International Accounting Standards Board appoints new Chair and Vice-Chair to Islamic Finance Consultative Group

Transcription

1. PRESS RELEASE 25 August 2016 For immediate release International Accounting Standards Board appoints new Chair and Vice-Chair to Islamic Finance Consultative Group The International Accounting Standards Board (the Board) has announced the appointment of Mohammad Faiz Azmi as Chair and Martin Edelmann as Vice-Chair of the Islamic Finance Consultative Group. Mohammad Faiz Azmi is the Executive Chairman of PwC Malaysia, and has previously served as the Chairman of the Malaysian Accounting Standards Board. He has been a member of the Islamic Finance Consultative Group since it was established. Martin Edelmann is a member of the International Accounting Standards Board. The Islamic Finance Consultative Group, formerly the Consultative Group on Shariah-Compliant Instruments and Transactions, is an advisory group to the Board focussing on challenges that may arise when IFRS Standards are applied to Islamic financial instruments and transactions. The group was established in 2013, following the Board’s first Agenda Consultation on which topics to include in its technical work plan. It has met three times and in February 2016 a paper on the group’s discussions to date was published, focussing on the application of the classification and measurement requirements of the new financial instruments Standard, IFRS 9. The current members of the Islamic Finance Consultative Group are: Name Organisation Mr. Faiz Azmi (Chair) PwC Malaysia Mr. Martin Edelmann (ViceChair) IASB Mr. Wayne Upton (Coordinator) IASB Mr. Mohamed Raslan Abdul Rahman Malaysian Accounting Standards Board (MASB) Mr. Jusuf Wibisana Ikatan Akuntan Indonesia (IAI) Mr. Rashid Rahman Mir Institute of Chartered Accountants of Pakistan (ICAP) Mr. Naweed Lalani Dubai Financial Services Authority (DFSA) Dr. Abdulrahman Alrazeen Saudi Organization for Certified Public Accountants (SOCPA) Dr. Mohammed F. Bahjatt Saudi Organization for Certified Public Accountants (SOCPA) The IFRS* Foundation is a not-for-profit corporation under the General Corporation Law of the State of Delaware, United States of America Registered Office: 1209 Orange Street | Wilmington | New Castle County | Delaware 19801 | United States of America | Company No.: FC023235
2. Dr . Hamed Hassan Merah Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) Mr Jaseem Ahmed Islamic Financial Services Board (IFSB) Dr. Obaid Saif Al Zaabi Gulf Co-operation Council Accounting and Auditing Organisation (GCCAAO) Mr. Abdelilah Belatik General Council for Islamic Banks and Financial Institutions (CIBAFI) Dr. Mohamad Akram Laldin International Shari’ah Research Academy for Islamic Finance (IISRA) Mr. Rashid Al-Rashoud EY Saudi Arabia Dr. Sami Ibrahim AlSuwailem Islamic Development Bank Group (IDBSA) Mr. Samet Arslan Public Oversight, Accounting and Auditing Standards Board (POA), Turkey Mr. Kagan Ertop Public Oversight, Accounting and Auditing Standards Board (POA), Turkey Mr. Fatih Yalcin Mete Public Oversight, Accounting and Auditing Standards Board (POA), Turkey More information on the Islamic Finance Consultative Group is available here. END Press enquiries: Adele Gilbert, Communications Manager, IFRS Foundation Telephone: +44 (0) 20 7246 6909 Email: agilbert@ifrs.org About the IFRS Foundation The IFRS Foundation is an independent, not-for-profit organisation, overseen by a Monitoring Board of public authorities. Its vision of a single set of global accounting standards is supported by G20 leaders and other international organisations with responsibility for the global financial system. The mission of the IFRS Foundation is to develop IFRS Standards that bring transparency, accountability and efficiency to financial markets around the world, fostering trust, growth and long-term financial stability. The International Accounting Standards Board is the standard-setting body of the IFRS Foundation, made up of independent experts from diverse professional and geographical backgrounds. IFRS Standards are adopted by more than 100 countries globally. For detailed information on the organisation’s structure, the standard-setting process and the spread of IFRS Standards, visit www.ifrs.org. Page 2 of 3
3. IFRS , IAS, IFRS Foundation, IASB, IFRIC and SIC are trademarks of the IFRS Foundation in the UK and in other countries. Please contact the Foundation for details of where these trademarks are registered. Page 3 of 3