What are the rules for disclosing of impaired loans?
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A loan is considered to be impaired when it is probable that the lender not likely to collect all of the related principal and interest payments.
Example; a loan is impaired when it is probable that the bank will be unable to collect all amounts due (including both Principal and Interest) according to the contractual terms of the loan agreement.
According to IFRS 7 entities required to provide disclosures in their financial statements that enable users to evaluate:
Disclosures about impaired loans including
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