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| Author: | Karim, R. |
| Title: | The nature and rationale of a conceptual framework for financial reporting by Islamic banks |
| Journal: | Accounting and Business Research
1995 : AUTUMN, VOL. 25:100, p. 285-300 |
| Index terms: | ACCOUNTING ISLAM BANKING |
| Language: | eng |
| Abstract: | Islamic banks have to abide by the revealed doctrines in Islam in conducting their business and financial transactions. They employ in-house religious advisers - often referred to as Shari's Supervisory Board (SSB) - who issue a special report to inform users of financial statements whether or not the bank has adhered to the Islamic principles. Recently, a private standard-setting body - the Financial Accounting Organization for Islamic Banks and Financial Institutions (FAOIBFI) - has been set up to externally regulate the financial reporting by Islamic banks. |
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