IFRS9 and IFRS 9 Regulatory Updates

Country-wise regulatory changes, compliance deadlines, and guidance for IFRS9 and IFRS 9 implementation.

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Regions Covered

Pakistan

UAE

Saudi Arabia

GCC

East Africa

South Africa

Nepal

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📌 IFRS 9 Regulatory Updates by Country (2022–2024)

For more details on IFRS 9 compliance, see our IFRS9 FAQ or IFRS 9 product page.

  • 2025:
    • Continued focus on IFRS 9 compliance, digital reporting, and climate risk disclosures.
    KPMG UAE 2025 Newsletter
  • 2024:
    • UAE banks continue to apply IFRS 9 as issued by the IASB. Focus on climate risk disclosures and IFRS 18 preparation.
    KPMG UAE: IFRS 18 Update
  • 2023:
    • Central Bank of UAE issued reminders on ECL model validation and regulatory reporting.
    CBUAE Press Releases
  • 2022:
    • Continued alignment with IFRS 9 and enhanced regulatory reporting requirements.
    CBUAE Financial Reporting
  • 2025:
    • SAMA continues regulatory reviews of ECL models and climate risk disclosures.
    SAMA Banking Regulations
  • 2024:
    • SAMA reviews of ECL models and increased regulatory scrutiny. Focus on climate risk disclosures and IFRS 18 preparation.
    SAMA Banking Regulations
  • 2023:
    • SAMA issued additional guidance on staging and significant increase in credit risk (SICR).
    SAMA Guidance
  • 2022:
    • Enhanced disclosures for ECL and credit risk required by SAMA.
  • 2025:
    • All GCC countries maintain IFRS 9 compliance for banks and financial institutions. Focus on digital reporting and climate risk.
    IFRS IASB Update March 2025
  • 2024:
    • All GCC countries require IFRS 9 for banks and financial institutions.
    Saudi Arabia: Ongoing SAMA reviews. Qatar, Oman, Bahrain, Kuwait: Focus on model validation and climate risk.
    IFRS Jurisdiction Profiles
  • 2023:
    • Qatar, Oman, Bahrain, Kuwait: No major regulatory changes, but increased focus on ECL model validation.
    QCB Banking Instructions
  • 2022:
    • Continued IFRS 9 compliance and regulatory reporting across GCC.
  • 2025:
    • Kenya, Uganda, Tanzania, Rwanda: IFRS 9 fully adopted for banks. Ongoing focus on digital reporting and climate risk.
    IFRS IASB Update March 2025
  • 2024:
    • Kenya, Uganda, Tanzania, Rwanda: IFRS 9 fully adopted for banks. Regulatory focus on model risk management and climate risk in ECL models.
    IFRS Jurisdiction Profiles
  • 2023:
    • Ongoing regulatory reviews and workshops on IFRS 9 implementation.
    Bank of Tanzania Regulations
  • 2022:
    • Continued focus on ECL model validation and regulatory reporting.
  • 2025:
    • South African Reserve Bank (SARB) continues to require IFRS 9 for all banks. Focus on digital reporting and climate risk disclosures.
    IFRS IASB Update March 2025
  • 2024:
    • South African Reserve Bank (SARB) continues to require IFRS 9 for all banks. Focus on climate risk disclosures and IFRS 18 preparation.
    SARB Notice (if available)  |  IFRS Jurisdiction Profile
  • 2023:
    • Ongoing regulatory reviews and ECL model validation by SARB.
  • 2022:
    • Continued IFRS 9 compliance and regulatory reporting.
  • 2025:
    • Nepal continues to align NFRS (Nepal Financial Reporting Standards) with IFRS 2023/2024. Ongoing focus on ECL and digital reporting.
    IFRS IASB Update March 2025
  • 2024:
    • Nepal is aligning NFRS (Nepal Financial Reporting Standards) with IFRS 2023. Implementation of NFRS 9 (converged with IFRS 9) for banks and financial institutions is ongoing, with full ECL and effective interest method requirements to be enforced by July 2024.
    IFRS Nepal Profile
  • 2023:
    • NRB issued reminders and workshops for NFRS 9 implementation.
    NRB NFRS 9 Implementation (PDF)
  • 2022:
    • Ongoing transition support and regulatory guidance for NFRS 9.

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