AAOIFI moves to seize control of Shariah Finance
On January 20, 2010 · In AAOIFI, Accounting, Bahrain, Creeping Shariah, Da'Wah, Islamic Finance, Sharia Compliant, Shariah Boards, Shariah Councils, Shariah Finance, Usmani
In a move that is being hailed by the Western financial media as a positive development, the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) has issued a series of standards and procedures for Shariah-Compliance.
It is hoped that the AAOIFI will “harmonize” standards across the industry.
If only Western journalists had bothered to check into the background of the people at AAOIFI, then they would be worried about such an organization having so much power and authority:
https://shariahfinancewatch.org/2009/08/11/aaoifi-to-keep-tabs-on-shariah-products/
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