Regulatory Alerts2020-02-26 | 127654Regulation on Requirements for Financial Reporting of Commercial Banks Conducting Operations in Accordance with Islamic Principles of Banking and Finance
The National Bank of the Kyrgyz Republic issued this regulation to establish the composition, content, and preparation rules for financial reporting by Islamic banks, banks with Islamic windows, and banking groups. The document mandates compliance with AAOIFI standards, supplemented by IFRS where AAOIFI standards are absent, while ensuring no conflict with Shariah principles. It details specific reporting components, consolidation procedures, and disclosure requirements to ensure transparency and accurate representation of financial positions.
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