IAI is more advanced and more recognised internationally update us on their accounting standards for shariah. We do not have a formal body issuing shariah standards except Central Bank for the commercial banks islamic products.

The standards issued are financial statements, murobahah, istishna, mudharobah, musyarakah, ijarah, zakat, infak, sedekah, sukuk, wakaf and perbank shariah.

The standards were the joint effort under IAI between Islamic Scholars and Conventional Accountants of Indonesia based on Alquran, hadis, qias and ijma’ ulama.