21 Commitments and Contingent Liabilities

The Group has contractual amounts in respect of letters of credit and letters of guarantees that commits to extend credit to customers. These agreements have fixed limits and are generally for a certain period of time.

Capital commitments represent future capital expenditures that the Group has committed to spend on assets over a period of time.

Irrevocable commitments to extend credit represent contractual irrevocable commitments to make loans and revolving credits.


The Group had the following commitments and contingent liabilities outstanding at year end:

  2017 2016
AED’000 AED’000
Letters of credit 218,437 161,195
Letters of guarantee 1,509,750 1,438,541
Capital commitments 4,200 24
Irrevocable commitments to extend credit 218,074 370,121