NOTES TO FINANCIAL STATEMENT
General and administrative expenses
| (Restated) | ||
|
31 December 2023 |
31 December 2022 |
|
| AED | AED | |
| Salaries and related benefits | 23,675,408 | 23,306,667 |
| Management fees | 6,755,796 | 6,647,973 |
| Government fees | 2,203,771 | 2,528,675 |
| Depreciation of property and equipment | 1,580,328 | 1,364,693 |
| Telephonic and postage | 678,929 | 820,361 |
| Bank charges | 117,583 | 72,648 |
| Other expenses | 6,365,695 | 4,582,041 |
| 41,377,510 | 39,323,058 |
Out of the total balance, the management has considered AED 40,227,524 (31 December 2022: AED 38,407,519) directly attributable expenses to insurance business and accordingly, this has been considered under Insurance services expenses.
