23.01.2013 - SBP streamlines disclosures of Islamic banking
The State Bank of Pakistan (SBP) has decided to introduce changes in the "Statement of Financial Position" and the relevant notes to streamline and standardise disclosures of Islamic banks and Islamic banking branches. According to these changes, the head "financing" used by Islamic banks in their balance sheet and the related note should be renamed as "Islamic financing and related assets". All financings, advances (against Murabaha etc.), inventories and any other related item(s) pertaining to Islamic modes of financing, presently being reported under "Other Assets" or any other head, shall become part of the "Islamic Financing and Related Assets"...............................................Full Article: Source
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