Accounting and Auditing Organization for Islamic Financial Institutions
Bahraini non-profit organization / From Wikipedia, the free encyclopedia
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Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)[7] is a Bahrain-based not-for-profit organization that was established to maintain and promote Shariah standards for Islamic financial institutions, participants and the overall industry.[8] The commission also organizes a number of professional development programs (especially the Islamic legal accountant program, observer program and forensic auditing program) in their effort to improve the industry.[9]
Quick Facts Abbreviation, Formation ...
Abbreviation | AAOIFI |
---|---|
Formation | February 26, 1990; 34 years ago (1990-02-26)[1] in Algeria. |
Founders | Islamic Development Bank, Dallah Al-Baraka, Faysal Group (Dar Al Maal Al Islami), Al Rajhi Banking & Investment Corporation, Kuwait Finance House and Al-Bukhary Foundation |
Type | Independent international not-for-profit organization |
Purpose | Standardization[2][3] and harmonization of international Islamic finance practices and financial reporting in accordance to Sharia[4][5][6] |
Headquarters | Manama, Bahrain |
Location |
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Coordinates | 26°14′2″N 50°34′38″E |
Region served | Worldwide |
Official language | English, Arabic |
Main organ | General Assembly |
Website | www |
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