Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is a non-profit organization that creates and maintains standards for Islamic finance. It develops rules for how Islamic banks and financial institutions should report their finances and conduct audits, ensuring consistency, transparency, and compliance with Islamic principles. AAOIFI’s guidelines help these institutions operate ethically and gain trust from customers and investors, all while aligning with Shariah law and safeguarding the integrity of Islamic financial practices.