2018-04-09 | 279590776

Banking Circular No. 3 of 2018 - CBK Guidance Note on Implementation of IFRS 9

The Central Bank of Kenya has issued a circular to commercial banks and mortgage finance companies, providing guidance on implementing the new International Financial Reporting Standard (IFRS) 9 for financial instruments. The Guidance Note, issued under the authority of the Banking Act, aims to ensure compliance with IFRS 9 in financial statement preparation and regulatory capital computation during a 5-year transition period. The Note includes adjustments to quarterly and annual financial statements and the development of a new monthly return to monitor provisions related to performing loans and facilities.

Kenya

Central Bank of Kenya

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