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E&Y, AAOIFI ink Shari’a agreementErnst & Young has signed a working agreement with Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) to assist in Shari’a certification of core banking systems (CBS) used by Islamic banks. O More… |
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Dubai hopes sukuk standards to make it global playerDubai aims to become a top global centre for Islamic bonds by introducing more detailed standards that ensure issuance and trading obey not only the letter but also the spirit of Islamic rules, a securities market official said. T More… |
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Customers' interests ‘top priority for banks’Too often over the past five years the interests of customers at banks have been neglected as bank management has focused on bonuses and share price, said the Governor of the from Central Bank of Bahrain (CBB). If banks neglect customers' More… |
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New markets eye Islamic finance pushThe global financial crisis has created a lot of interest around the world in Islamic finance and not only in Muslim countries, said an expert. The potential from new markets will help Islamic finance to spread a lot wider and grow, accord More… |
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Ithmaar Bank backs major Sharia forumIthmaar Bank, a Bahrain-based retail bank, has once again extended its support for a major Accounting and Auditing Organisation for Islamic Financial Institution (AAOIFI) event in Bahrain. Ithmaar, a long-time AAOIFI supporter, is the plat More… |
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AAOIFI issues 7 standards for Islamic financeThe Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) has introduced new guidelines for applying religious law to finance, as it prepares to launch a sweeping review of the industry. The seven new standards, More… |
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Islamic finance rules set for major reviewIslamic finance may face its biggest shake-up in years as a top standard-setting body seeks to reform the way the industry does business, including the role of highly paid scholars in enforcing religious principles. Khaled Al Fakih, the ne More… |
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AAOIFI proposes Islamic accounting changesThe Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) has proposed more detailed accounting standards for real estate while increasing disclosure for Islamic banks' investment accounts. The move by the Bahrai More… |
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Islamic finance 'set for solid growth'Islamic finance is continuing to go from strength to strength and in the near future the industry is likely to see a period of consolidation, said a top banking expert. 'Mergers within the industry will make it more efficient through e More… |
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Accounting conference sees record turnoutAround 400 delegates from over 20 countries from as far afield as South Africa, North Africa, Asia and Europe took part in this year's Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) conference held in Bahrain More… |
