2.2 Basis of preparation

Basis of preparation

These financial statements are for the year ended 31 December 2019 and are presented in Arab Emirate Dirham (AED), which is the functional and presentational currency of the Company.

The financial statements have been prepared on the historical cost basis, except for the measurement at fair value of certain financial instruments.

As required by the Securities and Commodities Authority (“SCA”) notification dated 12 October 2008, accounting policies relating to investment securities have been disclosed in the financial statements.