Shariah concerns raised over fair value measurement for Islamic financial assets.
The article examines issues with classifying and measuring Islamic financial assets under IFRS9. It also discusses concerns about using fair value to measure these assets. The researchers studied Shariah opinions and accounting standards to find that equity-based Islamic assets don't fit the usual classification. They also found that using fair value can raise Shariah concerns due to uncertainty. The findings suggest a need for further research and debate on how to properly account for Islamic financial instruments.