Al Baraka عربي

Financial Performance Monitoring

The Executive Management has in place various measures that help monitor and control the activities of the Group worldwide. A comprehensive financial consolidating procedure exists and is working effectively. All subsidiaries submit their financial data in a format that is compatible with Islamic Accounting Standards issued by AAOIFI and with International Financial Reporting Standards (IFRS). These are consolidated quarterly, and a consolidated set of financial results is produced. Additionally, subsidiaries submit a monthly return to the Group headquarters providing details of their financial performance, measured against approved budgets.
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