BIBF’s IFRS Update
The Bahrain Institute of Banking and Finance (BIBF) recently conducted its annual International Financial Reporting Standards (IFRS) update seminar at the Crown Plaza Hotel. The event focused on important changes to IFRS 9 – Financial Instruments, IFRS 16 –Leases, IFRS 4 – Insurance Contacts. This session will also covered new exposure drafts and other amendments to IFRS 10 – Business Combinations, IFRS 8 – Operating Segments, IFRS 15 – Revenue from Contacts with Customers and proposed interpretations for taxes & foreign exchange and related International Accounting Standards Board (IASB) updates. The event was attended by participants from the Central Bank, banking and insurance industry key players.