Murabaha Sample Clauses

Murabaha. This represents finance obtained from an Islamic bank. The profit rate on the finance is 12.50 (2010: 12.75 and 13.00) percent per annum with maturity on 16 January 2012 (2010: 03 January 2011 and 14 January 2011). 2011 2010 (Rupees in '000) Certificates of investment (COI) / deposits 1,726,601 3,138,512 15.1 Particulars of deposits In local currency 1,726,601 3,138,512 The profit rates on these COIs / deposits ranges between 11.40 and 13.90 (2010: 11.50 and 13.75) percent per annum. The COIs / deposits are due for maturity between January 13, 2012 and March 22, 2015 (2010: January 11, 2011 and March 22, 2015). Included in COIs / deposits is an amount of Rs. 1,724.101 million (2010: Rs. 3,106.012 million) payable within twelve months. Note 2011 2010 Mark-up / return / interest payable in local currency 126,859 135,584 Accrued liabilities 85,399 71,702 Retention money payable - 22 Staff retirement gratuity 31.1.4 3,868 12,415 Security deposits against finance lease 10.2.2 81,723 100,154 Employees’ compensated absences 11,362 9,611 Payable on account of purchase of marketable securities 23,292 - Other liabilities 1,468 4,519 333,971 334,007 17.1 Authorised Share Capital 2011 2010 (Number of shares) 17.2 Issued, Subscribed and Paid-up Share Capital 2011 2010 (Number of shares) 17.3 Reserves Note 2011 (Rupees 2010 in '000) Statutory reserve 17.3.1 3,114,865 2,992,287 17.3.1 Statutory reserve - compulsory reserve At beginning of the year 2,992,287 2,884,894 Add: Transfer during the year 122,578 107,393 3,114,865 2,992,287 According to BPD Circular No. 15 dated May 31, 2004 issued by the SBP, an amount not less than 20% of the after tax profits shall be transferred to create a reserve fund till such time the reserve fund equals the amount of the paid-up capital and after that a sum not less than 5% of profit after tax shall be credited to the statutory reserve. The Company has transferred 20% of its after tax profit for the year to this reserve amounting to Rs. 122.578 million (2010: Rs. 107.393 million). 42 Annual Report 2011 (Rupees in '000) Federal government securities (51,504) (167,798) Shares of listed companies (58,997) 323,793 Listed term finance certificates 192 (1,065) (110,309) 154,930 Deferred tax 19,867 41,298 (90,442) 196,228
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Murabaha. This represents finance obtained from an Islamic bank by the holding company. The profit rate on the finance is 12.50 (2010: 12.75 and 13.00) percent per annum with maturity on 16 January 2012 (2010: 03 January 2011 and 14 January 2011). 94 Annual Report 2011

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