pric 4 ,- 12,131- D f r d Murabaha incom Opening balance- - De ered during the year 12,131- Recognised during the year 1,162- 1 ,969- Murabaha r c ivabl Opening balance- - Sales during the year 412,131- Received during the year- - 412,131- Not------- Rup in '000 ------- D c mb r 31, 2006 D c mb r 31, 2005 Not------- Rup in '000 ------- D c mb r 31, 2006 D c mb r 31, 2005 Comodity Murabaha local curency 9.1, 9.2 412,131- Not------- Rup in '000 ------- D c mb r 31, 2006 D c mb r 31, 2005 33 10.1 Inv tm nt by typ h ld by Ban H ld-for-trading curiti Oil and Ga Exploration Oil and Gas Development Company Limited 87, 1 ,167 - - Pa istan Oil ield Limited...
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Derivatives with positive mar et values(unreali ed gains...

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