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Publication date: 20 January 2022

M. Kabir Hassan, Aishath Muneeza and Adel M. Sarea

This chapter explores the impact of the pandemic on Islamic commercial finance and Islamic social finance in a comprehensive manner. The chapter reveals that COVID-19 has provided…

Abstract

This chapter explores the impact of the pandemic on Islamic commercial finance and Islamic social finance in a comprehensive manner. The chapter reveals that COVID-19 has provided more opportunities to Islamic social finance than Islamic commercial finance. The beauty of Islamic finance in this regard is reflected as the perception that Islamic finance does not achieve its objective as being a social finance is proved to be false as Islamic finance not only promotes profit maximization, but it has also the potential to achieve social objectives. Islamic commercial finance developments could be slower, but it is anticipated that Islamic social modes of financing will be used widely even by multilateral agencies to assist the communities who need help in this pandemic. The most important lesson one could learn from this pandemic in relation to Islamic finance is that Islamic finance is truly different from conventional finance and as such, it needs a unique legal, regulatory and governance framework to display the true potential of it.

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Towards a Post-Covid Global Financial System
Type: Book
ISBN: 978-1-80071-625-4

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Book part
Publication date: 10 February 2020

Murat Erdoğan and Eda Oruç Erdoğan

The purpose of the financial statements is to present the situations of the enterprises, such as the financial situation, results of operations, etc., in the decision-making…

Abstract

The purpose of the financial statements is to present the situations of the enterprises, such as the financial situation, results of operations, etc., in the decision-making processes to the related parties in a suitable, comparable, and realistic manner. In recent years, professional frauds in enterprises have been seriously reflected in financial statements and this has resulted in the manipulation of financial information.

In this study, we aim to determine financial firms, which might manipulate the financial information, by applying the Beneish model and then determine the financial indicators of possible financial statement manipulation, using logistic regression. For this purpose, companies included constantly in Borsa İstanbul-50 (BIST-50) 2015, 2016, and 2017 were examined. After the enterprises which have the possibility of financial manipulation are determined by the Beneish model, it is understood that there is a positive relationship between the probability of manipulating financial information and the Asset Quality Index and Sales, general and administrative expenses index.

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Contemporary Issues in Audit Management and Forensic Accounting
Type: Book
ISBN: 978-1-83867-636-0

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