Accounting and Auditing Organization for Islamic Financial Institutions

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)

What Is the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)?

 The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is a not-for-profit organization that was established to maintain and promote Shari’ah standards for Islamic financial institutions, participants, and the overall industry. The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) was created on February 26, 1990, to ensure that participants conform to the regulations set out in Islamic finance.

The founding and associate members, as well as the regulatory and supervisory authorities of the Accounting and Auditing Organization for Islamic Financial Institutions, define the acceptable standards for various functions. This includes areas such as accounting, governance, ethics, transactions, and investment.

KEY TAKEAWAYS

  • The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) oversees Islamic banking to ensure its members follow the rules and prohibitions set forth by Shari’ah law.
  • The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) oversees Islamic banking to ensure its members follow the rules and prohibitions set forth by Shari’ah law.
  • Due to the increased role of global finance, and the importance of Arabic and Muslim regions in the world economy, AAOIFI is constantly updating its best practices and guidelines to adjust for new innovations such as hedging instruments and derivatives.

Register with us and take the following Professional AAOIFI Examinations

CERTIFIED ISLAMIC PROFESSIONAL ACCOUNTANT (CIPA)

  1. CIPA – Exam Registration Form (Download)
  2. CIPA – Payment Option Form (Download)
  3. CIPA – Exemption Form (Download)

CERTIFIED SHARI’AN ADVISER AND AUDITOR (CSAA)

  1. CSAA – Exam Registration Form  (Download)
  2. CSAA – Payment Option Form (Download)