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Sunday 06 Dec 2015 - 13:00 Makkah mean time-24-2-1437
Image from AAOIFI website
Manama, (IINA) - Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is hosting the AAOIFI World Bank annual conference on Islamic banking and finance here on Sunday, Gulf News reported.
The two-day conference is being organized in partnership with the World Bank, and is being held under the auspices of the Central Bank of Bahrain.
Discussions will be on issues relating to continuing development of international Islamic capital markets as avenues for greater financial inclusion, and further progress on standardization and harmonization of international Islamic finance practices.
Specific topics that will be deliberated include standardization and harmonization of Sukuk (Islamic bond) markets, continuing development of sovereign and retail Sukuk, development of Islamic private equity, venture capital and “crowdfunding”, and rating on Sharia compliance and potential rating mechanisms.
The conference is also part of AAOIFI’s ongoing consultative process with the international industry on the development and review of its standards on Sharia, accounting, auditing, ethics and governance.
Eminent Sharia scholars as well as Islamic finance practitioners and academics will be leading the discussions. Participants at the conference comprise Sharia scholars and senior representatives from central banks, regulatory authorities, financial institutions, accounting and auditing firms, legal firms, universities and higher learning institutions, and other Islamic finance stakeholders from the across the world.
The new AAOIFI standards publications and digital versions of AAOIFI standards will be launched at a dinner tonight.
Following the conference, AAOIFI will hold training sessions for its Certified Sharia Adviser and Auditor (CSAA) and Certified Islamic Professional accountant (CIPA) qualification programmes during this week. CSAA and CIPA are designed for Islamic finance professionals to gain technical understanding and assist application of AAOIFI standards in Islamic finance operations.
SM/IINA
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