اطلب من شخص ما أن يأخذ رقم الهاتف أثناء وجودك هناك، وخذ القنصل حتى تتمكن من توديعه بأمان. التحدث معه. 4) تقارير الصندوق متاحة عند الطلب مجانا. أدوار ومسؤوليات مجلس إدارة الصندوق مسؤوليات أعضاء مجلس إدارة الصندوق. التأكد من أن مدير الصندوق يفي بالتزاماته بما يحقق مصلحة مالكي الوحدات وفقًا للمعايير المالية الدولية وشروط وأحكام الصندوق.
عقد مجلس إدارة الصندوق ثلاثة اجتماعات.
Names and addresses of Sub-Manager / Investment Adviser
Special commission received by the fund manager during the period
Period for the management of the person registered as fund manager
A disclosure of the expense ratio of each underlying fund at end of year and the weighted average expense
SNB Capital International Trade Fund Annual Report 2021. investment fund due to the custodian's fraud, negligence, misconduct or willful default. In relation to investment funds, the fund operator will be responsible for the operation of the investment fund. The fund operator will be responsible for the process of dividend distribution (if available) to shareholders.
The fund operator must process requests for subscriptions or redemptions according to the fund's Terms and Conditions. SNB CAPITAL INTERNATIONAL TRADE FUND (formerly known as Alahli International Trade Fund). Managed by SNB Capital Company – formerly known as NCB Capital Company). SNB CAPITAL SNB INTERNATIONAL TRADE FUND (FORMERLY KNOWN AS ALAHLI INTERNATIONAL TRADE FUND). Managed by SNB Capital Company - formerly known as NCB Capital Company) STATEMENT OF FINANCIAL POSITION.
SNB CAPITAL INTERNATIONAL TRADE FUND (FORMERLY KNOWN AS IOM ALAHLI INTERNATIONAL TRADE FUND). Managed by SNB Capital Company - formerly known as NCB Capital Company) STATEMENT OF INCOME AND OTHER COMPREHENSIVE INCOME For the year ended 31 December 2021. SNB CAPITAL INTERNATIONAL TRADE FUND (FORMERLY KNOWN AS IOM ALAHLI INTERNATIONAL TRADE FUND). Managed by SNB Capital Company - formerly known as NCB Capital Company) STATEMENT OF CHANGES IN EQUITY ATTRIBUTED TO UNITHOLDERS For the year ended 31 December 2021. SNB CAPITAL INTERNATIONAL TRADE FUND (FORMERLY KNOWN AS IOM ALAHLI INTERNATIONAL TRADE FUND). It is managed by SNB Capital Company - formerly known as NCB Capital Company) STATEMENT OF CASH FLOWS.
SNB CAPITAL INTERNATIONAL TRADE FUND (FORMERLY KNOWN AS ALAHLI INTERNATIONAL TRADE FUND). Managed by SNB Capital Company - formerly known as NCB Capital Company) NOTES TO THE FINANCIAL STATEMENTS. SNB Capital International Trade Fund (formerly known as AlAhli International Trade Fund) ("the Fund") is an open-end Shariah-compliant investment fund managed by SNB Capital Company (formerly known as NCB Capital Company) ("the Fund Manager ") , a subsidiary of The Saudi National Bank (formerly known as National Commercial Bank) ("the Bank"), for the benefit of the Fund's Unitholders.
BASIS OF ACCOUNTING
NCB Capital Company has completed its merger proceedings with Samba Capital & Investment Management Company effective July 9, 2021 and the name has been changed to SNB Capital Company. The fund allows investors to engage in business transactions that comply with Sharia principles, investing in Sukuks and other mutual funds or instruments that comply with Islamic Sharia investment principles. The terms and conditions of the fund were initially approved by the Saudi Central Bank (SAMA) and subsequently approved by the CMA through a letter dated 18 Dhul Hijja 1429H (corresponding to 16 December 2008).
The Fund is subject to the Investment Fund Regulations (the “Regulations”) published by the Capital Market Authority (“CMA”) on 3 Dhul Hijja 1427 H (corresponding to 24 December 2006), subsequently amended on 16 Sha'ban 1437 H ( corresponding to May 23, 2016). The Regulation was further amended (the “Amended Regulations”) on 17 Rajab 1442 H (corresponding to 1 March 2021), detailing requirements for all funds within the Kingdom of Saudi Arabia. The Fund has been established under Article 31 of the Investment Fund Regulations (“the Regulations”) issued by the Capital Market Authority (“CMA”).
BASIS OF MEASUREMENT
FUNCTIONAL AND PRESENTATION CURRENCY
CHANGES IN FUND’S TERMS AND CONDITIONS
CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS The preparation of the financial statements requires management to make judgments, estimates and
The principal accounting policies applied in the preparation of these financial statements are set out below. Cash equivalents include cash at bank and short-term, highly liquid investments that are readily convertible into known amounts of cash and that are subject to an insignificant risk of changes in value. A receivable without a significant financing component is measured initially at the transaction price and subsequently at their amortized cost using the effective commission rate method.
