Abstract
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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Alamad, S. (2019). Islamic Financial Instruments: Accounting of Debt-Based Contracts. In: Financial and Accounting Principles in Islamic Finance. Springer, Cham. https://doi.org/10.1007/978-3-030-16299-3_7
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DOI: https://doi.org/10.1007/978-3-030-16299-3_7
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