Exile And Suffering Essay

The respondents do non , however , indicate any execration to the establishment of a capital market that would trade in Sukuk and other instruments , and even deepen the market so that additive liquidity might be created5 .1 .5 . Accounting Standards HarmonizationAccording to the responses given , the grapple regarding the standardization and harmonisation of accounting practices ranks highly on the hear of things that need to be dealt with within the Islamic financial institutions of capital of capital of Kuwait . The importance of this harmonization has made itself clear within the institutions macrocosm studied , as the lack thereof has contributed to the existence of a shallow capital market that lacks fairness , efficiency , and enhancer (IOSCO , 2004 . The credibility granted Islamic financial institutions as a result of recent work by AAOIFI has improved trading operations enough to emphasise the importance of accounting harmonisationAs it now stands , the harmonisation initiative has improved the ability for Kuwaiti financial institutions to relegate with other non-Islamic banks as accounting standards have been expressed in harmony to a greater degree .

This appears to have as well as accorded the banking system a reasonable amount of credibility in the estimation of other institutions and accorded to Islamic bank workers a high level of respect among their peers . Yet more needs to be done , as has been indicated by the interviewees responses . Continued efforts to broaden the celestial orbit of harmonisation promise to improve the status of Kuwaiti banks within a financial situation in which the majority of institutions do work according to international accounting standards5 .1 .6 . Standardization of ShariahThe respondents were universally agreed that the proper standardization of Shariah was necessary not only to the proper understanding of the Islamic banking principles , but at long last to the proper governing of all financial institutions in Kuwait . The survey highlights the confusion that currently...If you want to get a broad(a) essay, order it on our website: Orderessay

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