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Studies and research

A selection of articles on current research and developments in Islamic accounting and finance.

Online articles

The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use. 

Online access to the full text of articles from the Journal of Islamic Accounting and Business Research is no longer available but ICAEW members and ACA students can still obtain these articles free-of-charge by contacting the library enquiry service by telephone on +44 (0)20 7920 8620 or by email at library@icaew.com (abstracts are still accessible through the links below).

INCEIF Knowledge Repository (IKR)
The International Centre for Education in Islamic Finance (INCEIF) Knowledge Repository can be used to access journal articles, conference papers, research reports, dissertations and other scholarly/research output by INCEIF's faculty, staff and students.

Displaying 1-13 of 13 results
Exclusive A contemporary review of Islamic finance and accounting literature
  • Article
  • 01 Mar 2022
  • Leila Gharbi
  • Singapore Economic Review
This paper reviews empirical studies with a particular interest in Islamic finance literature and highlights future research directions. The literature provides a mixed picture of Islamic financial markets and instruments, showing that the Islamic ones perform better most of the time but also perform worse at times than their conventional counterparts. This paper discusses issues that are relevant to Islamic finance and identifies avenues for future research and policy implications.
Exclusive The substance and form of Islamic finance instruments: an accounting perspective
  • Article
  • 04 Aug 2021
  • Tarek Abdelfattah, Ahmed Ebrahim
  • Journal of Islamic Accounting and Business Research
Article analysing the fundamentals of major Islamic finance accounting instruments and contracts, in reference to the concept of substance over form in the accounting conceptual framework.
Exclusive The need for Islamic accounting standards: the Malaysian Islamic financial institutions experience
  • Article
  • 01 Jan 2019
  • Nor Farizal Mohammed
  • Journal of Islamic Accounting and Business Research
Research into the financial reporting practices of Malaysian Islamic Financial Institutions (IFIs).
Exclusive Understanding and evaluation of risk in Sukuk structures
  • Article
  • 12 Oct 2017
  • Mohammed Waleed Alswaidan, Arief Daynes, Paraskevas Pasgas
  • Journal of Islamic Accounting and Business Research
This paper presents a Sukuk Islamic bond risk classification matrix based on an evaluation of Sukuk structure risks.
Exclusive Sukuk and conventional bonds: shareholder wealth perspective
  • Article
  • 12 Oct 2017
  • Mohamed Sherif
  • Journal of Islamic Accounting and Business Research
This study aims to comprehensively examine the stock market effects of announcements by firms to issue conventional bonds versus Sukuk Islamic bonds.
Exclusive Unveiling IASB standardization projects and its influence on the position of Takaful industry in Indonesia
  • Article
  • 08 Sep 2017
  • Murniati Mukhlisin
  • Journal of Islamic Accounting and Business Research
A look at the Takaful insurance industry's attempts to adopt International Financial Reporting Standards (IFRS).
Exclusive An accounting perspective on the use of combined contracts and donations in Islamic financial transactions
  • Article
  • 01 Jan 2017
  • Muhannad Ahmed Atmeh, Bassam Maali
  • Journal of Islamic Accounting and Business Research
The purpose of this paper is to investigate the techniques used by Islamic financial institutions (IFIs) to shift conventional instruments to Shariah-compliant instruments. The paper additionally aims to explore the effect of these techniques on financial reporting. Published in the Journal of Islamic Accounting and Business Research, Volume 8 Issue 1 (2017)
Exclusive Accountability and narrative disclosure by Muslim charity organisations in the UK
  • Article
  • 01 Jan 2017
  • Sofia Yasmin, Roszaini Haniffa
  • Journal of Islamic Accounting and Business Research
This study assesses the disclosures made by Muslim charity organisations (MCOs) in trustee annual reports against the framework of the Charities SORP. Published in the Journal of Islamic Accounting and Business Research, Volume 8 Issue 1 (2017)
Exclusive Issues on the application of IFRS9 and fair value measurement for Islamic financial instruments
  • Article
  • 01 Jul 2016
  • Zurina Shafii, Abdul Rahim Abdul Rahman
  • Journal of Islamic Accounting and Business Research
This paper aims to examine some issues in IFRS9 with regards to classification and measurement of Islamic financial assets. In addition, the paper discusses the Shariah concerns on the use of fair value to measure financial assets. Published in the Journal of Islamic Accounting and Business Research, Volume 7 Issue 3 (2016)
Exclusive Sharia disclosures: An exploratory study from the perspective of Sharia-compliant companies and professional users
  • Article
  • 01 Jul 2016
  • Anna Che Azmi, Norazlin Ab Aziz, Normawati Non, Rusnah Muhamad
  • Journal of Islamic Accounting and Business Research
A study into the reasons behind low Sharia disclosures in the annual reports of Sharia-compliant companies. Published in the Journal of Islamic Accounting and Business Research, Volume 7 Issue 3 (2016)
Exclusive A critique on accounting for murabaha contract: A comparative analysis of IFRS and AAOIFI accounting standards
  • Article
  • 01 Jul 2016
  • Mezbah Uddin Ahmed, Ruslan Sabirzyanov, Romzie Rosman
  • Journal of Islamic Accounting and Business Research
This paper explains the legal structures of a murabaha contract and considers the divergence of accounting treatment between IFRS and AAOIFI. Published in the Journal of Islamic Accounting and Business Research, Volume 7 Issue 3 (2016)
Exclusive A critical analysis of the use of fair value by Islamic Financial Institutions
  • Article
  • 01 Apr 2016
  • Leila Gharbi
  • Journal of Islamic Accounting and Business Research
The authors consider the compatibility of IFRS with Islamic finance regarding the use of interest rate as a discounting rate in impairment testing and valuation techniques. Published in the Journal of Islamic Accounting and Business Research, Volume 7 Issue 2 (2016).
Exclusive An Islamic perspective on the true and fair view override principle
  • Article
  • 01 Apr 2014
  • Abang Salihin, A.H. Fatima, Abdulrahman Anam Ousama
  • Journal of Islamic Accounting and Business Research
This paper aims to determine whether the “true and fair view override” (TFVO) principle is relevant and applicable in Islamic accounting. In addition, the paper examines the roles that TFVO could play in Islamic accounting and auditing. Published in the Journal of Islamic Accounting and Business Research, Volume 5 Issue 2 (2014)
Displaying 1-13 of 13 results
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