The AlShaab University Department of Financial Services in the College of Business hosted a panel discussion entitled "Measurement and Estimation of Profits in Islamic Banks and Business Organizations". The panel was hosted by Prof. Dr. Nuri Abdel-Wadoud Muhammad, in the presence of the Dean of the College, Prof. Dr. Fares Mahdi Alwan and Prof. Dr. Arshad Fouad Majeed , Head of the Banking and Financial Services Department, and was attended by faculty members of various departments of the College of Business.
the meaning of "profit" and the mechanism for making it in accordance with generally accepted accounting principles and procedures. The seminar also included discussions on the topics of accounting principals for estimating the necessary provisions to meet the expected shortage or decline in the value of fixed and current assets and its effects on the calculated profit.
The panel discussed the utilization of the money of depositors-investors with the money of the owners in employment and investment, and the lack of stability of the depositors-investors and the stability of the owners from one accounting period to another, and the effects these have on Islamic Banks.
The panel also addressed the impact of the instability of the monetary unit on the actual profit calculated in business organizations and Islamic banks.
