The Accounting and Auditing Organization for Islamic Financial Institutions

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is a global body that establishes standards and guidelines for Islamic finance. It aims to ensure that financial practices comply with Islamic law (Sharia) and promote transparency, accountability, and ethical practices in Islamic finance institutions. AAOIFI develops and issues accounting, auditing, governance, and Sharia standards, helping institutions maintain integrity and trustworthiness. By providing these frameworks, AAOIFI supports the growth and stability of the Islamic finance industry, benefiting both institutions and their customers.