| Notes forming part of accounts [line items] | | |
| Disclosure of notes and other explanatory information [text block] | | |
| Disclosure of general information about reporting entity [abstract] | | |
| Disclosure of general information about reporting entity [text block] | Bupa Arabia for Cooperative Insurance Company (the “Company”) is a Saudi Joint Stock Companyincorporated in the Kingdom of Saudi Arabia as per the Ministry of Commerce and Investment’s Resolutionnumber 138/K dated 24 Rabi Thani 1429H (corresponding to 1 May 2008). The Commercial Registrationnumber of the Company is 4030178881 dated 5 Jumad Awwal 1429H (corresponding to 11 May 2008). TheRegistered Office of the Company is situated at:Al-Khalediyah District,Prince Saud Al Faisal Street,Front of Saudi Airlines Cargo Building,P.O. Box 23807, Jeddah 21436,Kingdom of Saudi Arabia.The Company is licensed to conduct insurance business in the Kingdom of Saudi Arabia under cooperativeprinciples in accordance with Royal Decree No. M/74 dated 29 Shabaan 1428H (corresponding to 11 September2007) pursuant to the Council of Ministers’ Resolution No 279 dated 28 Shabaan 1428H (corresponding to 10September 2007).The objective of the Company is to transact cooperative insurance operations and related activities in theKingdom of Saudi Arabia in accordance with its articles of association, and applicable regulations in the Kingdomof Saudi Arabia. The Company underwrites medical insurance only.The Board of Directors approves the distribution of the surplus from insurance operations in accordance with theImplementing Regulations issued by the Saudi Arabian Monetary Authority (“SAMA”), whereby theshareholders of the Company are to receive 90% of the annual surplus from insurance operations and thepolicyholders are to receive the remaining 10%. Any deficit arising on insurance operations is transferred to theshareholders’ operations in full. | 1 |
| Disclosure of basis of preparation of financial statements [text block] | The interim condensed financial statements of the Company has been prepared in accordance with ‘InternationalAccounting Standard 34 - Interim Financial Reporting ("IAS 34") as endorsed in the Kingdom of Saudi Arabiaand other standards and pronouncement issued by Saudi Organisation for Certified Public Accountants(“SOCPA”). The financial statements of the Company as at and for the three-months period ended 31 March2019 and year ended 31 December 2018, respectively, were prepared in compliance with IAS 34 and‘International Financial Reporting Standards’ (“IFRS”) respectively, as modified by SAMA for the accountingof zakat and income tax’ (relating to application of IAS 12 - “Income Taxes” and IFRIC 21 - “Levies” so far asthese relate to zakat and income tax).The company has updated its accounting policy to account for zakat and income taxes in the statement of incomebased on the recent instructions issued. This aligns with the IFRS that are endorsed in the Kingdom of SaudiArabia and other pronouncements and standards endorsed by Saudi Organization of Certified Public Accountants(“SOCPA”). Accordingly, the Company changed its accounting treatment for zakat and income tax byretrospectively adjusting the impact in line with International Accounting Standard 8 Accounting Policies,Changes in Accounting Estimates and Errors.The interim condensed financial statements are prepared under the going concern basis and the historical costconvention, except for the measurement of investments at their fair value through statement of income (FVSI)and available-for-sale investments. The Company’s interim condensed statement of financial position ispresented in order of liquidity. Except for available-for-sale investments, fixtures, furniture and Right-of-useassets, intangible assets, goodwill, statutory deposit, accrued income on statutory deposit, provision for end-ofservicebenefits and accrued income payable to SAMA, all other assets and liabilities are of short-term nature,unless, stated otherwise.As required by the Saudi Arabian Insurance Regulations (the Implementation Regulations), the Companymaintains separate books of accounts for “Insurance Operations” and “Shareholders’ Operations”. Accordingly,assets, liabilities, revenues and expenses attributable to either operation, are recorded in the respective accounts.Note 21 to these interim condensed financial statements provides the statement of financial position, statementsof income, comprehensive income and cash flows of the insurance operations and shareholders operations,separately.The interim condensed financial statements do not include all of the information required for full annualfinancial statements and should be read in conjunction with the annual financial statements as of and for the yearended 31 December 2018.The interim condensed financial statements may not be considered indicative of the expected results for the fullyear.These interim condensed financial statements are expressed in Saudi Arabian Riyals (SAR) and are rounded offto the nearest thousand. | 2.A |
| Disclosure of statement of compliance [text block] | As required by the Saudi Arabian Insurance Regulations (the Implementation Regulations), the Companymaintains separate books of accounts for “Insurance Operations” and “Shareholders’ Operations”. Accordingly,assets, liabilities, revenues and expenses attributable to either operation, are recorded in the respective accounts.Note 21 to these interim condensed financial statements provides the statement of financial position, statementsof income, comprehensive income and cash flows of the insurance operations and shareholders operations,separately.The interim condensed financial statements do not include all of the information required for full annualfinancial statements and should be read in conjunction with the annual financial statements as of and for the yearended 31 December 2018.The interim condensed financial statements may not be considered indicative of the expected results for the fullyear.These interim condensed financial statements are expressed in Saudi Arabian Riyals (SAR) and are rounded offto the nearest thousand. | 2.A |
