Financial Reporting Differences of Profit and Loss Sharing Investment Deposits in Islamic banks: A Cross-Country Study

Faleel Jamaldeen

doi:10.20944/preprints202002.0401.v1

Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

Version 1 : Received: 26 February 2020 / Approved: 27 February 2020 / Online: 27 February 2020 (11:22:54 CET)

The aim of this cross-country research is to examine how the profit and loss sharing mudarabah investment deposits are classified and disclosed in the financial statement of Islamic banks. The cross-country study examined the financial statements of fifty-one fully-fledged Islamic banks. The results of the data analysis show that Islamic banks disclose the mudarabah investment account in different ways. The absence of standardized disclosure for mudarabah investment deposit confuses the stakeholders. This research suggests to the regulators to fully or partially adopt the AAOIFI standards specifically for Islamic financial institutions.

Islamic accounting; mudarabah investment deposit; financial reporting of Islamic banks; profit equalization reserve; risk management for Islamic banks

Business, Economics and Management, Accounting and Taxation

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Financial Reporting Differences of Profit and Loss Sharing Investment Deposits in Islamic banks: A Cross-Country Study

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