Technical Analysis of the International Financial Reporting Standard 9

Samir Alamad
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Samir Alamad: Al Rayan Bank

Chapter Chapter 9 in Financial and Accounting Principles in Islamic Finance, 2019, pp 209-231 from Springer

Abstract: Abstract This chapter aims to examine the International Financial Reporting Standard 9 (IFRS 9) from a technical perspective in light of the most common and widely used financing instruments that are equity-based and sale-based in the Islamic finance industry. As part of this technical analysis of IFRS 9, I identify some contractual clauses that are embedded in equity-based and sale-based financial products, such as the home finance products as well as inter-banking treasury products and analyse whether cash flows are compliant with the requirements of IFRS 9. The analysis provided here outlines a blue-print that would serve as a guide for the Islamic finance industry. This framework will help all Islamic financial institutions (IFIs) tailor any accounting or reporting standards, such as IFRS 9 to reflect their Shariah governance and requirements while still complying with that standard.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-16299-3_9

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DOI: 10.1007/978-3-030-16299-3_9

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