What specific disclosures are made in the banks annual accounts regarding the Islamic windows operations?
Apart from the aggregate contra items on account of the Islamic operations, the bank may need to disclose fund-wise the gross income earned, total administrative expense, write-off on account of bad accounts (both proportionate and total amount) and the mudarib ‘s (bank’s) share of net income. The bank will also need to appoint a shariah auditor whose report will need to be appended to the Islamic windows accounts.
