The International Accounting Standards Board (IASB) has published the Exposure Draft of Amendments to IFRS 9 "Financial Instruments" and Proposed Amendments to IFRS 7 "Financial Instruments: Exposures"
Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by Accounting Standards Council, commented on the Exposure Draft. SOCPA agrees with the proposed amendments that permit an entity to derecognize a financial liability that is settled using an electronic payment system. In addition, SOCPA suggested expanding the criteria to include regulatory and operational requirements and raised the issue of how currency risk would be addressed when payment involves cross-border transactions & different currencies.
Concerning the classification of financial instruments related to ESG-linked features, SOCPA suggested that the proposed explanations and clarification could be incorporated into the main body of the standard with the need for more illustrative examples. 
In its comment, SOCPA clarified that the proposed disclosures regarding financial instruments with potential payments, as is the case with financial instruments that have property rights characteristics, will need more effort by the management, which may reduce the possibility of comparison.
The comment of SOCPA can be viewed by clicking here.