Title: Standard Setting for the Financial Reporting of Religious Business Organisations: the Case of Islamic Banks
Abstract:Abstract Islamic banks have to abide by Islamic principles in all their business transactions. Accounting practices also have to be in conformity with this cardinal rule. Currently almost every Islami...Abstract Islamic banks have to abide by Islamic principles in all their business transactions. Accounting practices also have to be in conformity with this cardinal rule. Currently almost every Islamic bank sets its own accounting policy through a process which involves in-house religious advisers and the financial auditor of the bank. However, Islamic banks have recently agreed to establish a standard setting body to regulate their financial accounting and reporting. This paper argues that one of the predominant factors which seems to have influenced this decision and the institutional arrangements through which accounting standards will be promulgated is Islamic banks' fear of possible future intervention by their regulatory agencies.Read More
Publication Year: 1990
Publication Date: 1990-09-01
Language: en
Type: article
Indexed In: ['crossref']
Access and Citation
Cited By Count: 55
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