The International Federation of Accountants has released new guidance to help professional accounting organizations handle the ongoing evolution of accounting regulations.
A reputation research study commissioned by the trustees of the IFRS Foundation identified several weaknesses in the standards-setter’s approach. Areas identified for further development were mainly around the complexity of its standards, the timelines of its standard-setting process and the need to respond quickly in a changing world.
The Trustees of the IFRS® Foundation, responsible for the governance and oversight of the International Accounting Standards Board (Board), today published the findings of independent research commissioned to better understand stakeholder attitudes towards the work of the IFRS Foundation and the Board.
Aluminum Bahrain (Alba) has posted a net income of BD43.3 million ($115.2 million) for the first half of 2017 versus BD20.5 million ($54.5 million) for the same period in 2016, marking an increase of 111 per cent.
On the back of an improved overall performance and increased customer deposits, the Bank announced strong results for the first half of 2017, declaring a net profit of AED 387 million.
Kuwait Finance House (KFH) is looking to merge with Bahrain’s Ahli United Bank, Kuwait’s biggest Islamic lender said in a statement, confirming an earlier media report.
Qatar Islamic Bank (QIB) was hit by a 6.9 billion riyals ($1.9 billion) deposit outflow in the second quarter, which analysts said could be linked to Qatar’s rift with Saudi Arabia, the United Arab Emirates, Bahrain and Egypt.
GFH Financial Group (GFH) announced that Fitch Ratings, the international credit rating agency, has upgraded its long-term Issuer default rating (IDR) from ‘B-‘ to ‘B’ with a positive outlook.
Pakistan’s central bank has issued guidelines covering how banks that want to be fully-fledged sharia compliant can achieve that status, setting a three-year time frame for applicants to complete the process.