The emergence of Islamic Accounting to cater for the fast growing Islamic Financial Institutions is encouraging. Muslim accounting scholars have undertaken research to study the needs and requirements of Islamic Financial Institutions, as it should be different from the requirement of conventional banking and financial institutions. Although it is still hotly debated, the accounting for Islamic financial products is lacking a good standard, which is really following the sharia. A few accounting standard setting organization such as AAOIFI and IFSB serve the industry in providing better standards and guidelines. Recent call for harmonization of the accounting standards in IFIs with the International Financial Reporting Standards (IFRS) to achieve standardization and comparability is noted. The purpose of this project is to:

1. Enable students to analyze the financial statements of Islamic financial institutions and recognized the accounting method used in the accounting and reporting of Islamic financial products.
2. They should be able to examine the Islamic financial institution compliance to some of the available standards and also the International Financial Reporting Standards.
3. The students should also be able to analyze the Islamic Financial Institutions governance structure as good governance is critical for the success of any organization

Requirements:

this is two annual reports of the same year from two Islamic financial institutions in two different countries as per the given list:

kuwait finance house annual report 2020

aafaq islamic finance annual report 2020

1. How much Assets, Liabilities, Equities, Revenues, Expenses and Dividends of each bank and analysis this data and comparison between two bank ?

https://www.kfh.com/dam/jcr:917b47d5-37ef-46ee-85da-c0d6063de988/KFH-Annual-Report-2020-English.pdf

https://www.aafaq.ae/userfiles/AR2020EN.pdf