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Notes to the Financial Statements
 

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  FINANCIAL STATMENTS  
 
 
       
 

 

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Jordan Mortgage Refinance Company
Public Shareholding Company
Balance Sheet as at December 31, 2009

(In Jordanian Dinars)

_____________________________

 
Note
2008
2009
Assets      
Cash & Cash equivalents
3

2,015,695

9,627,179

Refinance loans
4

248,506,873

188,117,650

Employees' housing loans  

179,322

308,507

Available for sale investments  

87,500

81,250

Interest receivable  

3,006,253

2,217,675

Other current assets
5

53,773

41,138

Property and equipment, net
6

504,234

496,745

Total Assets  

254,353,650

200,890,144

Liabilities and  Equity      
Bonds
7

222,250,000

169,750,000

Government’s loan
8

8,558,993

7,688,167

Central Bank of Jordan loan
9

10,454,957

10,990,450

Accrued interest  

4,559,075

3,040,735

Other current liabilities
10

861,979

892,068

Total Liabilities  

246,685,004

192,361,420

Equity

11
    

Paid – in capital

 

5,000,000

5,000,000

Statutory reserve
 

702,834

900,730

Voluntary reserve
 

1,240,702

1,438,598

Fair value adjustments  
( 37,500)

( 43,750)

Retained Earnings

 

762,610

1,233,146

Total Equity
 

7,668,646

8,528,724

Total Liabilities and Shareholders’ Equity
 

254,353,650

200,890,144

"The attached notes from (1) to (24) from an integral part of these financial statements"