IBANK 2.1.1 Introduction

(1) This Chapter sets out the prudential reporting requirements for an Islamic banking business firm.
(2) Prudential returns of an Islamic banking business firm must reflect the firm's management accounts, financial statements and ancillary reports. A firm's returns, accounts, statements and reports must all be prepared using the same standards and practices, and must be easily reconcilable with one another.
(3) A return is referred to as a solo return if it reflects 1 firm's accounts, statements and reports.
(4) A consolidated return deals with the accounts, statements and reports of a firm consolidated with those of the other members of its financial group.

Note Financial group is defined in rule 9.1.2(2) and is used for consolidated reporting instead of 'corporate group'.
Derived from QFCRA RM/2015-2 (as from 1st January 2016).