Page 125 - Annual Report 2020

/ 120 QF CR A ANNU AL REP OR T 2020

Presented in the statement of financial position as follows: 2020 | USD’000 2019 | USD’000

Current portion 1,726 148

Non-current portion 827 91

2,553 239

The QFC Regulatory Authority recognised rent expense from

short-term leases of USD 1,134 thousands for the year ended

31 December 2020 (31 December 2019: USD 2,052 thousands).

7. Accounts receivable and prepayments

2020 | USD’000 2019 | USD’000 * Effective from 1 January 2017, the QFC Regulatory

Authority resolved to recognise employee end of service
Financial penalties receivable 62,454 54,921
benefit-related liabilities in the financial statements. As

at 31 December 2020, USD 4,840 thousand has been
Less: Loss allowance (Note 16) (6,901) -
recognised as provision for employee end of service
benefits (2019: USD 3,948 thousand). The same amount
55,553 54,921
has been recognised as receivables from the Ministry

of Finance based on a confirmation letter received
from the Ministry to compensate the QFC Regulatory
Amount due from related parties – current (Note 15) 1,021 2,961
Authority for the payment of the end of service benefits.

Interest receivables 247 537

Prepaid expenses 261 485

Other receivables 1,324 140

58,406 59,044

Amount due from related parties classified as follows:

Current portion 1,021 2,961

Non-current portion 4,840 3,803

Amount due from related parties* (Note 15) 5,861 6,764

T ABLE OF C ONTENT S