Banking
Credit Card Limit Granted — Off-Balance Sheet
Approving and issuing a JOD 5,000 credit card limit to a qualified customer.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Undrawn Credit Card Commitments (Off-B/S Memo) | Contingent Asset (+) | 5,000.00 | - |
| Credit Card Contingent Liability (Off-B/S) | Contingent Liability (+) | - | 5,000.00 |
💡 Accountant's Note
An undrawn credit card limit is an off-balance-sheet commitment. Under IFRS 9, a Stage 1 ECL provision is required on the undrawn commitment, reflecting the 12-month probability that some of it will be drawn and default.
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