| Disclosure of new standards and amendments in standards [text block] | The following new standards, amendments and revisions to existing standards, which were issued by theInternational Accounting Standards Board (IASB) have been effective from 1 January 2019 and accordinglyadopted by the Company, as applicable:Standard / Amendments DescriptionIFRS 16 Leases (see below)IFRIC 23 Uncertainty over Income Tax TreatmentsIAS 28 Long term interests in associates and joint venturesIAS 19 Plan amendments, curtailments or settlementsIFRS 3,11 and IAS 12, 23 Annual Improvements to IFRS 2015 - 2017 cycle.The adoption of the amended standards and interpretations applicable to the Company except for adoption ofIFRS 16 did not have any significant impact on these interim condensed financial statements.IFRS 16 – LeasesIFRS 16 supersedes IAS 17 Leases, IFRIC 4- Determining Whether an Agreement Contains a Lease. SIC 15Operating Leases-Incentives and SIC-27 Evaluating the Substance of Transactions Involving the Legal Form of alease. The standard sets out the principles for the recognition, measurement, presentation and disclosure of leasesand requires lessees to account for most leases under a single on-balance sheet model. Lessor accounting underIFRS 16 is substantially unchanged from IAS 17. Lessors will continue to classify leases as either operating orfinance leases using similar principles as in IAS 17. Therefore, IFRS 16 did not have an impact for leases wherethe Company is the lessor.The Company adopted IFRS 16 using the modified retrospective method of adoption with the date of initialapplication of 1 January 2019. In accordance with the modified retrospective method of adoption, the Companyapplied IFRS 16 at the date of initial application with transition impact recognized in the retained earnings.Accordingly, the comparative information in these interim condensed financial statements has not been restated.The Company elected to use the transition practical expedient allowing the standard to be applied only tocontracts that were previously identified as leases applying IAS 17 and IFRIC 4 at the date of initial application.The Company also elected to use the recognition exemptions for lease contracts that, at the commencement date,have a lease term of 12 months or less and do not contain a purchase option (‘short-term leases’), and leasecontracts for which the underlying asset is of low value (‘low -value assets’). Upon adoption of IFRS 16, theCompany recognised lease liabilities to make lease payments and Right-of-use assets representing the right to usethe underlying assets.The effect of adopting IFRS 16 as at 1 January 2019 (increase/ (decrease)) is as follows:2019SAR ‘000AssetsRight of use assets 103,196LiabilitiesLease liabilities 112,096EquityRetained earning (8,900)The Company has lease contracts for its office premises. Before the adoption of IFRS 16, the Company classifiedeach of its leases (as lessee) at the inception date as an operating lease. Leases where the lessor retainssubstantially all the risks and benefits of ownership of the asset are classified as operating leases. Operating leasepayments are recognised as an expense in the statement of income on a straight-line basis over the lease term. Anyprepaid rent and accrued rent were recognised under prepaid expenses and other assets and accrued and otherliabilities, respectively.The lease liabilities as at 1 January 2019 can be reconciled to the operating lease commitments as of 31 December2018 as follows:2019SAR ‘000Operating leases commitments as of 31 December 2018 150,363Adjustment to the operating lease commitments (24,150)Total Commitments 126,213Weighted average incremental borrowing rate as at 1 January 2019 5%Discounted operating lease commitments at 1 January 2019 112,096Set out below are the new accounting policies of the Company upon adoption of IFRS 16:Right of use assetsThe Company recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlyingasset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation andimpairment losses, and adjusted for any re-measurement of lease liabilities. The cost of right-of-use assetsincludes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at orbefore the commencement date less any lease incentives received. Unless the Company is reasonably certain toobtain ownership of the leased asset at the end of the lease term, the recognised right-of-use assets are depreciatedon a straight-line basis over the shorter of its estimated useful life and the lease term. Right-of-use assets aresubject to impairment. Right of use assets are included within Fixtures, Furniture and Right of use assets.Lease liabilitiesAt the commencement date of the lease, the Company recognises lease liabilities measured at the present value oflease payments to be made over the lease term. The lease payments include fixed payments (including insubstancefixed payments) less any lease incentives receivable, variable lease payments that depend on an indexor a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include theexercise price of a purchase option reasonably certain to be exercised by the Company and payments of penaltiesfor terminating a lease, if the lease term reflects the Company exercising the option to terminate. The variablelease payments that do not depend on an index or a rate are recognised as expense in the period on which theevent or condition that triggers the payment occurs.In calculating the present value of lease payments, the Company uses the internal cost of funds as the incrementalborrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable.After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest andreduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there isa modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in theassessment to purchase the underlying asset. Lease liabilities are included within the accrued and other liabilities.Where the Company is lesseeAll leases entered into by the Company are operating leases. Payments made under operating leases are charged tothe interim condensed statement of income on a straight-line basis over the period of the lease. When an operatinglease is terminated before the lease period has expired, any payment required to be made to the lessor by way ofpenalty, net of anticipated rental income (if any), is recognised as an expense in the period in which terminationtakes place.Significant judgement in determining the lease term of contracts with renewal optionsThe Company determines the lease term as the non-cancellable term of the lease, together with any periodscovered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by anoption to terminate the lease, if it is reasonably certain not to be exercised.Amounts recognized in the interim condensed statements of financial position and interim condensedstatement of incomeSet out below, are the movement and carrying amounts of the Company’s Right-of-use assets and lease liabilities.The Company present right-of-use assets under Fixtures, Furniture and Right of use assets in the interimcondensed statement of financial position. Lease liabilities are presented under accrued expenses and otherliabilities.Interim condensed statement of financial positionRight of use assets Lease liabilitiesSAR’000 SAR’000As at 1 January 2019 103,196 112,096Amortization of right-of-use assets (7,905) --Finance cost -- 2,712Lease settlement -- (16,462)Aa at 30 June 2019 95,291 98,346 | 3.B |
| Disclosure of issued IFRS not yet adopted [text block] | Standards issued but not yet effective up to the date of issuance of the Company’s interim condensed financialstatements are listed below. The Company intends to adopt these standards when they become effective.Standard/InterpretationDescriptionEffective from periodsbeginning on or after thefollowing dateIFRS 9 Financial Instruments See note belowAmendments to IFRS 3 Definition of business 1 January 2020Amendments to IAS 1 & IAS 8 Definition of material 1 January 2020IFRS 17 Insurance Contracts 1 January 2022IFRS 9 - Financial InstrumentsIn July 2014, the IASB published IFRS 9 Financial Instruments which replaced IAS 39 Financial Instruments:Recognition and Measurement. The standard incorporates new classification and measurement requirements forfinancial assets, introduces an expected credit loss (ECL) impairment model which replaces the incurred lossmodel of IAS 39, and new hedge accounting requirements under IFRS 9: All financial assets will be measured at either amortised cost or fair value. The basis of classification willdepend on the business model and the contractual cash flow characteristics of the financial assets. Thestandard retains most of IAS 39’s requirements for financial liabilities except for those designated at fairvalue through profit or loss whereby that part of the fair value changes attributable to own credit is to berecognised in other comprehensive income instead of the statement of income. IFRS 9 requires entities to record an allowance for ECLs for all loans and other debt financial assets not heldat fair value through statement of income as well as finance lease receivables, together with loancommitments and financial guarantee contracts. The allowance is based on the ECLs associated with theprobability of default in the next twelve months unless there has been a significant increase in credit risksince origination. Under IFRS 9, credit losses are recognised earlier than under IAS 39. The hedge accounting requirements are more closely aligned with risk management practices and follow amore principle based approach.In September 2016, the IASB published amendments to IFRS 4 Insurance Contracts that address the accountingconsequences of the application of IFRS 9 to insurers prior to the publication of the forthcoming accountingstandard for insurance contracts. The amendments introduce two options for insurers: the deferral approach andthe overlay approach. The deferral approach provides an entity, if eligible, with a temporary exemption fromapplying IFRS 9 until the earlier of the effective date of a new insurance contract standard or 2022. The overlayapproach allows an entity to remove from profit or loss the effects of some of the accounting mismatches that mayoccur before the new insurance contracts standard is applied.Under the temporary exemption as introduced by amendments to IFRS 4, the reporting entities whose activitiespredominantly relate to “insurance” can defer the implementation of IFRS 9. The Company having assessed theimplications and has concluded to defer the implementation of IFRS 9 until a later date which will not be laterthan 1 January 2022.The impact of the adoption of IFRS 9 on the Company’s interim condensed financial statements will, to a largeextent, have to take into account the interaction with the forthcoming insurance contracts standard. As such, it isnot possible to fully assess the effect of the adoption of IFRS 9. | 3.C |
| Disclosure of critical accounting judgements, estimates and assumptions, general [text block] | The preparation of interim condensed financial statements requires management to make judgments, estimates andassumptions that affect the application of accounting policies and the reported amounts of assets and liabilities,income and expense. Actual results may differ from these estimates.In preparing these interim condensed financial statements, the significant judgments made by management inapplying the Company’s accounting policies, and the key sources of estimation uncertainty including the riskmanagement policies, were the same as those that applied to the annual financial statements as at and for the yearended 31 December 2018. | 2.B |
| Disclosure of other general disclosures about reporting entity [text block] | Due to the seasonality of operations, operating profits are expected to fluctuate from one period to another. | 2.C |
| Disclosure of summary of significant accounting policies [abstract] | | |
| Disclosure of summary of significant accounting policies, general comment [text block] | The accounting policies, estimates and assumptions used in the preparation of these interim condensed financialstatements are consistent with those used in the preparation of the annual financial statements for the year ended31 December 2018, except for the change in the accounting of zakat and income tax and new IFRS standards,IFRIC interpretations and amendments thereof, adopted by the Company as explained below: | 3 |
| Description of accounting policy for zakat [text block] | As mentioned above, the basis of preparation has been changed for the period ended 30 June 2019 as a result ofthe issuance of latest instructions from SAMA dated 23 July 2019. Previously, zakat and income tax wererecognized in the statement of changes in equity as per the SAMA circular no 381000074519 dated 11 April 2017.With the latest instructions issued by SAMA dated 23 July 2019, the zakat and income tax shall be recognized inthe statement of income. The Company has accounted for this change in the accounting for zakat and income ta xretrospectively. The change has resulted in increase of reported income of the Company for the period ended 30June 2018 by SR 1.1 million. The change has had no impact on the statement of cash flows for the period ended30 June 2018.The accounting policy for zakat and income tax adopted by the Company is as follows:Zakat and Income TaxThe Company is subject to Zakat in accordance with the regulations of the General Authority of Zakat andIncome Tax (“GAZT”). Zakat expense is charged to the profit or loss. Zakat is not accounted for as income taxand as such no deferred tax is calculated relating to zakat.The income tax expense or credit for the period is the tax payable on the current period’s taxable income, basedon the applicable income tax rate for each jurisdiction, adjusted by changes in deferred tax assets and liabilitiesattributable to temporary differences and to unused tax losses.The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at theend of the reporting period in the countries where the Company operate and generate taxable income.Management periodically evaluates positions taken in tax returns with respect to situations in which applicable taxregulation is subject to interpretation. It establishes provisions, where appropriate, on the basis of amountsexpected to be paid to the tax authorities.IFRIC Interpretation 23 Uncertainty over Income Tax TreatmentThe Interpretation addresses the accounting for income taxes when tax treatments involve uncertainty that affectsthe application of IAS 12 Income Taxes. It does not apply to taxes or levies outside the scope of IAS 12, nor doesit specifically include requirements relating to interest and penalties associated with uncertain tax treatments. TheInterpretation specifically addresses the following: Whether an entity considers uncertain tax treatments separately The assumptions an entity makes about the examination of tax treatments by taxation authorities How an entity determines taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates How an entity considers changes in facts and circumstancesAn entity has to determine whether to consider each uncertain tax treatment separately or together with one ormore other uncertain tax treatments. The approach that better predicts the resolution of the uncertainty needs to befollowed.The Company applies significant judgement in identifying uncertainties over income tax treatments.The Interpretation did not have an impact on the interim condensed financial statements of the Company.Deferred TaxDeferred income tax is provided using the liability method on temporary differences arising between the carryingamounts of assets and liabilities for financial reporting purposes and amounts used for taxation purposes. Theamount of deferred tax provided is based on the expected manner of realization or settlement of the carryingamounts of assets and liabilities using the tax rates enacted or substantively enacted at the reporting date. Adeferred tax asset is recognized only to the extent that it is probable that future taxable profits will be availableand the credits can be utilized. Deferred tax asset is reduced to the extent that it is no longer probable that therelated tax benefits will be realized.Deferred tax liabilities and assets are not recognised for temporary differences between the carrying amount andtax bases of investments in foreign operations where the Company is able to control the timing of the reversal ofthe temporary differences and it is probable that the differences will not reverse in the foreseeable future.Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current tax assetsand liabilities and where the deferred tax balances relate to the same taxation authority. Current tax assets and taxliabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a netbasis, or to realise the asset and settle the liability simultaneously. Current and deferred tax i s recognised in profitor loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.Impact on interim financial statementsThe change in the accounting treatment for zakat and income tax has the following impact:As at and for the six months period ended 30 June 2018Financial StatementImpactedAccount Before therestatementEffect ofrestatementAfterrestatementSAR’000 SAR’000 SAR’000Statement of changes inequityProvision for zakat and incometax (retained earnings)(45,134)45,134--Statement of income Zakat and income tax charge -- (44,041) (44,041)Statement of income Earnings per share 1.57 (0.37) 1.20Statement of financialpositionDeferred tax asset -- 20,254 20,254For the three months period ended 30 June 2018Financial StatementImpactedAccount Before therestatementEffect ofrestatementAfterrestatementSAR’000 SAR’000 SAR’000Statement of income Zakat and income tax charge -- (21,474) (21,474)Statement of income Earnings per share 1.49 (0.18) 1.31As at 31 December 2018Financial StatementImpactedAccount Before therestatementEffect ofrestatementAfterrestatementSAR’000 SAR’000 SAR’000Statement of financialpositionDeferred tax asset--25,55225,552Statement of financialpositionRetained earnings811,15325,552836,705As at 1 January 2018Financial StatementImpactedAccount Before therestatementEffect ofrestatementAfterrestatementSAR’000 SAR’000 SAR’000Statement of financialpositionDeferred tax asset--19,16119,161Statement of financialpositionRetained earnings1,030,88719,1611,050,048 | 3.A |
| Disclosure of notes forming part of accounts [abstract] | | |
| Disclosure of investments [text block] | Investments are classified as follows:30 June 2019 (Unaudited) 31 December 2018 (Audited)InsuranceoperationsShareholders’ operations TotalInsuranceoperationsShareholders’operations TotalSAR’000Held as FVSI 312,431 121,692 434,123 249,284 131,110 380,394Available-for-sale 564,556 821,617 1,386,173 560,891 680,206 1,241,097Held to maturity -- 131,250 131,250 -- -- --876,987 1,074,559 1,951,546 810,175 811,316 1,621,491i) Investments held as FVSI comprise of the following:30 June 2019 (Unaudited)Insurance operations Shareholders’ operationsDomestic International Domestic International TotalSR’000Sukuks 30,025 -- 91,079 -- 121,104Funds 282,406 -- 30,613 -- 313,019312,431 -- 121,692 -- 434,12331 December 2018 (Audited)Insurance operations Shareholders’ operationsDomestic International Domestic International TotalSR’000Sukuks 32,025 -- 95,079 -- 127,104Funds 217,259 -- 36,031 -- 253,290249,284 -- 131,110 -- 380,394(ii) Available-for-sale investments comprise of the following:30 June 2019 (Unaudited)Insurance operations Shareholders’ operationsDomestic International Domestic International TotalSR’000Sukuks 236,728 289,458 330,093 209,647 1,065,926Funds -- 38,370 109,983 8,520 156,873Investments in discretionaryportfolios----163,374--163,374236,728 327,828 603,450 218,167 1,386,17331 December 2018 (Audited)Insurance operations Shareholders’ operationsDomestic International Domestic International TotalSR’000Sukuks 241,784 281,828 280,697 186,924 991,233Funds -- 37,279 109,247 10,536 157,062Investments in discretionaryportfolios -- -- 92,802 -- 92,802241,784 319,107 482,746 197,460 1,241,097(iii) Held to maturity investments comprise of the following:30 June 2019 (Unaudited)Insurance operations Shareholders’ operationsDomestic International Domestic International TotalSR’000Sukuks -- -- 131,250 -- 131,250-- -- 131,250 -- 131,250The movements in the investments balance are as follows:30 June 2019 (Unaudited)InsuranceoperationsShareholders’operations TotalSAR‘000Balance at the beginning of the period 810,175 811,316 1,621,491Purchased during the period 510,153 759,584 1,269,737Disposed during the period (465,739) (521,542) (987,281)Unrealized gain during the period, net 22,398 25,201 47,599876,987 1,074,559 1,951,54631 December 2018 (Audited)InsuranceoperationsShareholders’operations TotalSAR‘000Balance at the beginning of the year 820,776 900,914 1,721,690Purchased during the year 1,033,480 794,544 1,828,024Disposed during the year (1,040,322) (865,503) (1,905,825)Unrealized losses during the year, net (3,759) (18,639) (22,398)810,175 811,316 1,621,491 | 6 |
| Disclosure of investments held-to-maturity [text block] | The term deposits are held with reputable commercial banks and financial institutions. These deposits arepredominately in Murabaha structure with a small allocation in Mudaraba structure. They are mostly denominatedin Saudi Arabian Riyals and have an original maturity from more than three months to more than one year andyield financial income at rates ranging from 3.00% to 4.30% per annum. The movements in term Deposits duringthe period ended 30 June 2019 as follows:30 June 2019 (Unaudited)InsuranceoperationsShareholders’operations TotalSAR‘000Balance at the beginning of the period 3,033,743 1,681,538 4,715,281Matured during the period (1,460,575) (993,947) (2,454,522)Placed during the period 1,001,565 760,924 1,762,4892,574,733 1,448,515 4,023,24831 December 2018 (Audited)InsuranceoperationsShareholders’operations TotalSAR‘000Balance at the beginning of the year 2,912,577 1,032,806 3,945,383Matured during the year (3,724,883) (829,977) (4,554,860)Placed during the year 3,846,049 1,478,709 5,324,7583,033,743 1,681,538 4,715,281 | 7 |
