Significant accounting policies
The unit of account is the Sudanese pound. ·
The Bank follows the historical cost and accounting accrual principle in recording its assets.
Liabilities and expenses.
2. Revenue recognition:
Revenue is calculated on all financing formulas and income from banking services
Islamic standards for financing formulas.
3. Return on holders of unrestricted investment deposits:
The return on the holders of the unrestricted investment deposit accounts is calculated based on the basis on which they are made
Agreement between the management of the bank and the Shari'a Supervisory Board.
4. Transactions and balances in foreign currencies:
Transactions arising in foreign currencies are translated into Sudanese pounds at the declared exchange rates
The date on which such transactions occurred and the differences in prices resulting from the receipt and settlement of transactions are established
In foreign currencies as income or expense in the income statement for the current period.
Assets and liabilities denominated in foreign currencies are retranslated at the balance sheet date
To Sudanese pounds at the exchange rates declared by the Bank at the balance sheet date.
5. Transactions with related parties:
The Bank has transactions with related parties in transactions with certain Board members
Management and their subsidiaries and subsidiaries of the Bank.
6. Fixed assets:
Fixed assets appear at cost, maintenance costs and routine repairs carry
If incurred, the Bank follows the straight-line method in depreciating its assets
Acquired for use in accordance with the following percentages: