In January 2015 the Department of Business Development (DBD) under the Ministry of Commerce (MoC), Thailand introduced XBRL for voluntary electronic submission (e-filing) of financial statements of legal entities /businesses for the FY2015 reporting period and onwards. This was done to facilitate rapid and accurate disclosures, vital for transparency, efficiency and accountability.
The Bank of Mauritius is the Central Bank of the Republic of Mauritius. Established in 1967, the Bank is at the epicenter of the Mauritian financial system. It is committed to promoting and maintaining monetary and financial stability of the economy and aims to increase awareness and understanding of its activities and responsibilities, across both general and specialist audiences alike.
The MCI, Saudi Arabia wanted to gather transparent and accurate financial information to help enhance the economic database of its commercial sector. And receiving this information from over 3 million entities in hard copies made it almost impossible to collect data and perform easy, quick analysis. Read how MCI implemented a filing solution leading to easy availability of data for further use and analysis.
Case Study:- The QFCRA, Qatar wanted to upgrade prudential filings to more accurate and automated submissions. The challenge was to maintain data integrity and conduct quick analysis leading to effective, risk-based supervision. Read how QFCRA upgraded its prudential filings using IRIS iFILE.
SCA, UAE, the financial markets's regulator, makes data machine readable and more accessible accompanied with fast transmission. With automated validation, analysis and report generation, SCA has achieved upto 50% of productivity improvements of brokers and plan to reap benefits for listed comanies as well. Read how SCA pioneered XBRL adoption.