Oman – Insurers to get ready for IFRS17
Tuesday, 10 02 2018, Category: Insurance and Reinsurance, Country: Oman
The Capital Market Authority (CMA) has issued a circular to all insurance companies and Oman Reinsurance Co urging them to prepare for the implementation of International Financial Reporting Standard (IFRS) 17.
In the circular, the CMA has advised insurance companies to adopt the phases to get ready for the implementation of IFRS 17 in 2021. The new accounting standard will replace IFRS 4, the CMA said.
Source: Muscat Daily