شاف أو أخذ أي زيوت ف مثل القانون واستشرنا (* شاف أو أخذ خادم إجمالي العائد السنوي للصندوق آخر 10 سنوات::. تونس الأسباب لتونس ككل 201 1. يتكون مجلس الإدارة من الأعضاء التالية أسماؤهم، المعينين من قبل مدير الصندوق والمعتمدين من قبل هيئة أسواق المال.
The fund outperformed the benchmark by 18 bps. V ﺭﺎﻤﺜ&ﺳﻻﺍ The fund does not invest in other investment funds. ﺼﻟﺍ. The Fund Manager acknowledges that the responsibilities vested in the custodian do not include ensuring that the fund manager complies with the content of subparagraphs (a,b,c) of paragraph (d-3) of appendix 5 of the Investment Fund Regulations.
AlAhli Saudi Riyal Trade Fund (the “Fund”) is an open-end Shariah Compliant Investment Fund managed by NCB Capital Company (the “Fund Manager”), a subsidiary of The National Commercial Bank (“the Bank”), for the benefit of Unitholders assets of the fund. The Fund is established in accordance with Article 30 of the Regulations on Investment Funds ("Regulations") issued by the Capital Markets Authority ("CMA"). The terms and conditions of the fund were initially approved by Saud Central Bank (“SAMA”) and subsequently approved by the CMA in its letter dated 18 Dhul Hijja 1429H (corresponding to 16 December 2008).
The fund is subject to the rules according to resolution number dated 3 Dhul Hijja 1427H (corresponding to 24 December 2006) as amended by resolution no.
BASIS OF ACCOUNTING
The Fund offers investors the opportunity to participate in commercial transactions that confirm the Shariah principles, invest in Sukuk and other mutual funds or instruments that comply with Islamic Shariah investment principles.
BASIS OF MEASUREMENT
FUNCTIONAL AND PRESENTATION CURRENCY
CHANGES IN FUND’S TERMS AND CONDITIONS
CRITICAL ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS
CRITICAL ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS (continued)
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 3 Financial assets and liabilities
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 3 Financial assets and liabilities (continued)
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 3Financial assets and liabilities (continued)
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 3 Financial assets and liabilities (continued)
SIGNIFICANT ACCOUNTING POLICIES (continued) 7 Taxation / zakat
SIGNIFICANT ACCOUNTING POLICIES (continued) 12 Standards issued but not yet effective
CASH AND CASH EQUIVALENT
INVESTMENTS - AMORTISED COST
RECONCILIATION OF CHANGE IN EQUITY
RELATED PARTY TRANSACTIONS AND BALANCES
RELATED PARTY TRANSACTIONS AND BALANCES (CONTINUED) Transactions with related parties
RELATED PARTY TRANSACTIONS AND BALANCES (continued) Transactions with related parties (continued)
RELATED PARTY TRANSACTIONS AND BALANCES (continued)
FINANCIAL RISK MANAGEMENT 1 Financial risk factors
Market risk is the risk that changes in market prices – such as commission rates, exchange rates, stock prices and credit spreads – will affect the Fund's income or the fair value of its positions in financial instruments. a) Exchange rate risk. Currency risk is the risk that the value of future cash flows of a financial instrument will fluctuate due to changes in exchange rates and arises from financial instruments denominated in foreign currencies. The Fund does not incur any currency risk as all transactions are carried out in SAR.
Commission rate risk is the risk that the value of a financial instrument's future cash flows or the fair value of financial instruments with a fixed coupon will fluctuate as a result of changes in market commission rates. Currently, all the fund's investments are in Murabaha deposits, which have a fixed rate of return. As these investments are classified as investments measured at amortized cost, any changes in market interest rates will have no impact on the fund's net income and net asset value.
Credit risk is the risk that one party to a financial instrument will fail to meet an obligation and cause the other party to suffer a financial loss. The Fund Manager seeks to manage credit risk by monitoring credit exposures, limiting transactions with specific counterparties and continuously evaluating the creditworthiness of counterparties. As at the statement of financial position date, the Fund's maximum exposure to credit risk is represented by the carrying amount of cash and cash equivalents, which represents cash at bank with a local Bank with Moody's credit rating of A3 and investments measured at amortized cost. a) The General Approach under Expected Credit Loss (ECL).
The Fund recognizes impairment losses for ECL on financial assets that are debt instruments that are not measured under FVTPL. The Fund considers a debt security to have low credit risk if its credit risk rating is equivalent to the generally understood definition of "investment grade". The 12-month ECL is the part of the ECL arising from default events of the financial instrument that are possible within 12 months after the reporting date.
The Fund also considers the forward-looking information in its assessment of the significant deterioration in credit risk since inception, as well as in measuring expected credit losses.
Lifetime
Lifetime
The Fund Manager also assesses the credit concentration of the investment portfolio based on the geographical location of the counterparties. Since the Fund has all investments in Saudi Arabia, the Fund is not exposed to credit risk due to its geographical diversification. The following table explains the changes in the provision for losses of Murabaha contracts measured at amortized cost:
12-month
- FINANCIAL RISK MANAGEMENT (continued) 1 Financial risk factors (continued)
- LAST VALUATION DAY
- EVENTS AFTER THE END OF THE REPORTING PERIOD
- APPROVAL OF THE FINANCIAL STATEMENTS
Operational risk is the risk of direct or indirect loss arising from a variety of causes related to the processes, technology and infrastructure that support the Fund's activities either internally or externally at the Fund's service provider and from external factors other than credit, liquidity , currency and market risks such as those arising from the legal and regulatory requirements. The Fund's objective is to manage operational risk to balance the limitation of financial losses and damage to its reputation with the achievement of its investment objective of generating returns to unitholders. The primary responsibility for the development and implementation of control over operational risks rests with the Risk Management Team.
This responsibility is supported by the development of the general standard for operational risk management, which includes controls and processes at service providers and the establishment of service levels with service providers, in the following areas:
