Islamic Financial Instruments: Accounting of Debt-Based Contracts

  • Samir Alamad


This Chapter discusses the accounting and financial accounting treatment of debt-based Islamic financial instruments. The debt-based instruments category includes the Islamic finance principles of Qard (interest-free/benevolent loan), Amanah (trust deposit) and Wadi’a (safe custody deposit). This chapter builds on the influencing theories and the Islamic worldview about money and accounting that I discussed in earlier chapters to formulate the practical aspects of the Islamic accounting system. In that respect I analyse here the accounting treatment and financial reporting of the third category of the Islamic finance principles; the debt-based financial instruments in Islamic finance and its reporting requirements.


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© Springer Nature Switzerland AG 2019

Authors and Affiliations

  • Samir Alamad
    • 1
  1. 1.Head of Sharia Compliance & Product DevelopmentAl Rayan BankBirminghamUK

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