| Disclosure of premiums/ contributions and insurance/ reinsurance or takaful/ retakaful balance receivables [text block] | Receivables amounts due from the following:30 June2019(Unaudited)31 December2018(Audited)SAR’000 SAR’000Policyholders 1,556,796 755,292Brokers 741,052 364,610Related parties (note 14) 4,410 --2,302,258 1,119,902Provision for doubtful receivables (238,282) (169,231)Premiums receivable – net 2,063,976 950,671 | 5 |
| Disclosure of cash and cash equivalents [text block] | Cash and cash equivalents comprise of the following:30 June 2019 (Unaudited)InsuranceoperationsShareholders’operations TotalSAR‘000Bank balances 6,896 44,819 51,715Term deposit 324,914 244,567 569,481331,810 289,386 621,19631 December 2018 (Audited)InsuranceoperationsShareholders’operations TotalSAR‘000Bank balances 272,527 17,886 290,413The amount payable to/receivable from shareholders’ operations is settled by transfer of cash at each reportingdate. During the six-months period ended 30 June 2019, the insurance operations transferred cash of SR 92million to the shareholders’ operations (31 December 2018: SR 99 million). | 4 |
| Disclosure of statutory deposit [text block] | As required by SAMA Insurance Regulations, the Company deposited an amount equivalent to 10% of its paid upshare capital, amounting to SR 120 million, in a bank designated by SAMA. Accrued income on this deposit ispayable to SAMA and this deposit cannot be withdrawn without approval from SAMA. | 8 |
| Disclosure of zakat [text block] | Breakup of zakat and income tax charge for the six months period ended 30 June 2019 and 2018 are as follows:Six monthsperiod ended30 June2019(Unaudited)Six monthsperiod ended30 June2018(Unaudited)SAR’000 SAR’000Current zakat charge 24,151 25,287Current tax charge 31,096 19,847Deferred tax income (note a below) (6,609) (1,093)24,487 18,75448,638 44,041a) The reconciliation of deferred tax is as follows:30 June201931 December201830 June2018SAR’000 SAR’000 SAR’000Opening deferred tax asset 25,552 20,254 19,161Recognition of previously recognised losses -- -- --Deferred tax income 6,609 5,298 1,09332,161 25,552 20,254Movements in the Zakat and income tax accrued during the period ended 30 June 2019 and year ended 31December 2018 respectively are as follows:ZakatPayableIncome taxPayableTotal30 June2019(Unaudited)Total31 December2018(Audited)SAR’000 SAR’000 SAR’000 SAR’000Balance at beginning of the year 184,295 15,489 199,784 148,704Provided during the period/year 24,151 31,096 55,247 89,199Payments during the period/year (10,134) (27,517) (37,651) (38,119)Balance at end of the period/year 198,312 19,068 217,380 199,784Status of assessmentsThe Company has filed its zakat and income tax returns for the financial years up to and including the year 2018with the General Authority of Zakat and Tax (the “GAZT”).The Company has received assessments for the fiscal periods 2008 through 2010 raising additional demandsaggregating to SR 9 million, principally on account of disallowance of FVSI investments and statutory depositsfrom the zakat base. The Company has filed appeals against these assessments with the GAZT.For the years 2011 and 2012, the Company has received Preliminary Objection Committee’s decisions in favourof the GAZT for the additional zakat liability of SR 17 million and has filed an appeal with the Higher AppealCommittee.The Company has received final assessments for the fiscal years 2013 through 2016 of additional zakat, corporateincome tax and withholding tax as well as delay fines on the assessed additional corporate income tax andwithholding tax. The differences have mainly arisen due to disallowance of investments and statutory depositsfrom the zakat base as well as not taking into consideration the tax and zakat already settled along with the tax /zakat declarations for the respective years. The Company has filed appeals against these assessments with theGAZT.The Company is also awaiting GAZT’s decision on additional submissions of 2014 relating to the treatment of thestatutory deposit and the cooperative distribution for the fiscal periods 2008 through 2013. | 15 |
| Disclosure of income tax [text block] | Breakup of zakat and income tax charge for the six months period ended 30 June 2019 and 2018 are as follows:Six monthsperiod ended30 June2019(Unaudited)Six monthsperiod ended30 June2018(Unaudited)SAR’000 SAR’000Current zakat charge 24,151 25,287Current tax charge 31,096 19,847Deferred tax income (note a below) (6,609) (1,093)24,487 18,75448,638 44,041a) The reconciliation of deferred tax is as follows:30 June201931 December201830 June2018SAR’000 SAR’000 SAR’000Opening deferred tax asset 25,552 20,254 19,161Recognition of previously recognised losses -- -- --Deferred tax income 6,609 5,298 1,09332,161 25,552 20,254Movements in the Zakat and income tax accrued during the period ended 30 June 2019 and year ended 31December 2018 respectively are as follows:ZakatPayableIncome taxPayableTotal30 June2019(Unaudited)Total31 December2018(Audited)SAR’000 SAR’000 SAR’000 SAR’000Balance at beginning of the year 184,295 15,489 199,784 148,704Provided during the period/year 24,151 31,096 55,247 89,199Payments during the period/year (10,134) (27,517) (37,651) (38,119)Balance at end of the period/year 198,312 19,068 217,380 199,784Status of assessmentsThe Company has filed its zakat and income tax returns for the financial years up to and including the year 2018with the General Authority of Zakat and Tax (the “GAZT”).The Company has received assessments for the fiscal periods 2008 through 2010 raising additional demandsaggregating to SR 9 million, principally on account of disallowance of FVSI investments and statutory depositsfrom the zakat base. The Company has filed appeals against these assessments with the GAZT.For the years 2011 and 2012, the Company has received Preliminary Objection Committee’s decisions in favourof the GAZT for the additional zakat liability of SR 17 million and has filed an appeal with the Higher AppealCommittee.The Company has received final assessments for the fiscal years 2013 through 2016 of additional zakat, corporateincome tax and withholding tax as well as delay fines on the assessed additional corporate income tax andwithholding tax. The differences have mainly arisen due to disallowance of investments and statutory depositsfrom the zakat base as well as not taking into consideration the tax and zakat already settled along with the tax /zakat declarations for the respective years. The Company has filed appeals against these assessments with theGAZT.The Company is also awaiting GAZT’s decision on additional submissions of 2014 relating to the treatment of thestatutory deposit and the cooperative distribution for the fiscal periods 2008 through 2013. | 15 |
