AAOIFI Standards

AAOIFI, or the Accounting and Auditing Organization for Islamic Financial Institutions, sets standards for Islamic finance. These guidelines ensure that financial practices comply with Islamic law (Sharia). They cover areas like accounting, auditing, governance, ethics, and Sharia compliance. AAOIFI standards aim to enhance transparency, accountability, and trust in Islamic finance products, such as banking and investments. By providing a framework for sound practices, they help institutions maintain integrity while serving the diverse needs of their clients in ethically responsible ways.