Forced Implementation of SFAS 108 on Islamic Insurance? An Interpretation Study of Gray and Sharia

DOI

10.2991/iac-17.2018.8How to use a DOI?

Keywords

Insurance, Claim, Islam, Gray, Takaful

Abstract

Financial Accounting Standard (FAS) No. 108 on Islamic Insurance, which has been effectively applied since 1 January 2010, has received many responses from related companies. Generally, they have not prepared for the standard. This is because extensive efforts are required for the implementation, for example, the separation of funds between shareholders and clients. The method used in the study follows the Gray approach, analysis of the interview results, and analysis of the non-parametric approach to look at the significance of differences. The previous standard did not specify in detail clients’ funds, reserves, and income statement. In the case of Islamic insurance, any tabarru or premium earned must be able to cover probable claims; this is the basic difference between Islamic and conventional insurance.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Dodik Siswantoro
PY  - 2017/08
DA  - 2017/08
TI  - Forced Implementation of SFAS 108 on Islamic Insurance? An Interpretation Study of Gray and Sharia
BT  - Proceedings of the 6th International Accounting Conference (IAC 2017)
PB  - Atlantis Press
SP  - 42
EP  - 47
SN  - 2352-5428
UR  - https://doi.org/10.2991/iac-17.2018.8
DO  - 10.2991/iac-17.2018.8
ID  - Siswantoro2017/08
ER  -