Journal of Islamic Finance Accountancy (JOIFA) Call of Papers for the 2nd Issue

The “Journal of Islamic Finance Accountancy” (JOIFA), the semi-annual double-blind peer-reviewed research journal was launched by AAOIFI last year.  Alhamdolillah, its first (September, 2017) Issue has been published. Now, the process is underway for the March, 2018 Issue.

The JOIFA publishes academic papers on all areas of financial reporting in Islamic perspective, technical papers, country reports, interviews with experts and regulators in the related areas, updates relating implementation and adoption of Shariah and Accounting and Auditing standards, and allied case studies.

AAOIFI is pleased to solicit academic / research papers for the second Issue of the JOIFA, covering any of the areas of financial reporting in Islamic perspective, including but not limited to the following topics /areas:



1.  IFRS, National Standards and Islamic Finance Principles: Bridging the Gaps in the light of AAOIFI’s Standards

2.  Fair value concept and Islamic finance principles

3.  Fair value accounting for Islamic financing: Benefits and issues

4.  Islamic Law, Common Law and Accounting for Financing

5.  Accounting for sake of stakeholders’ benefit; not for ‘earnings management’

6.  Disclosure and transparency requirements for Islamic financial reporting

7.  Islamic finance reporting and the impact of different depreciation approaches on various stakeholders

8.  Developing /improving Islamic accounting standards in the light of issues in  IFRS and standards already issues by AAOIFI

9.  Accounting in Running Finance provided through the contract of Musharaka- Case study from Pakistan

10. Reforms in financial reporting for promoting Musharaka based financing

11. Comparing accounting for Musharaka with that of the limited partnerships of the west

12. Financial disclosures in accounting procedures for strengthening the Sharia governance

13. Accounting by Islamic fund managers and investment banking institutions

14. Accounting for Qard al Hasan in the light of IFRS and AAOIFI’s standards

15.  Resolving the issues in accounting for various Islamic modes of financing

16.  Accounting issues in various categories of Sukuk

17.  Accounting for Sovereign and Corporate Ijarah Sukuk

18.  Accounting for Shari’ah compliant (as per AAOIFI Standards) Forex transactions by the IFIs.

19.  Accounting for various models of Takaful operations

20.  Governance and performance reporting in Waqf institutions

21.  Accounting for Ijarah finance compared with conventional leasing accounting

22.  Accounting for various Musharaka based financing structures

23.  Developing Islamic finance accounting for Good governance

24.  Avoiding frauds and corruption in financial reporting; Need for Islamic ethics based approach

25.  Fulfilling information needs of Shari’ah conscious stakeholders and the gaps in the existing frameworks of Islamic finance reporting – general and case studies of specific modes / jurisdictions

26.  Impact of accounting approached on various stakeholders

The authors may write on the objectives, the approach and tools, issues of contention with regard to IFRS and necessary guideline for their adaptation for removing the contentious issues.

Experts may also prepare reviews and offer comments on AAOIFI’s new standards, and exposure drafts of standards in the pipeline, particularly Standard on Murabaha and Other Deferred Payment Sales and Shari’ah Standard on Gold.

Paper Submission Timeline


Last Date for Paper Submission: 10th Feb, 2018
Acceptance for peer reviews / rejection info by 15th Feb, 2018
Reviewers’ comments to authors for revision by 15th March, 2018
Submission of final version by 25th March, 2018

Early submissions encouraged; late submissions, however, could be considered for the next Issue(s) of the JOIFA


Guidelines for Authors

  1. The author(s) should not mention their names and affiliation, etc. on the text of the paper. A separate sheet bearing full name, affiliation, mailing address and telephone number should be sent along with the main paper.
  2. The papers submitted for publication must not have been submitted simultaneously to any other journal.
  3. All papers must have an abstract of no more than 250 words, 4-6 Keywords and JEL and KAUJIE classification, if applicable. The ‘Abstract’ should contain the objective, methodology, findings and suggestions, and practical implications of the research work for publication.
  4. The length of the article should preferably be between 4000- 8,000 words.
  5. The papers should make some significant contribution to Islamic finance reporting and accounting, either theoretical or applied, or discuss any related professional aspect of Islamic finance.
  6. Submitted papers must contain original unpublished work. The subject content should not impinge upon, violate or constitute a breach of any intellectual or business rights of any third party.
  7. All papers should have an introductory section in which the objectives and methodology of the article are explained and a final/ concluding section, which summarizes the main points discussed and the conclusions reached.
  8. The AAOIFI shall have non-exclusive rights on the materials published in the JOIFA; would be fully authorized to use or distribute the material for the purpose of Indexing / Abstracting, to translate into other languages, or for any other related purposes; and would have power to enter into any agreement with third parties for distribution of the materials by any means and in any format.
  9. Since all material received for publication is to be peer reviewed, two hard copies or a soft editable copy should be submitted in final form for sending anonymously to the reviewers.
  10. The authors would have to revise and resend the papers in the light of comments / suggestions by the peer reviewers or the editorial committee members.
  11. References in APA style should be listed at the end of the text in the following style:

Articles: El-Gari, Mohamed Ali (2003); Credit Risk in Islamic Banking and Finance; Islamic Economic Studies; Vol. 10, No. 2, (2003); Pp. 1 – 23;

Books: Khan, A. R. (1993), Financial Intermediation, New York: Springer Publishers.

Standards / Reports: Issuing institution, Number, Title, year of publication, with clauses / sub clauses of the relevant Standards

Page references to works referred to in the text should take the following form: El-Gamal (2006:128).

The verses of the Holy Qur’ān quoted should carry Srah number and ãyah number as (2:275).

Complete reference to the source of A╒ādīth quoted should be given like: Muslim, a╒┘╒, Kitb al shirkah ……

Paper submissions:

Till AAOIFI adopts any online submission system, papers may be sent as attachment to email to [email protected]

Authors are encouraged to contact the Editors in advance through [email protected] should there be any matters on which they require clarification or guidance.