Search for Islamic financing standards

The Islamic finance industry is rapidly growing and evolving. While there are still many outstanding issues – and no doubt there will continue to be as the industry evolves – standards are important.

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They give shape to the market and help define the characteristics of the industry as well as providing the basis for continuing development, according to Dr Mohamad Nedal Alchaar, secretary general of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).

AAOIFI is an Islamic international, autonomous, non-for-profit corporate body that prepares accounting, auditing, governance, ethics and Shariah standards for Islamic financial institutions and the industry

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