Certified Islamic Specialist in Islamic Banking Accounting (CISAC)
Issued by the Islamic Financial Institutions Board (CIBAFI)
Islamic banking accounting plays an important role in measuring and proving financial events and facts that take place in banks to determine the rights and obligations of banks and their customers, determine their results, inform stakeholders, and provide information about them to their stakeholders to enable them to make decisions in dealing with them and in a way that works to preserve money and proper use.
Financial statements (balance sheet, income statement, cash flow statement, etc.) are among the most important products of Islamic banking accounting that aim to provide reports that meet the requirements and needs of users of these statements, which helps them in directing policies and making appropriate decisions.
There are undoubtedly important differences between traditional banks and Islamic banks, the most important of which are the legal requirements and the economic essence of many financial transactions and the existence of Islamic accounting standards, which has contributed to the development of accounting thought in the field of banks and Islamic financial institutions.
Accounting in Islamic financial institutions is based on the objectives, concepts, assumptions, foundations, and acceptable accounting policies in accordance with the provisions of Islamic law, as well as the prevailing values and customs that do not violate the provisions of Islamic law. This Islamic banking accounting cannot perform this effective role except through the legal controls and accounting standards that Islamic banks adhere to.
The aim of the Certified Islamic Specialist in Islamic Banking Accounting is to qualify workers in Islamic banks and raise their efficiency in the theoretical and practical aspects of accounting processing in Islamic banks in accordance with Islamic accounting standards, in all activities, operations, and transactions, which leads to providing high-quality information and preparing final financial reports that help users to make the right decisions.
The goal of obtaining the Certified Islamic Specialist in Islamic Banking Accounting (CISAC):
- To provide participants with a comprehensive understanding of the standards and practices of accounting used in Islamic banking services
- To prepare participants to work in the field of Islamic banking
- To be able to understand the principles of Islamic accounting
- To be able to apply the international standards for preparing financial statements in Islamic banks
- To be able to prepare the financial statements of an Islamic bank
- To be able to read the financial statements of Islamic banks
IBTS is the authorized partner in Iraq for training, distributing the scientific curriculum, conducting registration, and international testing, and delivering the Certified Islamic Specialist in Islamic Banking Accounting (CISAC)
