Accounting Issues in Sukuk Issuance

Biancone, Paolo; Shakhatreh, Mohammad Ziad

doi:10.12816/0036631

Cited by 5 publications

(4 citation statements)

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“…Standar akuntansi diperlukan bagi entitas nonkeuangan untuk menerbitkan sukuk (Biancone & Shakhatreh, 2016) Sukuk berasal dari Bahasa arab " ‫صكوك‬ " yang merupakan bentuk jamak dari kata Sakk " ‫صك‬ " yang memiliki arti dokumen atau lembaran kontrak yang dipersamakan dengan sertifikat atau nota. Secara singkat, sukuk merupakan bukti (claim) kepemilikan terhadap aset yang menjadi dasar penerbitan sukuk (underlying asset) (Dafi, 2020).…”

Section: Pendahuluanunclassified

Perlunya Standar Akuntansi Keuangan Pemerintah atas Sukuk Negara untuk Mewujudkan Akuntabilitas Syariah

Wardhani

2022

JIEI

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This study aims to analyze the practice of Government Accounting Standards for Sovereign Sukuk transactions according to PSAK 110 (revised 2015), AAOIFI FAS 33, PMK on Central Government Accounting Policies, and PMK on Government Debt Financial Reporting Accounting Systems using a case study qualitative approach. The result of the research is the need to improve the accounting treatment for Sovereign Sukuk. Sovereign Sukuk is recognized when the obligation arises, namely at the time of the sale transaction. However, this recognition does not regulate each Sovereign Sukuk contract. The measurement of Sovereign Sukuk is regulated by two regulations, which result in impractical accounting treatment related to the measurement. The presentation of Sovereign Sukuk is presented in the value of Government Securities (SBN) both short term and long term. The presentation is the same as the presentation of corporate Sukuk for the type of ijarah Sukuk. The regulations do not regulate the detailed disclosure of information that must be disclosed concerning Sovereign Sukuk so the disclosure of transaction information on Sovereign Sukuk is not as complete as corporate Sukuk. Therefore, to maintain the accountability of Sovereign Sukuk, it is necessary to have government accounting standards that specifically regulate it. It aims to increase public confidence to invest in Sovereign Sukuk.

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Section: Pendahuluanunclassified

Perlunya Standar Akuntansi Keuangan Pemerintah atas Sukuk Negara untuk Mewujudkan Akuntabilitas Syariah

Wardhani

2022

JIEI

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“…On the other hand, Hidayat (2013) ; Ahmed et al(2015); Biancone and Shakhatreh (2016); Smaoui and Khawaja (2017); Alswaidan et al (2017); Borhan and Ahmad (2018); Hasan et al (2019) contributed in the interpretation of the AAOIFI FAS 34 -Financial reporting for Sukuk-holder .…”

Section: Sukuk Classificationmentioning

confidence: 99%

Applying IFRS9 with Sukuk by IFRS’s Compliant Firms

Morshed

2020

International Journal of Islamic Economics and Finance Studies

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This paper explores the applying of the IFRS 9 by the IFRS's compliant firms with Sukuk, concentrating on the problems of Sukuk classification and using the expected credit loss model. Employing the methodology of three stages; started through a written survey with listed firms financial managers then semi-structured interviews language with Islamic accounting and IFRS's experts. Finally, a questionnaire distributed to external auditors.The article concluded; the IFRS's compliant firms could apply the IFRS9 with Sukuk with considering some Islamic rules related to the Sukuk. The article gives a practical guide to deal with Sukuk under IFRS9. Instructions were suggested to classify and measure the Sukuk. listed firms shall justify that treatment according to the IFRS's conceptual framework. Additionally, using the equity methods as IAS 28 and classifying as financial assets by fair value through profit or loss. Debt-based Sukuk are classified only under amortised cost since they are not tradable. The listed firms should apply the ECLM on Debt-based Sukuk only, and by using other prevailed factor than the interest rate when involving the expected credit loss.providing solutions to the mentioned problems will increase the willingness of the IFRS's compliant firms to invest in Sukuk and advance the Sukuk market.

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“…In order to fund infrastructure needs and the country's economic growth, we must develop an integrated Sharia legal framework, Sharia accounting, pricing mechanisms, tax regulations, and policies that can play an essential role in developing the role and market share of Sharia products, including them. Including the more competitive "mudharabah" profit-and-loss sharing product and global sukuk as complementary products and sources (Biancone & Shakhatreh, 2015). The characteristics of sharia contracts that are applied by Islamic banking and finance are primarily profit-sharing mechanisms that contain the spirit of cooperatives in contracts such as mudharabah (profit sharing) and musharakah (partnerships) (Ismail & Tohirin, 2010).…”

Section: Introductionmentioning

confidence: 99%

Challenges in the Implementation of Mudharabah Financing in the Islamic Banking Industry

KHALİFAH,

ASLAN,

ABDULLAH

2024

Ekinoks

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In recent decades, the proliferation of Islamic banking has rendered it a significant entity in the global financial arena, captivating numerous entrepreneurs and businesses with its ethically distinctive financing alternatives. Several Islamic financial institutions adhere robustly to the profit-sharing principle, notably via mudharabah, in product financing. This research paper explains why mudharabah contracts are used in Islamic banking products, focusing on financing schemes, literacy, and the lack of equal access to information. Moreover, within the context of Islamic FinTech, this research highlights high business risk as a pronounced impediment to the efficacious implementation of mudharabah. In addition, this study offers a rigorous analysis of the issues and challenges endemic to mudharabah financing, venturing into perspectives from regulators and Islamic bank customers. This paper utilized a literature review methodology, and data extracted from relevant literature is systematically analyzed to evaluate mudharabah products as a viable business financing model. Conclusively, the insights derived from this research are positioned to formulate strategic recommendations, fostering advancements in implementing mudharabah contracts within Islamic product financing.

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Accounting Issues in Sukuk Issuance

Cited by 5 publications

References 0 publications

Perlunya Standar Akuntansi Keuangan Pemerintah atas Sukuk Negara untuk Mewujudkan Akuntabilitas Syariah

Perlunya Standar Akuntansi Keuangan Pemerintah atas Sukuk Negara untuk Mewujudkan Akuntabilitas Syariah

Applying IFRS9 with Sukuk by IFRS’s Compliant Firms

Challenges in the Implementation of Mudharabah Financing in the Islamic Banking Industry

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