Consultative Group for Shariah-Compliant Instruments and Transactions—Call for papers

 13 March 2014

In 2011, the IASB (the Board) conducted a consultation on topics to be included in its technical agenda. As a consequence of that consultation, the Board decided to establish a consultative group (the Group) on Shariah-Compliant Instruments and Transactions. The Group held an organizational meeting in Kuala Lumpur in July 2013.

The Group intends to focus on challenges that may arise in the application to instruments and transactions commonly referred to as Islamic finance and to invite papers on those challenges and, after reviewing those papers, to make recommendations to the Board about steps that it might take.

The first topic for papers, is whether some or all of the Islamic products typically owned by Islamic banks qualify for amortized-cost classification.  If the answer is "yes," on what basis?  In the answer is "no", what steps, if any, the Board should take to either clarify the classification of these contracts or to amend IFRS 9?

View the documents below for more details.


Paper topic
Request for papers on application of IFRS 9
Request for papers on application of IFRS 9, Notes on Appendix A
Bank comparisons