RHB
Islamic Bank (website) was incorporated on 1 May 2005 with a paid up ordinary share
capital of RM1,173,424,000. It
has 14 branches throughout Malaysia. Its
level of compliance to MFRS and AAOIFI accounting standards are tabled below:
Table
4.6: Level of compliance to MFRS and AAOIFI standards
|
No.
|
Financial statement
|
Conformity
|
|
1.
|
Statement on adoption
of AAOIFI
|
Nil
|
|
2.
|
Statement on adoption
of MFRS
|
100%
|
|
3.
|
Statement of financial
position
|
70.0%
|
|
4.
|
Statement of profit or
loss
|
44.4%
|
|
5.
|
Statement of changes in
equity
|
95%
|
|
6.
|
Statement of cash flow
|
100%
|
|
7.
|
Statement of sources and uses of charity fund
|
No
|
|
8.
|
Statement of restricted
investment
|
Yes (notes)
|
In
term of financial reporting, it adopts fully the requirements made by Malaysian
Financial Reporting Standards (MFRS) and adheres the requirements of AAOIFI at
levels. Its SOFP complies 70% whereas SOPL 44.4% to AAOIFI. SOCIE is at 95%
whereas SCF is at 100%. SSUCF and SORI are not presented as financial statement
but Sori is shown in the notes to financial statements (here).
No comments:
Post a Comment