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Statement of Investment Deposits Performance: Improvement of Accountability in the Business Model of Usury-free Banking in Iran, Consistant with IFRS

Author

Listed:
  • Badri , Ahmad

    (Shahid Beheshti University)

Abstract

Statement of investment deposits performance is a separate and supplementary financial statement that is designed with two objectives: 1. Improvement in the level of disclosure and accountability of the banks to the owners of investment deposits as the main providers of the banks' resources, and 2. Implementation of the IFRS standards on banking business in Iran. In this paper, the principles governing the banking business in Iran, and statements of the conceptual framework proposed by the Joint Working Group on IASB and FASB have been combined in order to provide a supporting framework for designing this financial statement. Materiality, comprehensiveness, comparability, maintaining the intrinsic relationship between financial statements, and concordance with the business model are the main features being considered in the design of the supplement. Moreover, the introduction of this financial statement provides some evidence in support of a concept, so called "reasonable flexibility" of universal conceptual framework for financial reporting.

Suggested Citation

  • Badri , Ahmad, 2015. "Statement of Investment Deposits Performance: Improvement of Accountability in the Business Model of Usury-free Banking in Iran, Consistant with IFRS," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 10(1), pages 131-158, January.
    • Handle: RePEc:mbr:jmonec:v:10:y:2015:i:1:p:131-158
    as

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    References listed on IDEAS

    as
    1. Ayadi, Rym & De Groen, Willem Pieter, 2014. "Banking Business Models Monitor 2014: Europe," CEPS Papers 9713, Centre for European Policy Studies.
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    More about this item

    Keywords

    Accountability; Usury-free Banking Business Model in Iran; Statement of investment deposits performance; Conceptual framework for international financial reporting; Financial statements;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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