Welcome Page
Welcome to the introductory page
for Ifsah portal, CMA's XBRL based electronic
filing platform
The XBRL Language
XBRL (eXtensible Business Reporting Language) is a non-proprietary open standard that is widely used for the preparation, exchange, and publishing of business information in an electronic format, optimized for transmission over the internet. As an open international standard for digital business reporting, XBRL facilitates the communication and exchange of both financial and non-financial information among various parties in the economy. It employs a system of tagging reporting elements, known as taxonomies, which define and represent the contents of reports in a way that is both human-readable and machine-readable. This tagging system is built around XML and is based on the concept of metadata, making XBRL data inherently contextual and enabling software to accurately interpret and process it. The adoption of XBRL ensures seamless interchange of information between different information systems and enhances the efficiency of reporting and data exchange in financial markets.
XBRL International
XBRL International is a non-profit consortium that oversees the XBRL specifications and promotes the adoption of XBRL around the world. It comprises nearly 650 entities from the public and private sectors worldwide, including government agencies, accounting firms, technology companies, and financial regulators. These members collaborate to enhance the efficiency of reporting and data exchange in financial markets, contributing to the development and refinement of the XBRL standard.
The consortium's efforts are focused on improving the transparency, comparability, and accessibility of business information. It provides support, resources, and a collaborative environment for members to share best practices and innovations in reporting technology. XBRL International also works closely with regulatory bodies to encourage the use of XBRL for filing and analyzing data, thereby improving the quality of information available to investors and other stakeholders.
Through its global network, XBRL International facilitates the harmonization of reporting requirements, helping to reduce the burden on reporting entities operating in multiple jurisdictions. The organization's commitment to open data standards ensures that financial information is not only more accessible but also more actionable, enabling better decision-making across the financial ecosystem.
The Capital Markets Authority (CMA) of Kuwait is a member of XBRL International, demonstrating its commitment to advancing the quality and efficiency of business reporting in the State of Kuwait and contributing to the global XBRL community.
Main Features
XBRL offers a range of features designed to improve the reporting, analysis, and dissemination of business information:
- Flexible Exchange: XBRL enables the flexible exchange of a wide variety of financial and non-financial data, accommodating diverse reporting needs and facilitating cross-border information flow.
- Standardized Reporting Elements: The standardization of reporting elements in XBRL ensures clarity and ease of use. This uniformity allows users to understand and utilize the data consistently.
- Customizable Elements: XBRL is adaptable, allowing for the creation of custom reporting elements to meet specific regulatory requirements or to capture unique aspects of business information.
- Efficient Analysis: The electronic nature of XBRL data allows for efficient analysis and comparison by regulatory authorities and information consumers, streamlining the decision-making process.
- Timely and Credible Dissemination: XBRL ensures the timely and credible dissemination of data to stakeholders, enhancing transparency and trust in the reported information.
Who Else Uses XBRL?
The Countries highlighted in blue are adopting XBRL reporting language
Reporting Domains in XBRL
Ifsah portal encompasses several key reporting domains:
- Financial Statements Reporting Domain (FS and CAR): Includes financial statements and capital adequacy filings.
- Disclosures Reporting Domain: Covers all mandatory disclosures required by the CMA.
- General Assembly Reporting Domain: Facilitates the filings required for general assembly meetings by CMA.
