A present economic obligation that is enforceable against an Islamic bank or financial institution. Enforcement entails settlement by means of...

A financial item that reflects the residual interest in the assets of the institution (e.g., an Islamic bank) after deducting...

A contract/ aqd (on an entity- e.g., an Islamic bank) in which the unavoidable costs of meeting the obligations under...

A commitment (on an entity- e.g., an Islamic bank) in which the unavoidable costs of meeting the obligations under the...

The accounting process which aims to provide appropriate information, not necessarily limited to financial data, to the stakeholders of a…

Sukuk that are not recorded on the financial position statement (balance sheet) of the issuer. The issuer has no control...

Sukuk that are recorded on the financial position statement (balance sheet) of the issuer. The issuer has control (in terms...

The zakah base (receptacle) is typically determined by an Islamic bank by applying 2.5% for a lunar calendar year or...

It stands for net realizable value (net realisable value); the amount that a company expects to realize in cash (naqd)...

The amount that a company expects to realize in cash (naqd) or cash equivalent (ashbah al-naqd) as payment from customers...