Banking
Sukuk Investment — Purchased
Purchasing a sovereign or corporate Sukuk for the investment portfolio.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Sukuk Investment (AC or FVOCI) | Asset (+) | 5,000,000.00 | - |
| Cash / Settlement Account | Asset (-) | - | 5,000,000.00 |
💡 Accountant's Note
Sukuk represent ownership in underlying assets. Despite this Shariah distinction, they are accounted for under IFRS 9 based on the business model and cash flow tests — classified as AC, FVOCI, or FVTPL.
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