Accounting and Auditing Organization for Islamic Financial Institutions information
Bahraini non-profit organization
Accounting and Auditing Organization for Islamic Financial Institutions
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]
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]
^Sajid P.P. "Islamic Banking in the Gulf". Role of Islamic Microfinance in Bahrain Since 2000 (PhD thesis). Jamia Milia Islamia University. p. 66. hdl:10603/195473 – via Shodhganga.
^Shusak Aroonpoolsup. "Bibliography". Islamic financial markets: performance and prospects (PhD thesis). Aligarh Muslim University. p. 291. hdl:10603/11410 – via Shodhganga.
^Waheed, Khalid. "Concept of Murabahah". Critical study of murabahah as an Islamic mode of financing (PhD thesis). Aligarh Muslim University. p. 146. hdl:10603/241907 – via Shodhganga.
^Sajid P.P. "Islamic Banking in the Gulf". Role of Islamic Microfinance in Bahrain Since 2000 (PhD thesis). Jamia Milia Islamia University. p. 67. hdl:10603/195473 – via Shodhganga.
^Smeet Esore. "The Concept and Functioning of Islamic Banking System". Experiments in Islamic Banking: a case study of Saudi Arabia and Thailand (PhD thesis). Aligarh Muslim University. p. 48. hdl:10603/182917 – via Shodhganga.
^Yaqoob, P K (2009). "Theoretical Frame Work". Case for interest free financial institutions in Kerala (PhD thesis). Mahatma Gandhi University. p. 96. hdl:10603/27094 – via Shodhganga.
^Sajid P.P. "Abbreviations". Role of Islamic Microfinance in Bahrain Since 2000 (PhD thesis). Jamia Milia Islamia University. p. 8. hdl:10603/195473 – via Shodhganga.
^Sajid P.P. "Islamic Economics, Banking and Microfinance: Theoretical Perspectives". Role of Islamic Microfinance in Bahrain Since 2000 (PhD thesis). Jamia Milia Islamia University. p. 59. hdl:10603/195473 – via Shodhganga.
^Adam Hayes. "Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)". Investopedia. Retrieved 30 October 2013.
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