| Disclosure of classes of share capital [text block] | The authorised, issued and paid up capital of the Company was SAR 1,200 million at 30 June 2019 (31 December2018: SAR 1,200 million) consisting of 120 million shares (31 December 2018: 120 million shares) of SAR 10each.Shareholding structure of the Company is as below:30 June 2019 (Unaudited) 31 December 2018 (Audited)HoldingpercentageSR‘000HoldingpercentageSR‘000Major shareholders 52.3% 628,066 52.3% 628,066General Public 47.7% 571,934 47.7% 571,934100.0% 1,200,000 100.0% 1,200,000 | 16 |
| Disclosure of statutory reserve [text block] | As required by the Saudi Arabian Insurance Regulations, 20% of the shareholders’ income shall be set aside as astatutory reserve until this reserve amounts to 100% of the paid-up share capital. The Company makes thistransfer on an annual basis at 31 December. As at 30 June 2019, SR 609.11 million (31 December 2018: SR609.11 million) had been set aside as a statutory reserve, representing 51% (31 December 2018: 51%) of the paidupshare capital. | 17 |
| Disclosure of technical reserve for insurance/takaful/reinsurance/retakaful operations [text block] | 9.1 Movement in unearned premiumsMovements in unearned premiums are as follows:Six months ended 30 June 2019 (Unaudited)Gross Reinsurance NetSAR‘000Balance at 1 January 2019 3,428,131 (6,320) 3,421,811Premium written/(ceded) during the period 5,344,249 (51,117) 5,293,132Premium earned during the period (4,524,947) 42,866 (4,482,081)4,247,433 (14,571) 4,232,862Year ended 31 December 2018 (Audited)Gross Reinsurance NetSAR‘000Balance at 1 January 2018 3,091,079 (5,146) 3,085,933Premium written/(ceded) during the year 8,566,648 (80,528) 8,486,120Premium earned during the year (8,229,596) 79,354 (8,150,242)3,428,131 (6,320) 3,421,8119.2 Net outstanding claims and reservesNet outstanding claims and other technical reserves comprise of the following:30 June2019(Unaudited)31 December2018(Audited)SAR’000 SAR’000Outstanding claims 587,657 555,158Claims incurred but not reported 801,306 898,123Claims handling reserves 18,525 19,4001,407,488 1,472,681Less:- Reinsurers’ share of outstanding claims (460) (336)- Reinsurers’ share of claims incurred but not reported (2,719) (2,678)(3,179) (3,014)Net outstanding claims and reserves 1,404,309 1,469,667 | 9 |
| Disclosure of earnings per share [text block] | The basic and diluted earnings per share have been calculated by dividing net income for the period by the weighted average number of ordinary shares issued and outstanding at the periodend.Diluted earnings per share are not applicable to the Company.Basic and diluted earnings per share has also been revised due to change in accounting policy for the presentation of Zakat a nd income tax as explained in note 3(a) to these interimcondensed financial statements. | 20 |
| Disclosure of related party transactions [text block] | Related parties represent major shareholders, directors and key management personnel of the Company, andcompanies of which they are principal owners and any other entities controlled, jointly controlled or significantlyinfluenced by them. Pricing policies and terms of these transactions are approved by the Company’s managementand Board of Directors. The following are the details of the major related party transactions during the period andtheir related balances:Related partyNature oftransactionAmount of transactionsfor the period endedReceivable/(payable)balance as at30 June2019(Unaudited)SR’00030 June2018(Unaudited)SR’00030 June2019(Unaudited)SR’00031 December2018(Audited)SR’000Shareholders Insurance premiumwritten 218,731 10,542 4,410(498)**Shareholders ReinsurancePremium ceded 16,988 12,603 (38,568)*(23,242)*Shareholders Claims paid 75,334 4,683 (8,353) (2,784)***Shareholders Medical costscharged byproviders 34,106 14,586 (3,752)(110)***Shareholders Expenses chargedto/from a relatedparty - net 338 461 (283)*(41)*Shareholders Tax equalisation - net 6,131 6,131 9,119* 2,988*Shareholders Board members fees 450 400 (450)* (258)*Bupa MiddleEast HoldingsTwo W.L.L.(Related party)Trade mark fee 11,294 9,857 (11,294)*(20,542)** Amounts due to related parties amounted to SR 41,476 thousand (2018: SR 41,095 thousand).** Amounts included in premium receivables.*** Amounts are included in the outstanding claims.The remuneration of the key management personnel during the period ended 30 June is as follows:30 June2019(Unaudited)30 June2018(Unaudited)SAR’000 SAR’000Short-term benefits 12,461 12,816Long-term benefits 2,794 3,76315,255 16,579Short-term benefits include salaries, allowances, annual bonuses and incentives whilst long-term benefits includeemployees’ end of service benefits and the LTIP. | 14 |
| Disclosure of entity's operating segments [text block] | The Company only issues short-term insurance contracts for providing health care services (‘medical insurance’).All the insurance operations of the Company are carried out in the Kingdom of Saudi Arabia. For managementreporting purposes, the operations are monitored in two customer categories, based on the number of memberscovered. Major customers represent members of large corporations, and all others are considered as non-major.Operating segments are reported in a manner consistent with internal reporting provided to the Chief ExecutiveTeam, who is responsible for allocating resources and assessing the performance of operating segments in linewith the strategic decisions.Operating segments do not include shareholders’ operations of the Company.Segment results do not include investment and commission income, other income, selling and marketing expensesand general and administration expenses.Segment assets do not include cash and cash equivalents, term deposits, investments, and prepayments and otherassets. Segment liabilities do not include reinsurance balance payable, accrued expe nses and other liabilities, dueto shareholders’ operations, share based payment and policyholders’ share of surplus from insurance operations.Consistent with the Company’s internal reporting, operating segments have been approved by the management inrespect of the Company’s activities, assets and liabilities as stated below:As at 30 June 2019 (Unaudited)Insurance operationsOperating segmentsMajorcustomersNon-majorcustomersTotalInsuranceoperationsShareholders’ operationsTotalSAR’000 SAR’000 SAR’000AssetsPremiums receivable - net 1,212,527 851,449 2,063,976 -- 2,063,976Reinsurers’ share of unearnedpremiums5,6838,88814,571--14,571Reinsurers’ share of outstandingclaims41941460--460Reinsurers’ share of claimsincurred but not reported2,4742452,719--2,719Deferred policy acquisition costs 81,469 52,087 133,556 -- 133,556Unallocated