Islamic Financial Instruments: Accounting of Debt-Based Contracts

Samir Alamad
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Samir Alamad: Al Rayan Bank

Chapter Chapter 7 in Financial and Accounting Principles in Islamic Finance, 2019, pp 167-174 from Springer

Abstract: Abstract This Chapter discusses the accounting and financial accounting treatment of debt-based Islamic financial instruments. The debt-based instruments category includes the Islamic finance principles of Qard (interest-free/benevolent loan), Amanah (trust deposit) and Wadi’a (safe custody deposit). This chapter builds on the influencing theories and the Islamic worldview about money and accounting that I discussed in earlier chapters to formulate the practical aspects of the Islamic accounting system. In that respect I analyse here the accounting treatment and financial reporting of the third category of the Islamic finance principles; the debt-based financial instruments in Islamic finance and its reporting requirements.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-16299-3_7

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DOI: 10.1007/978-3-030-16299-3_7

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