23 Interest Receivable and other Assets

		2021		2020
		AED’000		AED’000
Accounts receivable *		41,262		46,188
Less: impairment allowance		(1,433)		(1,233)
		————————-		————————-
		39,829		44,955
Prepayments		19,336		27,663
Interest receivable and profit receivable		13,854		13,790
Advance for investments		–		5,352
Other assets		23,363		21,089
		————————-		————————-
		96,382		112,849
		=============		=============

 

* 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 9,700 thousand (2020: AED 15,600 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).