СС 47 - Правила расчета прибыли по финансовым операциям

This Standard aims to explain the rules and methods of calculation and distribution of profits in financing or investment activities of Institutions.

The word (Institution/Institutions) is used here to refer, in short, to Islamic financial institutions including Islamic Banks.

Scope of the Standard

This Standard covers profit, its validity in Shari’ah and rules and methods of calculating and distributing it. It also explains who is entitled to profit earned from the financing and investment activities of the institutions. This Standard does not cover profit distribution in investment accounts because that is provided in a separate Standard. 2. Definition of Profit and Methods of Calculation In the context of this Standard, Profit means the amount generated in excess of the original capital or of the cost in the operations of financing and investment activities. Calculation of profit refers to the methods used to determine the amount of profit in the institution’s operations. 3. Permissible and Impermissible Profit