Regulatory Alerts2025-01-22 | BPRD Circular Letter No. 01Implementation of International Financial Reporting Standard 9 (IFRS 9)
The Banking Policy & Regulations Department (BPRD) has amended the IFRS 9 Application Instructions to update implementation guidelines for financial institutions. The revised framework mandates retrospective modification accounting effective for loans modified on or after January 1, 2020, and permits general reserves over expected credit losses until December 31, 2026. Islamic banking institutions may retain existing accounting methodologies for revenue recognition and charity fund treatment, provided they disclose the full IFRS 9 impact in their financial statement notes.
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