Regulatory Alerts2025-01-22 | BPRD Circular Letter No. 01Added · Updated
Implementation of International Financial Reporting Standard 9 (IFRS 9)
The document amends the IFRS 9 Application Instructions by requiring retrospective application of modification accounting for loans modified on or after January 01, 2020. Financial Institutions are permitted to maintain general reserves or provisions over and above Expected Credit Losses for Stage 1 and Stage 2 until December 31, 2026. Islamic Banking Institutions may follow Islamic Financial Accounting Standards 1 and 2 for revenue recognition and must not recognize charity as income, while disclosing the impact of full IFRS 9 adoption in financial statement notes.
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