In the Name of Allah, The Most Gracious, The Most Merciful

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3 In the Name of Allah, The Most Gracious, The Most Merciful (And say, go on doing (as you like), Allah will surely keep an eye on your deeds and so will his messenger and the believers) Verse 105 (Surat Al-Tawbah)

4 The Vision We look forward to be at the forefront of banks operating in Sudan to achieve excellence in development and social welfare, and to promote confidence in our dealings internally and externally. The Mission To achieve pioneering in Islamic banking by talent developing of the human being, contributing in achieving the economical and social development, and to provide integrated solutions that satisfy concerned stakeholders. Our Values Our values derived from our faith, traditions and culture: trustiness, honesty and transparency. 4

5 Contents: No. Subject Page 1 Directory of HQs, branches and the subsidiary company geographical spread of branches Board of Directors Sharia a Supervisory Board Executive Management Economic Developments in Chairman Board of Director s address before the 25th Shareholders General Assembly 13 8 Financial Indictors ( ) General auditors reports Statement of Financial position as at 31/12/ Income Statement for the year Ended 31/12/ Statement of Cash flows for the year Ended 31/12/ Statement of Changes in owners equity for the year Ended 31/12/ Notes on Financial Statements Sharia a Supervisory Board s report Resolutions of the 25st Shareholders General Assembly Correspondents Network

6 Directory Of The Head Quarter And Branches Head Quarters Addresses: Elsayed Abdurrahman St. Eastern Khartoum- Sudan Tel: ( ) Fax: ( ) Swift: (isbssdkh) P.O Box: 10036, Khartoum- Sudan Postal Code: Website: Operating Branches Branch Tel Fax Tower ( ) ( ) Khartoum ( ) ( ) Alsouque Alarabi (Kh) ( ) ( ) Industrial Area (Kh) ( ) ( ) Saggana ( ) ( ) Alsouque Almahali ( ) ( ) Elkalakla ( ) ( ) Omdurman ( ) ( ) Souque Shabi Om ( ) ( ) Souque Libya ( ) ( ) Indus. Area (Kh. North) ( ) ( ) Souque «6» ( ) ( ) International University of Africa ( ) ( ) Gedarif ( ) ( ) Dongola ( ) ( ) Port- Sudan ( ) ( ) Wad Medani ( ) ( ) Kosti ( ) ( ) Alhafeer ( ) ( ) Alobaid ( ) ( ) Subsidiary Companies: Modern International Co. Khartoum block no.6 property no.4 third floor west to waha of khartoum Tel: ( ) Fax: ( ) P.O. Box:

7 A map showing geographical spread of branches Alhafeer Dongola Port Sudan Khartoum Alobaid Wad Madani Kosti Gadarif Operatig Branches in Khartoum State Tower Khartoum Al Souque Alarabi Industrial Area (kh) Saggana Al Souque Almahali Alkalakla Industrial Area (kh. North) Omdurman Souque shabi (Om). Souque Lybia Souque «6» International University of Africa 7

8 Board of Directors Chairman of the Board of Directors Mr. Al Bagir Yusuf Mudawi 8

9 Board Members: 2- Mr. Ahmed Ali Ahmed Alhussain. 3- Mr. Bader El Dien Salih Abdul Rady. 4- Mr. Abdullah Idrees Fadul Idrees. 5- Mr. Suleiman Mohamed Ahmed Mohamed 6- Dr. Abdul Rahiem Mohamed Bakhiet 7- Eng. Ibrahim Musa Al- Khalifa. 8- Mr. Mohamed Yahiya Mohamed El Jaldi 9- Mr. Ali saeed Ahmed kambal. 10- Mr. Mahmood Salah Rashid. Secretary of the Board of Directors Mr. Mohamed Bushra Khalafalla Sharia Supervisory Board: 1- Dr. Mohammed Alfatih Hamid Chairman 2- Dr. Ahmed Ibrahim Hamad Alturabi Member 3- Dr. Abdel Wahid Osman Mustafa Member 4- Mr. Mohamed Kamal Eldien Abd Elmajid Reporter Legal Advisor: Mr. Mutasim Hassan Mahgoob. Legal Auditor: Messrs: the National Audit Chamber 9

