Project Proposal

RAP proposal – An evaluation of the use of short term and long term Islamic financial instruments and their impact on the financial statements of an organization

Objectives

1. To understand the nature of Islamic financial instruments 2. Its impact on the financial statements and business performance of the chosen organization 3. What are Islamic financial instruments? 4. How do they differ from “conventional” financial instruments? i.e recognition, measurements, accounting treatment

Draft Title
Examining Islamic financial insturments in the Nigerian Bank Industry
Case study Jaiz Plc

Background to the proposal
The topic chosen is based on understanding the use and impact of Islamic financial instruments in organizations.

Particular interest in the topic is the establishment of Islamic institutions and their significant growth. Global banks like HSBC, Llyods TSB, CitiBank (to name a few) are seeking to tap into this emerging market.
The weakening global economy has now put Islamic finance and its financial instruments in the spotlight.

This would involve in depth comparison of Islamic financial instruments with “conventional” financial instruments of two different organizations.

The comparisons will be on two Nigerian banks.

The main accounting area involved is Financial instruments, and this along side other areas will be used in comparing the financial instruments to show similarities, differences and their effect on financial statements.

Proposed Methodology

This will be a review of material and financial statements collected from the chosen organizations

Also discussions with key staff of the organization on the use of Islamic financial instruments

Benefits of the research

This research will enable the understanding of the growth and impact of Islamic finance in the world today.
Beneficiaries including myself will appreciate the true meaning of Islamic finance.

Research Questions 1. How do