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Takaful Shariah Audit Manual - A Proposal

Takāful Sharīʿah Audit Manual: A Proposal Executive Summary Sharīʿah compliance is one of the main factors that many stakeholders are most concerned with when it comes to Islamic financial institutions (IFI’s), and takāful operators (TOs) are no exception. No products,…

Research Paper

A Critique on Accounting for Murabaha Contract: A Comparative Analysis of IFRS and AAOIFI Accounting Standards

Purpose The purpose of this paper is to examine the accounting treatment and reporting of a murabaha contract and its implication to the financial statements of Islamic banks. In addition, the paper also explains the implication of time value of…


Profit Sharing Investment Accounts in Islamic Banks: Classification and Accounting Treatment in the Financial Statements

In the Malaysian context, the recent Islamic Financial Services Act 2013 (IFSA) distinguishes investment accounts from Islamic deposits, whereby an investment account is defined by the application of Sharīʿah contracts having a non-principal guarantee feature for the purpose of investment.…

Research Paper

Shari'ah Non-Compliance Risk In The Banking Sector: Impact On Capital Adequacy Framework Of Islamic Banks

The paper aims to study the nature of Shari'ah Non-Compliance Risk (SNCR) and explore its implications on the capital adequacy of Islamic banks. This paper endevauors to describe an appropriate approach for the application of capital charge for SNCR in…


Accounting Issues in the Reporting of Profit-Sharing Investment Accounts in Islamic Banks’ Financial Statements under IFSA 2013

It examines the different options for the reporting of Profit Sharing Investment Accounts (PSIA) that are based on the muḍarabah contract in Islamic banks’ financial statements–particularly whether they should be recognised as an on- or off-balance sheet item to reflect…

Journal (English)

The Nature of Risk Management Practice of Islamic Banks

Global Islamic Economic Magazine

PSIA In Islamic Banks: Classification And Accounting Treatment In The Financial Statements


Event Papers