10 Executive Management General Manager Mr. Hassan Mohamed Al-Hassan El-amien 10

11 Deputy General Manager Mr. Abdulbaqi Dafa Allah El-amien General Manager s Assistants Mr. Abdullah Noureddin Ahmed Mohamed G M A For administration, Researches and planning Mr. Kamal El-Sheikh Al-Tayeb Mohamed G M A For Investment, banking affairs and IT 11

12 Managers of Departments: 1- Mr. Hassan Mahmood Ahmed Abd El-Ghafar Legal Affairs 2- Mr. Ghazi Abdel Hay Bin Oaf Abd El-rahiem Investment & Finance 3- Mr. Salah Said Ahmed Bandi Executive Office 4- Mr. Ahmed Abdel Hay Mohamed Ahmed Banking Affairs & Branches 5- Mr. Ali Hassan Hammad El-Hussain Human Resources 6- Mr. Satti Mohammed Satti Hamad Ziyada Information Technology 7- Mr. Mutasim Abdel Aziz Fagier Ahmed Internal Control and Inspection 8- Mr. Osama Ali Ibrahim El-Sadiq Financial Affairs 9- Mr. Mohamed Al-Hussain Ahmed Ja al Administrative Affairs 10- Mr. Salaheldien Hassan Ahmed Khalid Training &Quality Control 11- Mr. Osama Eltyeb Elfaki Osman External Relation & Foreign Currency 12- Mr. Badr Mohamed Al-Jack Al-Abbas Planning & Research 13- Mr. Khalid Mohamed Adam Mohamed Marketing & Public Relations 14- Dr. Abdu Ajlan Babikir Salama Risk Department 15- Mr. Mubarak Mamoon Abd Al-Samad Compliance Officer Branches Managers 1- Mr. A arif Mohamed Bashir Ali Khartoum 2- Mr. Kamal Abd Allah Mohamed Abd El-Qadir Saggana 3- Mr. Hider Abd El-Wadood Mohamed Khartoum Industrial Area 4- Mr. Osman Sa ied Haj Noor Tower 5- Mr. Abd El-wahab Mohamed Abd El-Kariem Souque Libya 6- Mr. Abd El-Moniem Ibrahim Al-Sheikh Babikir Indus. Area (Kh. North). 7- Mr. Mutawakil Ahmed Mohamed Ahmed Suhaib Port Sudan 8- Mr. Sir Al-Khatim Hassan Sir Al-Khatim El-Kalakla 9- Mr. Osama Mohamed Said Ahmed Alsouque Alarabi (Kh). 10- Mr. Salah Mustafa Mohamed Abd El-Kariem Omdurman 11- Mr. Salah Eldien Ibrahim Sheikh Ibrahim Gedarif 12- Mr. Ibrahim Elhaj Ibrahim Arabi Kosti 13- Mr. Mohamed Ahmed Mohamed El-Sheikh Alternate branch manager 14- Mr. Mamoon Mohamed karar Osman International University of Africa 15- Mr. Adam yagoob Omer Souque Shabi Om. 16- Mr. Nazar Mohammed Alzain Abdulrahman Alobaid 17- Mr. Jamal Hassan Osman Salw Wad Maddani 18- Mr. Ali Idris Ali Alsouque Almahali 19- Mr Haisar Mahmoud Hussein Ismail Souque Mr. Abd El-Haliem Bashier Haroon Bashier Dongola 21- Mr. Waz Eldeen Ibraheem Abdulrahman Alhafeer 12

13 Economic Developments In 2014 World Economy: Growth Rate: The real output rate for developed countries reached 1.8% by the end of the year 2014 compared with 1.4% for the year It is expected to increase to the rate 2.3% for the year The real output rate for low income countries increased from 6.1% by the end of the year 2013 to 6.3% in the year It is expected to increase to 6.6% by the end of the year %1.4 %1.8 % Growth Rate ( ) Inflation Rate: The inflation rate increased in the developed countries from 1.4% in 2013 to 1.6% by the end of the year 2014 and is expected to increased to 1.8% by the end of the year 2015;the low income countries maintained the same rate of the year 2013 which is 5.7% it is expected to increase to 5.9% by the end of the year %1.4 %1.6 % Inflation Rate ( ) 13