assets 3,982,700 3,344,370 7,327,070Total assets 6,197,982 3,344,370 9,542,352LiabilitiesUnearned premiums2,403,9261,843,5074,247,433--4,247,433Outstanding claims 376,100 211,557 587,657 -- 587,657Claims incurred but not reported 512,836 288,470 801,306 -- 801,306Claims handling reserve 11,856 6,669 18,525 -- 18,525Unallocated liabilities 534,031 457,232 991,263Total liabilities 6,188,952 457,232 6,646,184Three months’ period ended 30 June 2019(Unaudited)Operating segmentsMajorcustomersNon-majorcustomersTotalSAR’000REVENUESGross written premium 1,465,709 973,093 2,438,802Reinsurance premiums ceded – Local (1,842) (753) (2,595)Reinsurance premiums ceded – International (19,776) (8,078) (27,854)Net premiums written 1,444,091 964,262 2,408,353Changes in unearned premiums – net 41,098 (164,695) (123,597)Net premiums earned 1,485,189 799,567 2,284,756UNDERWRITING COSTS AND EXPENSESGross claims paid (1,258,959) (592,452) (1,851,411)Reinsurers’ share of claims paid 8,465 3,983 12,448Net claims paid (1,250,494) (588,469) (1,838,963)Changes in outstanding claims (40,336) (22,689) (63,025)Changes in claims incurred but not reported 76,315 42,927 119,242Changes in claims handling reserves 336 189 525Reinsurance share of changes in outstanding claims 141 15 156Reinsurance share of changes in claims incurred but notreported45550Net claims incurred (1,213,993) (568,022) (1,782,015)Policy acquisition costs (32,139) (21,337) (53,476)TOTAL UNDERWRITING COSTS AND EXPENSES (1,246,132) (589,359) (1,835,491)NET UNDERWRITING INCOME 239,057 210,208 449,265OTHER OPERATING (EXPENSES)/ INCOMEAllowance for doubtful receivables (84,090)Unallocated income 66,927Unallocated expenses (195,595)TOTAL OTHER OPERATING (EXPENSES)/INCOME(212,758)Income before Surplus, Zakat & Income Tax 236,507Income attributed to insurance operations (transferto surplus payable)(20,433)Income attributed to the shareholders before zakatand income tax216,074Zakat charge (13,125)Income tax charge (16,923)NET INCOME ATTRIBUTABLE TO THE SHAREHOLDERSAFTER ZAKAT AND INCOME TAX186,026Gross Written Premium details Three months periodended 30 June 2019SAR’000Corporates 1,710,264Medium Enterprises 525,020Small Enterprises 186,779Micro Enterprises 13,635Individuals 3,104Total Gross Written Premium 2,438,802Six months’ period ended 30 June 2019(Unaudited)Operating segmentsMajorcustomersNon-majorcustomersTotalSAR’000REVENUESGross written premium 3,254,945 2,089,304 5,344,249Reinsurance premiums ceded – Local (3,613) (1,477) (5,090)Reinsurance premiums ceded – International (32,681) (13,346) (46,027)Net premiums written 3,218,651 2,074,481 5,293,132Changes in unearned premiums – net (312,766) (498,285) (811,051)Net premiums earned 2,905,885 1,576,196 4,482,081UNDERWRITING COSTS AND EXPENSESGross claims paid (2,563,758) (1,219,534) (3,783,292)Reinsurers’ share of claims paid 16,873 8,024 24,897Net claims paid (2,546,885) (1,211,510) (3,758,395)Changes in outstanding claims (20,799) (11,700) (32,499)Changes in claims incurred but not reported 61,963 34,854 96,817Changes in claims handling reserves 560 315 875Reinsurance share of changes in outstanding claims 113 11 124Reinsurance share of changes in claims incurred but notreported37441Net claims incurred (2,505,011) (1,188,026) (3,693,037)Policy acquisition costs (67,194) (44,163) (111,357)TOTAL UNDERWRITING COSTS AND EXPENSES (2,572,205) (1,232,189) (3,804,394)NET UNDERWRITING INCOME 333,680 344,007 677,687OTHER OPERATING (EXPENSES)/ INCOMEAllowance for doubtful receivables (73,051)Unallocated income 129,543Unallocated expenses (396,209)TOTAL OTHER OPERATING(EXPENSES)/INCOME(339,717)Income before Surplus, Zakat & Income Tax 337,970Income attributed to insurance operations(transfer to surplus payable)(27,773)Income attributed to the shareholders before zakatand income tax310,197 Zakat charge (24,151)Income tax charge (24,487)NET INCOME ATTRIBUTED TO THE SHAREHOLDERSAFTER ZAKAT AND INCOME TAX261,559Gross Written Premium details Six months periodended 30 June 2019SAR’000Corporates 3,826,506Medium Enterprises 1,100,047Small Enterprises 380,787Micro Enterprises 30,176Individuals 6,733Total Gross Written Premium 5,344,249 | 13 |
| Disclosure of capital management [text block] | Objectives are set by the Board of Directors of the Company to maintain healthy capital ratios to support itsbusiness objectives and maximise shareholders’ value.The Company manages its capital requirements by assessing shortfalls between reported and required capitallevels on a regular basis. Adjustments to current capital levels are made in light of changes in market conditionsand the risk characteristics of the Company’s activities. To maintain or adjust the capital structure, the Companymay adjust the amount of dividends paid to shareholders or issue shares.In the opinion of the Board of Directors, the Company has fully complied with the regulatory capital requirementsduring the reported financial period. | 19 |
| Disclosure of equity incentive plan [text block] | The Company offers a Long-Term Incentive Plan (LTIP) to certain eligible executives. The purpose of the schemeis to incentivise the senior management team to achieve the Company’s long-term goals and to attract and retaintop performers. The plan provides focus on both current and future performance and enables the participants toshare in the Company’s success, and is measured based on net profit growth and profit margin. The plan vestsover a period of a three years performance cycle. The Company's actual performance is assessed at the end ofeach year during the vesting period.The LTIP scheme is an entirely equity-settled share based scheme under which the approved participants willreceive Bupa Arabia shares after the completion of each three year performance period, the achievement of theperformance measures, the achievement of the participant’s conditions, and the completion of the requiredapprovals. The LTIP scheme is supervised by the Nomination and Remuneration Committee (N&RC) after beingapproved by the Board of Directors.The cost of the plan is recognised over the period in which the service condition is fulfilled, ending on the date onwhich the relevant employees become fully entitled to the plan ('the vesting date'). The expense, recogni sed forthe plan at each reporting date until the vesting date, reflects the Company's best estimate of the number of equityinstruments that will ultimately vest. The charge or credit for a year represents the movement in cumulativeexpense recognised as at the beginning and end of that year.The total LTIP expense recognised for employees' services received is included in ‘salaries and employee relatedexpenses’ with a corresponding increase in the statement of changes in equity, as per the requirements of IFRS 2‘Share Based Payments’. Any dividend distributions on the award shares during the vesting period areaccumulated and transferred to the participants upon vesting.The Company has a practice to reflect the grant date