Page 83 - English

11. Commitments
2015 USD ‘000
2014 USD ‘000
Rental commitments:
Minimum lease rental payable under non-cancellable commitments
Within one year
1,997
1,073
After one year but not more than five years
2,934
92
4,931
1,165
Other non-cancellable commitments
Within one year
792
471
After one year but not more than five years
328
213
1,120
684
12. Related party disclosures
Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over the other party in making financial and operating decisions. Related parties include other Qatar Financial Centre bodies, associated government departments and ministries, directors and key management personnel of the Regulatory Authority, and bodies of which they are principal owners. Pricing policies and terms of these transactions are approved by The Regulatory Authority’s management.
Related party balances
Balances with related parties are as follows:
Amount due from
Amount due to
2015 USD ‘000
2014 USD ‘000
2015 USD ‘000
2014 USD ‘000
Qatar Financial Centre Authority
-
-
191
-
Qatar Central Bank
32
-
-
-
Related party transactions
The significant related party transactions are as follows:
2015 USD ‘000
2014 USD ‘000
Appropriations from Government
37,023
22,039
Services from Qatar Financial Centre Authority
1,863
1,662
Services and expenses paid on behalf of related parties
208
-
Compensation of key management personnel
Key management personnel include Board of Directors, Chief Executive Officer, Managing Directors, Chief Operating Officer, Chief Financial Officer and Chief Administrative Officer. Key management personnel remuneration includes the following expenses:
2015 USD ‘000
2014 USD ‘000
Short-term benefits
5,053
4,602
81