AAOIFI completed Islamic finance training courses

 

24 June 2010
Source : AAOIFI

Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) – the international organization that formulates and issues standards on accounting, auditing, ethics, governance, and Shari’a for Islamic finance industry – recently completed training courses for its Certified Shari’a Adviser and Auditor (CSAA) and Certified Islamic Professional Accountant (CIPA) professional development programs. Participants at the courses included Islamic finance practitioners and academicians from instutitions in the Kingdom of Bahrain and other countries across the world.

The courses were conducted from 28 May to 1 June 2010 following the conclusion of the AAOIFI Annual Shari'a Conference on 26 and 27 May 2010. During these two courses, the participants were given technical explanations of international Islamic finance standards issued by AAOIFI. Understanding of such standards enables the participants to properly apply them in order to ensure financial products comply with Shari’a. This helps Islamic finance industry to achieve growth without compromising Shari’a principles.

In this regard, Dr. Mohamad Nedal Alchaar, the Secretary General of AAOIFI said that "AAOIFI is committed to offer training programs that help participants on technical application of international Islamic finance standards to their work. The accredited CIPA and CSAA programs offered by AAOIFI are of great importance because they also relate to the principles and controls that govern Islamic finance practices."

Dr. Alchaar added that "During the recent AAOIFI Annual Shari'a Conference, more than 100 Islamic finance professionals received their CIPA and CSAA graduation certificates having passed the qualification examinations during previous intakes. Consequently, the number of CIPA and CSAA professional qualification holders has so far reached more than 1,000 since the programs started. This is an indication of AAOIFI’s greatsuccess in achieving one of its main missions and of the global credibility of AAOIFI’s professional development programs."

Dr. Alchaar concluded his statement by saying "the next CIPA and CSAA training courses will be held in early December 2010 as part of AAOIFI’s continuing effort on training for international Islamic finance standards."
AAOIFI is an international autonomous not-for-profit organization supported by over 200 members from over 40 countries.