The allowance for losses on receivables is always measured at an amount equal to lifetime expected credit losses. At initial recognition, a financial asset is measured at its fair value and classified at amortized cost, fair value through other comprehensive income (“FVOCI”) or fair value through profit or loss (“FVTPL”).
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 3 Financial assets and liabilities (continued)
Financial assets and financial liabilities at amortized cost are subsequently valued at amortized cost using the effective interest/commission method and are included in the statement of comprehensive income. The Fund removes a financial asset from the balance sheet when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows in a transaction that involves substantially all the risks and rewards of ownership of the financial asset are transferred. or in which the Fund does not transfer or retain substantially all the risks and rewards of ownership and does not retain control over the financial asset. When the financial asset is derecognised, the difference between the carrying amount of the asset (or the carrying amount allocated to the part of the asset that is no longer recognized in the balance sheet) and the consideration received (including any new asset acquired) minus any new obligation). in the overview of the total result.
Any commission on these transferred financial assets that is created or held by the Fund is recognized as a separate asset or liability. The Fund enters into transactions where it transfers assets recognized in the statement of financial position, but retains either all or substantially all the risks and rewards of the transferred assets or a portion thereof. If all or substantially all the risks and rewards are retained, then the transferred assets are not derecognised.
The Fund cancels a financial liability when its contractual obligations are fulfilled or canceled or expires. Financial assets and financial liabilities are offset and the net amount is presented in the statement of financial position when and only when the fund has a legal right to offset the amounts and intends either to settle them on a net basis or to realize the asset and settle their liability simultaneously. A provision is recognized when the fund has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources comprising economic benefits will be required to settle the obligation, and a reliable estimate of the amount can be made. .
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 5 Equity per unit
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 10 Special commission income and expense
SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 13 Standards issued but not yet effective
CASH AND CASH EQUIVALENTS
INVESTMENTS
RECONCILIATION OF CHANGE IN EQUITY
RELATED PARTY TRANSACTIONS AND BALANCES
RELATED PARTY TRANSACTIONS AND BALANCES (CONTINUED) Transactions with related parties
The Fund's activities expose it to a variety of financial risks, including market risk, credit risk, liquidity risk and operational risk. The Fund Board supervises the Fund Manager and is ultimately responsible for the overall management of the Fund. Monitoring and control of risks is mainly set up to be carried out based on the limits set by the Fund Board.
Market risk is the risk that changes in market prices – such as commission rates, exchange rates, share prices and credit spreads – will affect the fund's income or the fair value of its holdings of financial instruments. a) Currency risk. Currently, all the fund's investments are in Murabaha deposits, which have a fixed commission rate. 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. b) Other price risk.
Another price risk is the risk that the value of the fund's financial instruments will fluctuate due to changes in market prices caused by factors other than movements in foreign currencies and fees. Another price risk arises mainly from the uncertainty regarding the future prices of the financial instruments held by the fund. As of the statement of financial position, the fund has no investments with price risk.
FINANCIAL RISK MANAGEMENT (CONTINUED) 1 Financial risk factors (continued)
Liquidity risk is the risk that the Fund may not be able to generate sufficient cash to meet its obligations in full as they fall due, or may only be able to do so on terms that are materially unfavorable. The fund's terms and conditions allow for the subscription and redemption of units on each Saudi Arabian banking day, and it is therefore exposed to the liquidity risk of meeting unitholder redemptions on those days. The Fund Manager monitors liquidity requirements by ensuring that sufficient funds are available to meet any obligations as they arise, either through new subscriptions, liquidation of the investment portfolio or by taking up short-term loan facilities obtained by the Fund Manager.
The contractual and expected term of all obligations outstanding on the balance sheet date is within six months (2020: due within six months). Operational risk is the risk of direct or indirect losses arising from a variety of causes related to the processes, technology and infrastructure that support the Fund's activities, both internal and external to the Fund's service provider, and from other external factors other than credit, liquidity, currency and market. risks, such as those arising from legal and regulatory requirements. The Fund's objective is to manage operational risk to strike a balance between limiting financial losses and damage to its reputation and achieving its investment objective of maximizing returns to unitholders.
The primary responsibility for developing and implementing controls over operational risks rests with the Risk Management Team. However, the Government of the Kingdom of Saudi Arabia (the "Government") has managed to control the outbreak to date, primarily due to the effective measures taken by the Government. However, the fund manager remains aware of both the micro and macroeconomic challenges posed by COVID-19, the effects of which may be felt for some time, and closely monitors its exposures.
EVENTS AFTER THE END OF THE REPORTING PERIOD
APPROVAL OF THE FINANCIAL STATEMENTS
