AAOIFI

AAOIFI, the Accounting and Auditing Organization for Islamic Financial Institutions, is a non-profit organization that creates standards for Islamic finance. Its guidelines ensure that Islamic banks and financial institutions operate in accordance with Shariah (Islamic law), covering areas like accounting, auditing, governance, and ethics. By providing these standards, AAOIFI promotes transparency, consistency, and trust within the industry, helping ensure that products and services align with Islamic principles. It plays a key role in harmonizing practices across Islamic financial institutions worldwide.