Financial reporting for Islamic bank branches revised

Karachi—The State Bank of Pakistan (SBP) has issued revised procedure for conventional banks having Islamic bank branches to report annual financial statements separately about the information of Islamic mode of financing, a circular issued here said. The central bank said that it had been observed that some banks having Islamic Banking Branches (IBBs) are reporting the related assets of Islamic financing in their overall periodic financial statements under different heads, ie, Other Assets.—Agencies

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