18 Cash and cash equivalents
Cash and cash equivalents
| 2021 | 2020 | |
| AED’000 | AED’000 | |
| Cash balances | ||
| Cash on hand | 8,096 | 6,717 |
| ————————- | ————————- | |
| Due from banks with original maturities of less | ||
| than three months | ||
| Placements with banks | 65,245 | 166,063 |
| Call accounts | 267,184 | 192,005 |
| Current and demand accounts | 105,614 | 110,893 |
| Balance with UAE Central Bank | 149,748 | 26,550 |
| Restricted cash balances* | 6,000 | 6,000 |
| ————————- | ————————- | |
| 593,791 | 501,511 | |
| ————————- | ————————- | |
| 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 | (26,720) | (54,577) |
| Other restricted cash balances* | (6,000) | (6,000) |
| ————————- | ————————- | |
| Net cash and cash equivalents | 569,167 | 446,607 |
| ============= | ============= |
*Restricted cash represents deposits with Insurance Authority amounting to AED 6,000 thousand (2020: AED 6,000 thousand).
Reconciliation of movement of liabilities to cash flows 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 2021 | 298,160 | 25,000 | 3,461 | 19,324 | 279,850 | 15,000 | 1,957 | 93,582 |
| Changes from financing cash flows | ||||||||
| Repayments of short-term borrowings | – | – | – | – | – | – | – | – |
| Repayments of medium-term loans | – | (25,000) | – | – | – | – | – | – |
| Proceeds from short term borrowings | 143,750 | – | – | – | – | – | – | – |
| Proceeds from medium term borrowings | – | 100,000 | – | – | – | – | – | – |
| Movement in Tier 1 Sukuk | – | – | – | – | (3,650) | – | – | – |
| Proceeds from Tier 1 Bonds | – | – | – | – | – | – | – | – |
| Tier 1 Sukuk coupon paid | – | – | – | (17,008) | – | – | – | – |
| Tier 1 Bonds dividend paid | – | – | – | (1,238) | – | – | – | – |
| Lease liabilities paid | – | – | (2,356) | – | – | – | – | – |
| Cash dividend paid | – | – | – | (5,749) | – | – | – | – |
| Director’s remuneration paid | –
———– |
–
———– |
–
———– |
–
———– |
–
———– |
–
———– |
(1,957)
———– |
–
———– |
| Total changes from financing cash flows | 143,750 | 75,000 | (2,356) | (23,995) | (3,650) | – | (1,957) | – |
| Total equity related other changes | – | – | – | 7,050 | – | – | 2,251 | 11,118 |
| ———– | ———– | ———– | ———– | ———– | ———– | ———– | ———– | |
| Balance at 31 December 2021 | 441,910 | 100,000 | 1,105 | 2,379 | 276,200 | 15,000 | 2,251 | 14,700 |
| ========= | ========= | ========= | ========= | ========= | ========= | ========= | ========= |
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 |
| ========= | ========= | ========= | ========= | ========= | ========= | ========= | ========= |
