in

UAE central bank issues guidance to financial institutions on application of IFRS 9


Like Our Facebook Page For Latest News

Abu Dhabi: The Central Bank of the UAE, CBUAE, has issued its guidance to financial institutions on the application of International Financial Reporting Standard 9, IFRS 9.

The guidance has been issued after a consultation with stakeholders in the financial sector.

The objective of IFRS9 guidance is to ensure that credit losses resulting from the consequences of COVID-19 pandemic are appropriately calculated.

IFRS9 guidance proposes practical solutions to manage the impact of economic uncertainty on the estimation of expected credit losses, while remaining compliant with IFRS 9.

The guidance also aims to ensure transparency and disclosure, contributing to strengthened financial stability in the UAE.

Like Our Facebook Page For Latest News

Coronavirus UAE Update – Live Covid 19 Statu

Source by [author_name]

Visit UAE Top Secrets

Advertisements

The post UAE central bank issues guidance to financial institutions on application of IFRS 9 appeared first on The Wealth Land.

What do you think?

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

UAE envoy to Germany conducts virtual visit to Berlin

Three men rescued from mountain in Ras Al Khaimah