From Bernama: The role and support of the accounting profession and standards setters will become more important as the Islamic finance industry continues to grow and expand beyond domestic boundaries.
Bank Negara Malaysia Governor, Tan Sri Dr Zeti Akhtar Aziz said, applying the existing accounting frameworks and conventions to Islamic financial institutions may prove to be more challenging, given the unique features of Islamic financial transactions such as the equity based and profit sharing contracts……………………………………….Full Article: Source