14 Unemployment: The unemployment rate in developed countries decreased from 7.9% in the year 2013 to 7.3% in the year 2014 it is expected to decreased to 7.1% by the end of the year The Domestic Economy: Growth Rate: GDP increased from 2.2% in 2013 to 2.7% by the end of year 2014 and it is expected to increase to 6.3% by the end of Inflation rate: The inflation rate decreased from 41.9% by the end of year 2013 to 28.2% in October 2014, it is expected to decreased to 25.9% by the end of year The Money Supply: By the end of October 2014 the money supply reached 76,495m.SDG compared with 66,446m.SDG by the end of the year 2013 with increase percentage of 15%. The Developments in the Banking Environments: Deposits of the Sudanese Banking System: The deposits of banks in local currency rose from 32,348m.SDG in 2013 to 39,251m.SDG by the end of October 2014 with an increase percentage of 21%. The foreign currencies deposits increased from 12,186m.SDG in year 2013 to 13,959m.SDG by the end October 2014 with an increase percentage of 14% The Banking Financing: The balance of banking financing rose from 37,657m.SDG in year 2013 to 46,942m.SDG in October 2014 with growth percentage mounted 25%. In the sphere of total banking financing distribution by sectors, the agriculture registered the highest percentage of 15.9%, the industrial sector 14.1%, constructions 12%, local trade 8.8%, transportation 8.2% and other sectors were of 41%. The Average of Murabaha Profits Margins: The average of Murabaha profits margins reached 11.9% while applied murabaha margin in the banks fluctuated between 6% and 30% and musharkat percentage between 10% up to 90% References: 1 / World Economic Outlook.IMF (oct 2014) 2 / Central Bank of Sudan, Economic newsletter. 3 / The Periodic Journal of Central Bank of Sudan. 14

15 The Address of Mr./ Chairman of Board of Directors before THE 25 th general assembly of shareholders for the financial year ending on 31/December/ 2014 The praise to Allah the Lord of the universes, peace and blessings be upon our Mr./ Mohamed (PBUH) chosen prophet, upon his family, kind and immaculate companions and whom walked their pursuit way and traces. The generous brothers/ Al-shamal Islamic Bank shareholders. The virtuous brothers/ The representatives of the Central Bank of Sudan. The virtuous brother/ Khartoum Stock Exchange Market. The virtuous brother/ The representative of the Auditor General of Sudan. The virtuous brother/commercial register general of Sudan Dear brothers / The Board of Directors members. The virtuous brothers/ The members of Sharia a Supervisory Board. Messrs./ The honorable gests. The dear brothers / The staff of the bank. Peace upon you, Mercy and Blessings of Allah. On behalf of Messrs. the members of board of directors, it gratifies me to greet you in this blessed evening on the honor of convention of your 25 th general assembly, to be all acquainted with the performance of the bank through the year ended on 31/12/2014. Dear brothers: I can not fail in this regard and from this platform to salute dear brothers, preceded us in founding this bank as a real addition to the Sudanese banking system, and they gave it their best to endure, mercy to those who died, and those stayed we ask god to sorry them and gave them long life as a mission holders. Dear brothers: To preserve the right of those who contributed to the incorporation of the bank in 23 July 1985 and be patient to support it in most difficult condition, so it is necessary for us to celebrate the silver jubilee anniversary for the bank in the first half of the year We will give admission to all the people of virtue to celebrate this occasion by honoring and documenting their journey in leading this bank in sha allah. Dear brothers: I would like to elaborate, the financial statements, which are distinctive for it is characterized by performance of the best through all lapsed five years. I would like to launch this address with report of the Preventive control requirements according to (CAEL) indicators issued from the Central Bank of Sudan which rated your bank performance on 31December 2014, revealed general rating as satisfactory. The indicators of Preventive Control it includes: 1- Capital: Strong. 2- Assets: Fair. 3- Revenues: Strong. 4- Liquidity: satisfactory. Indicator C A E L Composite rating Rating rating Satisfactory The bank has the following share in Sudanese banking market: Financing: 2.13%. Share holder equity: 1.24%. Total deposit: 2.01%. Total assets: 1.78%. 15

