18 Cash and cash equivalents
Cash and cash equivalents
| 2020 | 2019 | |
| AED’000 | AED’000 | |
| Cash balances | ||
| Cash on hand | 6,717 | 10,134 |
| ———————- | ———————- | |
| Due from banks with original maturities of less than three months | ||
| Placements with banks | 166,063 | 121,789 |
| Call accounts | 192,005 | 207,637 |
| Current and demand accounts | 110,893 | 86,983 |
| Balance with UAE Central Bank | 26,550 | 83,399 |
| Restricted cash balances* | 6,000 | 6,000 |
| ———————- | ———————- | |
| 501,511 | 505,808 | |
| ———————- | ———————- | |
| Due from banks and other financial institutions with | ||
| original maturity of more than three months | (1,044) – | |
| Due to banks and other financial institutions with | ||
| original maturity of less than three months | (54,577) | (13,459) |
| Other restricted cash balances* | (6,000) | (6,000) |
| ———————- | ———————- | |
| Net cash and cash equivalents | 446,607 | 496,483 |
| ============= | ============= | |
*Restricted cash represents deposits with insurance authority amounting to AED 6,000 thousand (2019: AED 6,000 thousand).
Reconciliation of movement of liabilities to cashflows arising from financing activities
| Proposed | Non | |||||||
| Short Term | Medium | Lease | Retained | Tier 1 | Tier 1 | Directors’ | Controlling | |
| Borrowings | Term Loan | Liabilities | Earnings | Sukuks | Bonds | Remuneration | Interest | |
| AED’000 | AED’000 | AED’000 | AED’000 | AED’000 | AED’000 | AED’000 | AED’000 | |
| Balance at 1 January 2020 | 173,100 | 100,003 | 8,374 | 15,890 | 280,400 | 15,000 | 1,223 | 87,782 |
| Changes from financing cashflows | ||||||||
| Repayments of short-term borrowings | (173,100) | – | – | – | – | – | – | – |
| Repayments of medium-term loans | – | (75,003) | – | – | – | – | – | – |
| Proceeds from medium term borrowings | 298,160 | – | – | – | – | – | – | – |
| Movement in Tier 1 Sukuk | – | – | – | – | (550) | – | – | – |
| Proceeds from Tier 1 Bonds | – | – | – | – | – | – | – | – |
| Tier 1 Sukuk coupon paid | – | – | – | (19,560) | – | – | – | – |
| Tier 1 Bonds dividend paid | – | – | – | (1,237) | – | – | – | – |
| Lease liabilities paid | – | – | (4,913) | – | – | – | – | – |
| Cash dividend paid | – | – | – | (8,359) | – | – | – | – |
| Director’s remuneration paid | – | – | – | – | – | – | (1,223) | – |
| —————— | —————- | —————– | ————— | ————— | ————— | —————– | ————— | |
| Total changes from financing cashflows | 125,060 | (75,003) | (4,913) | (29,156) | (550) | – | (1,223) | – |
| Total equity related other changes | – | – | – | 32,590 | – | – | 1,957 | 5,800 |
| —————— | —————- | —————– | ————— | ————— | ————— | —————– | ————— | |
| Balance at 31 December 2020 |
298,160 |
25,000 |
3,461 |
19,324 |
279,850 |
15,000 |
1,957 |
93,582 |
Reconciliation of movement of liabilities to cashflows arising from financing activities
| Proposed | Non | |||||||
| Short Term | Medium | Lease | Retained | Tier 1 | Tier 1 | Directors’ | Controlling | |
| Borrowings | Term Loan | Liabilities | Earnings | Sukuks | Bonds | Remuneration | Interest | |
| AED’000 | AED’000 | AED’000 | AED’000 | AED’000 | AED’000 | AED’000 | AED’000 | |
| Balance at 1 January 2019 | 27,600 | 183,355 | – | 20,146 | 281,500 | – | 1,064 | 75,888 |
| Changes from financing cashflows | ||||||||
| Repayments of short-term borrowings | (14,500) | – | – | – | – | – | – | – |
| Repayments of medium-term loans | – | (83,352) | – | – | – | – | – | – |
| Proceeds from short term borrowings | 160,000 | – | – | – | – | – | – | – |
| Movement in Tier 1 Sukuk | – | – | – | – | (1,100) | – | – | – |
| Proceeds from Tier 1 Bonds | – | – | – | – | – | 15,000 | – | – |
| Tier 1 Sukuk coupon paid | – | – | – | (21,076) | – | – | – | – |
| Tier 1 Bonds dividend paid | – | – | – | (962) | – | – | – | – |
| Lease liabilities paid | – | – | 8,374 | – | – | – | – | – |
| Cash dividend paid | – | – | – | (8,873) | – | – | – | – |
| Director’s remuneration paid | – | – | – | – | – | – | (1,064) | – |
| ——————– | ————— | —————– | ————- | ————- | ————- | —————– | ————– | |
| Total changes from financing cashflows | 145,500 | (83,352) | 8,374 | (30,911) | (1,100) | 15,000 | (1,064) | – |
| Total equity related other changes | – | – | – | 26,655 | – | – | 1,223 | 11,894 |
| ——————– | ————— | —————- | ————- | ————- | ————- | —————- | ————– | |
| Balance at 31 December 2019 |
173,100 |
100,003 |
8,374 |
15,890 |
280,400 |
15,000 |
1,223 |
87,782 |
