Applying IFRS9 with sukuk by IFRS’s compliant firms
Author
Source
International Journal of Islamic Economics and Finance Studies
Issue
Vol. 6, Issue 3 (30 Nov. 2020), pp.318-338, 21 p.
Publisher
Centre of Political Economical and Social Research
Publication Date
2020-11-30
Country of Publication
Turkey
No. of Pages
21
Main Subjects
Abstract EN
This paper explores the applying of the IFRS 9 by the IFRS’s compliant firms with Sukuk, concentrating on the problems of Sukuk classification and using the expected credit loss model.
Employing the methodology of three stages; started through a written survey with listed firms financial managers then semi-structured interviews language with Islamic accounting and IFRS's experts.
Finally, a questionnaire distributed to external auditors.The article concluded; the IFRS’s compliant firms could apply the IFRS9 with Sukuk with considering some Islamic rules related to the Sukuk.
The article gives a practical guide to deal with Sukuk under IFRS9.
Instructions were suggested to classify and measure the Sukuk.
listed firms shall justify that treatment according to the IFRS’s conceptual framework.
Additionally, using the equity methods as IAS 28 and classifying as financial assets by fair value through profit or loss.
Debt-based Sukuk are classified only under amortised cost since they are not tradable.
The listed firms should apply the ECLM on Debt-based Sukuk only, and by using other prevailed factor than the interest rate when involving the expected credit loss.providing solutions to the mentioned problems will increase the willingness of the IFRS’s compliant firms to invest in Sukuk and advance the Sukuk market.
American Psychological Association (APA)
Murshid, Amir. 2020. Applying IFRS9 with sukuk by IFRS’s compliant firms. International Journal of Islamic Economics and Finance Studies،Vol. 6, no. 3, pp.318-338.
https://search.emarefa.net/detail/BIM-1429603
Modern Language Association (MLA)
Murshid, Amir. Applying IFRS9 with sukuk by IFRS’s compliant firms. International Journal of Islamic Economics and Finance Studies Vol. 6, no. 3 (Nov. 2020), pp.318-338.
https://search.emarefa.net/detail/BIM-1429603
American Medical Association (AMA)
Murshid, Amir. Applying IFRS9 with sukuk by IFRS’s compliant firms. International Journal of Islamic Economics and Finance Studies. 2020. Vol. 6, no. 3, pp.318-338.
https://search.emarefa.net/detail/BIM-1429603
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 333-335
Record ID
BIM-1429603