10 September 2026

PR/50/2026

Accounting and Auditing Organization for Islamic Financial Institutions’ (AAOIFI’s) Accounting Board (AAB / the board) has officially issued the Arabic version of Financial Accounting Standard 50 “Financial Reporting for Islamic Investment Institutions (Including Investment Funds)” following the completion of all stages of review by the board’s translation committee. The standard supersedes FAS 14 “Investment Funds” which was identified for revision and improvement as a result of the comprehensive AAOIFI FASs review and revision project initiated by the board.

FAS 50 “Financial Reporting for Islamic Investment Institutions (Including Investment Funds)” prescribes the principles of financial reporting for Islamic investment institutions (IIIs) particularly prescribing overall requirements for the presentation, minimum contents and recommended structure of their financial statements in a manner that facilitates truthful and fair presentation in line with Shari’ah principles and rules.

The Arabic versions of the standards can be accessed on AAOIFI website: Link