16 The virtuous brothers: The above mentioned report reveals the extent of performance improvement your bank has been accomplished during the year In this instance I would like to mark to the positive consequences achieved as follows: 1/ The deposits increased with 18%. 2/ The total financing rose with 9%. 3/ The revenues increased with percentage of 22%. 4/ Total assets rose with 22%. 5/ The ownership equities rose to 13%. The generous brothers: These gracious results came as consequences of considerable efforts exerted sympathetically to the clear goals aimed to magnification shareholders equities and all stakeholders; which it takes in to account the opportunities and challenges, we strive for the accomplishment of the following:. 1/ Enhancing and developing human capabilities. 2/ To present excellent banking services and products and to upgrade it accordance to quality requirements. 3/ Innovation of new banking products and services which are consider attractive and varied. 4/ Development of local and foreign resources and to recruit it as idealistic allocation. 5/ Rehabilitation of branches buildings to present a distinct banking service in an attractive banking environment and convoyed to development. Dear brothers: We set a strategic plan from 2013 to 2017, in our vision for the upcoming years to induct an honorable position in the Sudanese banking system, here our promise to you to achieve continuation and positive growth by permission of Exalted be Allah with the rates that consent your ambition. Honorable brothers: Your bank approved a geographical spread plan to open new three branches two of them are in the state of Khartoum (Khartoum 2 branch, souque Bahri branch) and the third branch in kasala town, these branches will commence its activities during the year 2015, so the number of bank branches will reach 23 branch. Honorable brothers: Serving of society is one of priorities of the bank since it has been established so it is concerned to subsidies many society segments in different fields like education, health and worship places. The granted support magnitude mounted 993,129 SDG through past year of 2014 in addition to financing of social nature including micro-financing. Dear brother: Finally, I would like to convey the greetings, appreciation, thanks and esteem of the board of directors to: - All bank shareholders for their continuous supports. - Central Bank of Sudan for its prominent role in the success. - The executive administrative apparatus for its crucial impact in execution of the bank policies. - All the bank staff with their different positions efforts influx and devotion that enabled the bank to achieve these boosting results and the distinctive position. - The Sharia a Supervisory Board which exerted a valuable efforts. - The National Audit Chamber. - The Deposits insurance Fund. - liquidity management fund. - All our honorable customers who pumped prominent support to the bank. Their proposals and views were of significant impact on improvement and make better for the bank and its products and services. Peace be upon you, mercy and blessing of Allah. Albagir Yusuf Mudawi Chief of the Board of Directors 16

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41 Resolutions of the 25 th Shareholders General Assembly held on / Approval of the board of directors report and audited financial statements, legal auditor report and sharia a supervisory board s report for the year ended 31 st December / Authorization of the board of directors to appoint the legal auditor and specify his fees for the year Mohamed Bushra Khalafalla Secretary of the Board of Directors 41

42 Correspondents Network 1/ Abu Dhabi Islamic Bank- Abu Dhabi. 2/ Masherq Bank PSC- Dubai. 3/ Arab Bank for Investment & Trade- Abu Dhabi. 4/ Al Nilein Bank- Abu Dhabi. 5/ British Arab Commercial Bank. 6/ Al Baraka Turkish Finance House- Istanbul. 7/ Banque De Commerce ET De Placements S.A. 8/ Bank Credit Dnepr. 9/ Qatar Islamic Bank Doha 10/ Arab Banking Corporation B.S.C. 11/ Arab Investment Company Manama. 12/ Bahrain Islamic Bank. 13/ Saba Islamic Bank- Sana a. 14/ Omdurman National Bank. 15/ Bank of Beirut- Beirut. 16/ Banque Libano-Francaise Beirut. 17/ Faisal Islamic Of Egypt Cairo. 18/ Arab Banking Corporation Egypt- Cairo. 19/ Al Rajhi Banking & Investment Corp. 20/ The National Commercial Bank. 21/ Send Exchange- Abu Dhabi. 22/ International Development Exchange- Dubai 23/ Arabian Exchange- Dubai 42