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
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.
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.
1. How do Islamic...