The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, announced that it has submitted its comments on 17th August 2022 to the Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI) on the Exposure Draft of Governance Standard “Syndicated Financing”.
The Exposure Draft (ED) has been issued in February 2022 and is open for public consultation until August 2022.
CIBAFI provided its comments to the Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI) on the Exposure Drafts (EDs) on “Accounting for Takaful: Recognition and Measurement”, the Revised Financial Accounting Standard (FAS) 12: “Presentation and Disclosures in the Financial Statements of Takaful Institutions”, and the Revised FAS 18: “Financial Reporting for Islamic Financial Services Offered by Conventional Financial Institutions”.
In its comments, CIBAFI thanked the AAOIFI for giving the opportunity to the Islamic financial services industry to comment on the EDs and provided collective feedback of its member institutions from over 34 jurisdictions.
CIBAFI Comments on Presentation and Disclosures in the Financial Statements of Takaful Institutions
CIBAFI Comments on Accounting for Takaful Recognition and Measurement
CIBAFI provided its comments to the Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI) on its the Revised Financial Accounting Standard (FAS) 1: “General Presentation and Disclosures in the Financial Statements of Islamic Banks and Financial Institutions”.
In its submission, CIBAFI thanked the AAOIFI for giving the opportunity to the Islamic financial services industry stakeholders to comment on the standard. CIBAFI has provided collective feedback of its member banks from over 34 jurisdictions.
CIBAFI submitted its comments on 28th June 2018 to the Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI) on its Exposure Draft on the Revised Financial Accounting Standard No. 25: “Investments in Sukuk, shares and similar instruments”.
The Exposure Draft was issued on 30th May 2018 and is open for public consultation until 30th June 2018.
CIBAFI thanked the AAOIFI for giving the opportunity to the Islamic Financial Services Industry to comment on the Exposure Draft and provided collective feedback of its member institutions from over 33 jurisdictions.
CIBAFI provided its comments to the Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI) on its Exposure Draft on Governance Standard for Islamic Financial Institutions No. 10: “Shariah Compliance and Fiduciary Ratings for Islamic Financial Institutions”.
In its submission, CIBAFI thanked the AAOIFI for giving the opportunity to the Islamic financial services industry stakeholders to comment on the standard. CIBAFI has provided collective feedback of its member banks from over 32 jurisdictions.
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