12 Interest Receivable and other Assets
Interest receivable and other assets
|Accounts receivable *||40,381||44,400|
|Re-insurance contract assets||42,434||11,727|
|Interest receivable and profit receivable||20,786||33,167|
|Advance for investments||5,352||4,302|
* 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 19,500 thousand (2017: AED 19,500 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).
(i) No impairment charge or impairment reversals recognised at the end of the reporting periods ended 31 December 2018 and 2017, respectively.