IBA Centre for Excellence in Islamic Finance announced a one-day course on "Framework for Islamic Accounting Standards and Disclosures in IFIs" on 12th May, 2017. The course is uniquely designed for participants seeking to develop an understanding of the accounting standards which have been approved by ICAP and implemented by IFIs, locally. The course will also demonstrate, through case studies and interactive exercises, an understanding of Islamic modes of financing, as well.

Omar Mustafa Ansari, the deputy secretary general at the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) will be trainer of the course. His key area of expertise is Islamic Accounting advisory, Shari'ah Audits, Corporate Finance Advisory, Structuring of Shari'ah Compliant Transactions, Financial Modelling and Risk Management.

The course will be helpful in understanding the conceptual framework for Financial Reporting in IFIs (banks and similar institutions) and learning about the Islamic Financial Accounting Standards (IFAS) related to Murabaha, Ijara and Ijara Muntahia Bittamleek, profit and loss distribution for deposits and Diminishing Musharaka (exposure draft).

Copyright Business Recorder, 2017