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  • Istisna'a

    • CM-8.1.15

      As a policy no Istisna'a contracts must be entered without covering the position through a Parallel Istisna'a contract.

      Amended: July 2011
      October 2007

    • CM-8.1.16

      In accordance with provisions contained in FAS 10: Istisna'a and Parallel Istisna'a, revenue and profit on such contracts must be recognised on a percentage of completion method.

      Amended: July 2011
      October 2007

    • CM-8.1.17

      For a detailed definition, disclosure requirements and method(s) of accounting treatment, refer to AAOIFI's FAS 10: Istisna'a and Parallel Istisna'a.

      October 07