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Alizz Islamic Bank SAOG UNAUDITED INTERIM CONDENSED FINANCIAL STATEMENTS 30 September 2018Alizz Islamic Bank SAOG INTERIM CONDENSED STATEMENT OF FINANCIAL POSITION As at 30 September 2018 Notes(Unaudited)
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Due to banks refers to the various obligations or liabilities that a company or individual has towards financial institutions, typically involving borrowed funds or other financial services.
Businesses or individuals that have a financial relationship with banks, such as loans, lines of credit, or other financial products, are required to file due to banks.
To fill out due to banks, one must provide detailed information about outstanding debts, loan agreements, interest rates, payment schedules, and any other relevant financial information regarding their liabilities to the banks.
The purpose of due to banks is to report and document financial liabilities owed to banks, ensuring transparency and compliance within financial reporting and taxation.
The information that must be reported includes the total amount of debt, loan terms, interest rates, payment history, and any collateral linked to the debt.
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