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Press release by the PSE: AMB's disclosure of preliminary financials of 2007.

2008-02-13

Palestine securities exchange received the preliminary revised financial statements from the internal auditors of Alrafah Microfinance Bank, as of December 31, 2007. This disclosure came within the applied disclosures system, which grants every listed company a month and a half as utmost period for disclosing the preliminary financial results of 2007. It is revealed by the in formations presented by the AMB that, it had been disclosed using the electronic reporting standard, and a signed paper copy of the internal audited preliminary financials in English language was sent to be verified from the board of directors parallel with another copy that had been sent to the CMA and PSE. Also the annual report of the AMB will be published in April, 2008 as maximum date. As for the general assembly meeting, it is suggested to be also held in April 30, 2008 to discuss these financial results. This preliminary financials were published on the PSE website as soon as it released by the AMB. AMB"s financial results pointed out to net income of $ 1,016,461 to the year 2007 versus a loss of $ 142,962 in 2006. Total assets amounted $ 91,849,729 in 2007 after amounting $ 42,706,513 in the year 2006. It is also noticed that the total liabilities had soared to amount $ 62,933,142 versus $ 15,915,094  in the same period of 2006. Shareholders" equity raised in 2007 to $ 28,916,587 after it had amounted $ 26,791,419 in 2006.

 


 

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