Accounting Regulation and IFRS in Islamic Countries

Salim Aissat, Lotfi Boulkeroua, Mike Lucas, Carien van Mourik

Research output: Chapter in Book/Published conference outputChapter (peer-reviewed)peer-review


Finance and investment in accordance with Islamic Shariah Law have been on the rise worldwide. In addition to wealthy Muslim individuals in oil rich countries in the Middle East, the wealthy and middle class in countries with large Muslim populations such as Indonesia, India, Nigeria, Pakistan and Turkey are seeking Shariah-compliant securities in which to invest. Muslims represent about 22 per cent of the world population (July 2012 estimates in the CIA World Factbook) and therefore a large potential market even if currently many of them live in poverty in developing countries (See the GDP per capita column in Table 25.1). To keep matters in perspective, one must keep in mind that the vast majority of financial transactions in Islamic countries are conventional rather than Shariah-compliant transactions.

Original languageEnglish
Title of host publicationThe Routledge Companion to Accounting, Reporting and Regulation
Subtitle of host publicationAccounting Regulation and IFRS in Islamic Countries
EditorsCarien van Mourik, Peter Walton
Number of pages23
ISBN (Electronic)9780203103203
Publication statusPublished - 1 Oct 2013

Bibliographical note

Publisher Copyright:
© 2014 Carien van Mourik and Peter Walton.


  • Accounting
  • accounting and accountability;
  • Accounting conceptual frameworks
  • IFRS
  • Regulation
  • Islamic Economics


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