IFRS 9 Transition impact on banks in UAE and the GCC
IFRS 9: Impact on banks in the Gulf Cooperation Council
IFRS 9: Transition impact on banks in the UAE and the Gulf Cooperation Council
The biggest accounting development for banks this year has been the implementation of IFRS 9 Financial Instruments, which was expected to have a significant impact on the balance sheet, regulatory ratios and capital along with accounting systems and processes. Now that IFRS 9 is effective, banks’ implementation projects have taken final shape and reflect their thinking and judgement in application of this new standard. We are delighted to present our publication IFRS 9: Transition impact on banks in the Gulf Cooperation Council (GCC), which analyses the financial impact on initial adoption of IFRS 9 by listed commercial banks in the GCC countries.
Download full report (PDF 1.3 MB)
© 2022 KPMG Lower Gulf Limited, KPMG LLP and KPMG LLC, licensed in the United Arab Emirates and the Sultanate of Oman, and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
For more detail about the structure of the KPMG global organisation please visit https://home.kpmg/governance.