CIBAFI submits comments to the International Financial Reporting Standards foundation
Published 26 Dec,2020 via bizbahrain - Aligned with its role as an advocate of the Islamic Financial Services Industry (IFSI), the General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, announced that it has submitted its comments to the International Financial Reporting Standards (IFRS) Foundation Trustees on their Consultation Paper on “Sustainability Reporting”.
The Consultation Paper has been issued by IFRS Foundation Trustees in September and is open for public consultation until 31st December 2020, to assess demand for global sustainability standards and, if demand is strong, assess whether and to what extent the Foundation might contribute to the development of such standards.
In its comments, CIBAFI thanked the IFRS Foundation Trustees for giving the opportunity to the Islamic Financial Services Industry to comment on the Consultation Paper. CIBAFI feedback comprised the following key points.
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