23 Interest Receivable and other Assets

		2020		2019
		AED’000		AED’000
Accounts receivable *		46,188		34,653
Less: impairment allowance		(1,233)		(1,233)
		————————		————————
		44,955		33,420
Prepayments		27,663		29,418
Interest receivable and profit receivable		13,790		17,659
Advance for investments		5,352		5,352
Other assets		21,089		21,683
		————————		————————
		112,849		107,532
		=============		=============

 

* In 2017, the Company has entered into a sale and purchase agreement with Infosec Ventures INC (Infosec) and Paramount Computer Systems FZ LLC in respect of the sale of the Company’s share in Paramount Computer System. Accounts receivable includes an amount of AED 15,600 thousand (2019: AED 16,300 thousand) receivable from Infosec. It was agreed that payments will be made over 5 years in equal instalments commencing one year after the date of signing the agreement (i.e. AED 3,900 thousand each year).