NET ISLAMIC FINANCING AND OTHER RECEIVABLES
Current Period
2024
2023
2022
2021
Comparative Period
2023
2022
2021
2020
Financing Receivables Summary
2024
2023
Islamic Financing Receivables
SAR 82,543,000,000
SAR 78,542,000,000
Unearned Finance Income
SAR 1,245,000,000
SAR 1,180,000,000
Allowance for ECL
SAR (3,125,800,000)
SAR (2,945,800,000)
Net Total
SAR 80,662,200,000
SAR 76,776,200,000
Receivables Classification
Classification
2024
2023
Performing
SAR 74,321,000,000
SAR 70,245,000,000
Non-performing
SAR 8,222,000,000
SAR 8,297,000,000
Expected Credit Loss Allowance Movement
Movement Item
2024
2023
Opening Balance
SAR 2,945,800,000
SAR 2,812,500,000
Write-offs
SAR (278,300,000)
SAR (245,200,000)
Recoveries
SAR 45,200,000
SAR 38,500,000
Charges
SAR 413,100,000
SAR 340,000,000
Closing Balance
SAR 3,125,800,000
SAR 2,945,800,000
Stage-wise ECL Analysis
Credit Loss Allowance
Gross Carrying Amount
2024
2023
Change
2024
2023
Change
Stage 1
Stage 2
Stage 3
Stage 1
Stage 2
Stage 3
Opening Balance
SAR 1,180,500,000
SAR 866,700,000
SAR 898,600,000
SAR 37,200,000,000
SAR 22,180,000,000
SAR 12,400,000,000
Transfers between Stages
SAR (64,700,000)
SAR 36,400,000
SAR 28,300,000
SAR (1,250,000,000)
SAR 640,000,000
SAR 610,000,000
Write-offs
SAR (45,200,000)
SAR (78,500,000)
SAR (154,600,000)
SAR (1,200,000,000)
SAR (800,000,000)
SAR (1,278,300,000)
Closing Balance
SAR 1,245,200,000
SAR 824,600,000
SAR 1,056,000,000
SAR 38,450,000,000
SAR 22,020,000,000
SAR 11,731,000,000
This report has been prepared in accordance with Islamic Shariah principles and guidelines. All financing activities and transactions reflected in this report comply with the standards set forth by the Shariah Supervisory Board. The Expected Credit Loss calculations and disclosures are conducted in a manner consistent with both IFRS 9 requirements and Islamic finance principles.