GENE Part 9.3 GENE Part 9.3 Accounting standards
Editorial changes (as from 1st January 2016).
GENE 9.3.3 Guidance
AAOIFI FAS 18 sets out the accounting rules for conventional financial institutions offering Islamic financial services. It provides rules for the recognition, measurement and presentation of assets managed, funds held and income earned on the basis of Shari'a principles. It also sets out the necessary disclosures required to be made in the course of conducting Islamic financial business.
Amended by QFCRA RM/2015-3 (as from 1st January 2016).