Author : Muzammal Rahim

Introducing Estimator9-S: A Comprehensive Shariah-Compliant IFRS 9 Solution for Islamic Financial Institutions

In today’s evolving regulatory and ethical landscape, Islamic financial institutions are under increasing pressure to implement international accounting standards such as IFRS 9 while remaining fully compliant with Shariah principles. At FineIT, we have always believed that compliance, innovation, and faith-based finance can coexist harmoniously. Building on the success of our widely adopted Estimator9, we […]

Understanding IFRS 9 Compliance: Insights from the Latest State Bank of Pakistan Guidelines

The State Bank of Pakistan (SBP) has issued comprehensive guidance on the implementation of IFRS 9, a transformative accounting standard that reshapes the way financial institutions (FIs) manage and report their financial assets. These instructions emphasize a robust approach to Expected Credit Loss (ECL) modeling, asset classification, and impairment calculations, ensuring alignment with international standards […]

Understanding SBP BPRD Circular No. 16 of 2024: Key Guidelines and Compliance with IFRS 9

On July 29, 2024, the State Bank of Pakistan (SBP) issued the BPRD Circular No. 16 of 2024, which provides crucial updates for financial institutions concerning IFRS 9 implementation. The circular specifically focuses on enhancing financial reporting accuracy, risk management, and aligning Pakistan’s banking practices with global standards. Key elements include: These updates are essential […]

Post-Implementation Review of IFRS 9 – Impairment and Expected Credit Loss (ECL) Models: Challenges and Insights

IFRS 9, introduced by the International Accounting Standards Board (IASB), represents a significant shift in financial reporting by replacing the incurred loss model with the Expected Credit Loss (ECL) model. The ECL model requires financial institutions to forecast potential credit losses and recognize them in financial statements earlier, even before a loss event has occurred. […]

The Impact of IFRS 9 on Microfinance Institutions: Challenges and Opportunities

The introduction of the International Financial Reporting Standard 9 (IFRS 9) marked a significant shift in the financial reporting landscape for all financial institutions, including Microfinance Institutions (MFIs) and Microfinance Banks (MFBs). IFRS 9, which focuses on the classification, measurement, and impairment of financial instruments, aims to enhance transparency and accuracy in financial reporting. However, […]

FineIT Pvt Limited Partners with Pakistan Microfinance Network and Munsalik to Revolutionize the Microfinance Sector with Advanced IFRS 9 Solution

In a landmark development for the microfinance sector, FineIT Pvt Limited has entered into a strategic partnership with the Pakistan Microfinance Network (PMN) and its subsidiary, Munsalik, to deliver an advanced IFRS 9 compliance solution specifically tailored to the needs of microfinance institutions across Pakistan. This collaboration is a significant step forward in strengthening the […]

Comprehensive Guide to IFRS 9: Frequently Asked Questions and Their Answers

IFRS 9, Financial Instruments, represents a significant shift in accounting for financial instruments, impacting organizations across various industries. Effective from January 1, 2018, IFRS 9 replaces IAS 39 and introduces a new approach to the classification, measurement, impairment, and hedge accounting of financial assets and liabilities. This article aims to address the most common queries […]

Navigating SICR Under IFRS 9: Deep Dive into the Transition from Stage 1 to Stage 2

To expand on the topic of Significant Increase in Credit Risk (SICR) and its implications under IFRS 9, I will provide a more detailed analysis that builds on the existing article, emphasizing both the quantitative and qualitative indicators, the importance of continuous monitoring, and practical challenges in real-world applications. Expanded Analysis on SICR and Transition […]

Nepal’s IFRS9 Journey: Embracing Global Accounting Standards for Economic Growth and Stability

Nepal’s financial sector has taken a significant leap forward by adopting International Financial Reporting Standard 9 (IFRS 9), a move that aligns the country with global accounting standards and enhances its economic credibility. This adoption is a crucial step towards promoting transparency, stability, and growth in Nepal’s economy. Benefits of IFRS9 Adoption in Nepal Challenges […]

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