as the date of completion of the total LTIP shares purchasesfor the relevant cycle each year and to retain the LTIP shares with an investment broker, currently NCB Capital.The LTIP transaction details are provided below:Month/PeriodNumber of sharespurchased /(delivered/disposed) – netThe grant datefair value of thesharesAmount30 June 2019SR’000July 2015 32,110 277 8,901November 2015 18,993 221 4,200December 2015(1) 51,103 - --March 2016 92,669 115 10,693March 2016 (2,814) 139 (390)March 2017 (34,346) 139 (4,761)March 2017 (6,825) 115 (788)June 2017 96,491 115 11,061March 2018 (10,210) 139 (1,416)May 2018 (37,986) 111 (4,200)June 2018(2) (15,378) 139 (2,132)September 2018(3) 121,816 94 11,494November 2018(4) 152,811 - --March 2019(5) (44,867) 77 (3,451)June 2019(5) (57,406) 77 (4,416)Total 356,161 24,795 1) During December 2015 the Company issued Bonus shares, one per each issued share, and as a resultreceived an additional 51,103 LTIP shares.2) The 2015-2017 LTIP Scheme’s shares have been fully delivered to all entitled executives following theapproval of the Board Nomination and Remuneration Committee.3) The LTIP Scheme shares purchase value for the 2018-2020 cycle was formally approved by the shareholdersin the General Assembly meeting of 31 May 2018 and these LTIP shares purchases were partially completedon 12 June 2018, at an average purchase price per share of SAR 97, and the remaining required LTIP sharespurchases for this cycle were completed on 4 September 2018, at an average purchase price per share of SAR90.4) During November 2018, the Company issued Bonus shares, one for every two issued share, and as a resultreceived an additional 152,811 LTIP shares.5) The 2016-2018 LTIP Scheme’s shares have been delivered to the entitled executives following the approval ofthe Board Nomination and Remuneration Committee. | 18 |
| Disclosure of commitments and contingencies, general [text block] | a) The Company’s commitments and contingencies are as follows:30 June2019(Unaudited)31 December2018(Audited)SAR’000 SAR’000Letters of guarantee* 19,371 26,346Operating commitments (note 3.b) -- 150,363Total 19,371 176,709b) The Company is subject to legal proceedings in the ordinary course of business. There was no materialchange in the status of legal proceedings from 31 December 2018.* As of 30 June 2019, total Letters of Guarantee issued by banks amounted to SR 84.18 million, of which SR19.37 million (2018: SR 26.35 million) is restricted deposits with banks and has been recorded underprepayments and other assets. | 11 |
| Disclosure of fair value of financial assets and liabilities [text block] | Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transactionbetween market participants at the measurement date. The fair value measurement is based on the presumptionthat the transaction takes place either:- in the accessible principal market for the asset or liability, or- in the absence of a principal market, in the most advantageous accessible market for the asset orliability.a) Determination of fair value and fair value hierarchyThe Company uses the following hierarchy for determining and disclosing the fair value of financial instruments:Level 1: quoted prices in active markets for the same or identical instrument that an entity can access at themeasurement date;Level 2: quoted prices in active markets for similar assets and liabilities or other valuation techniques for whichall significant inputs are based on observable market data; andLevel 3: valuation techniques for which any significant input is not based on observable market data.b) Carrying amounts and fair valueThe following table shows the carrying amount and fair value of financial assets and financial liabilities, includingtheir levels in the fair value hierarchy for financial instruments measured at fair value. It does not include fairvalue information for financial assets and financial liabilities not measured at fair value if the carrying amount is areasonable approximation to fair value.Fair valueLevel 1 Level 2 Level 3 TotalCarryingvalueSAR’000 SAR’000 SAR’00030 June 2019 (Unaudited)Financial assets measured at fairvalue- Investments held as FVSI 14,698 419,425 -- 434,123 434,123- Available for sale investments 957,228 428,945 -- 1,386,173 1,386,173971,926 848,370 -- 1,820,296 1,820,296Fair valueLevel 1 Level 2 Level 3 TotalCarryingvalueSAR’000 SAR’000 SAR’00031 December 2018 (Audited)Financial assets measured at fairvalue- Investments held as FVSI 16,021 364,373 -- 380,394 380,394- Available for sale investments 842,262 398,835 -- 1,241,097 1,241,097858,283 763,208 -- 1,621,491 1,621,491c) Measurement of fair valueValuation technique and significant unobservable inputsThe following table shows the valuation techniques used in measuring Level 2 fair value at 30 June 2019 and 31December 2018, as well as the significant unobservable inputs used.Type Valuation techniqueSignificantunobservable inputsInter-relationship betweensignificant unobservableinputs and fair valuemeasurementFloating ratesukuks and mutualfundsValuations are based onquotations as received bythe custodians at the end ofeach period and onpublished net asset value(NAV) closing prices. | 12 |
| Disclosure of comparative figures [text block] | Certain comparative figures have been reclassified and regrouped to conform with the current period’spresentation.The amounts “due to/from” shareholders and insurance operations which were previously reported separately inthe respective interim condensed statement of financial position, are now eliminated. In addition the 90/10 split ofthe surplus from insurance operations between shareholders and insurance operations are presented separately inthe supplementary information (refer to note 21 above). | 22 |
| Disclosure of board of director's approval of the financial statements [text block] | The interim condensed financial statements have been approved by the Board of Directors, on 5 Dhul Hijjahcorresponding to 6 August 2019. | 23 |
| Disclosure of other notes relevant to understanding of financial statements [text block] | FIDUCIARY ASSETSDuring 2018 after getting the approval from SAMA, the Company entered into a Third Party Administrationagreement, (TPA) with a customer under which the Company facilitates healthcare services to the employees of acustomer with specific terms and conditions. The services are remunerated against administration fees. Theagreement is effective from 13 Jumada Al-Thani 1439 (corresponding to 1 March 2018).In order to fulfil the commitment relating to this agreement, the Company has received funds in advance from thecustomer to settle anticipated claims from medical service providers. As the Company acts as an agent, therelevant bank balance and outstanding claims at the balance sheet date are offset in the interim condensedstatement of financial position. The assets and liabilities held in fiduciary capacity amounted to SR 134.5 millionas of 30 June 2019 (2018: SR 194.8 million). | 10 |
