Securities and Exchange Commission of Pakistan has issued attached notification for applicability of “IFRS 17 Insurance Contracts”.
As per notification, IFRS 17, issued by the International Accounting Standards Board, regarding the accounts and preparation of statement of financial position, profit and loss accounts and other relevant statements and disclosures shall be followed for the period commencing from 1st January 2026 of companies engaged in insurance/takaful and re-insurance/re-takaful business.