JURSIDICTION SNAPSHOT:
Country: United Arab Emirates
Status: Full Jurisdiction
Jurisdiction Name : xbrl.ae
Website : http://www.xbrl.org/ae
Membership Count: 1
IFRS Adoption for Public Companies: Required for all domestic listed companies
REGULATORS:
Companies Registrar: Ajman Chamber of Commerce and Industry
Banking Supervisor: Central Bank of the United Arab Emirates
Securities Regulator: Securities and Commodities Authority
PRINCIPAL EXCHANGES:
| Dubai International Financial Exchange |
| Abu Dhabi Securities Exchange |
XBRL PROJECTS OVERVIEW:
| Abu Dhabi Securities Exchange (ADX) | Development |
| XBRL UAE | Development |
JURISDICTION MEMBERSHIP:
| Abu Dhabi Securities Exchange (ADX) |
PROGRESS REPORT:
The jurisdiction (provisional) is led by the Abu Dhabi securities exchange (www.adx.ae) and is trying to expand the intererest for XBRL in the GCC (Gulf Cooperative Countries). Efforts are underway to form a board representing this region. Several people from ADX visited with the Mumbai stock exchange and vendors in India to look at implementation examples there. ADX is in the process of developing a taxonomy to require companies to report in XBRL. A RFQ/RFP was mailed to several vendors to assist in the implementation.
A translation of the IFRS XBRL taxonomy has been
completed and is currently being updated to the just published
2008 IFRS XBRL taxonomy.
In conjunction with the implementation of IFRS in the region, a XBRL presentation was part of the discussions at the first IFRS GCC/Middle East Forum held in May 2008. Further details are available at http://www.acevents.ae/ifrs2008/ mailer/IASB.html
A workshop on XBRL is scheduled for November 9 in Dubai in
conjunction with the
Middle East IFRS & Accounting Summit 2008.