KPMG and AAFI webinar on ‘Islamic Finance through the lens of Taxation & Accounting’ on 15 June

Monday, 7 June 2021 00:00 - - {{hitsCtrl.values.hits}}

Suresh R. I. Perera

Shameel Nayeem

The Association of Alternate Financial Institutions (AAFI) has partnered with its member organisation, KPMG Sri Lanka, to conduct an interactive webinar titled ‘Islamic Finance through the lens of Taxation and Accounting’ on 15 June at 2:30 p.m.

Prudential BSN Takaful Berhad Malaysia Chief Risk Officer Anita Menon will give the keynote speech. KPMG Sri Lanka Partner – Accounting Advisory Shameel Nayeem will expound on the accounting treatment of various Islamic finance products while KPMG Sri Lanka Principal – Tax and Regulatory Suresh Perera, FCMA CGMA will elaborate on the tax implications.

The introduction of new Financial Reporting Standards as well as the recent amendments to the Inland Revenue Act No. 24 of 2017 have had significant sweeping implications on Islamic finance products. This interactive webinar will aim to provide clarity and enlighten participants on the intricacies arising in the accounting and taxation of Islamic finance products as a result of these statutory and regulatory changes.

The AAFI was formed in 2015 for the purpose of furthering the alternate finance industry in Sri Lanka through the creation of a forum to voice and discuss the issues pertaining to the alternate finance industry and promote its growth. Currently, AAFI has eighteen voluntary members comprising of a majority of the banking and financial institutions in Sri Lanka.

For more information or to register for the webinar please contact Seneli Jayatunge on [email protected] or 074 061 0783.