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Manama – Kingdom of Bahrain:
AAOIFI—during its recently concluded 13th AAOIFI-World Bank Annual Conference which was held under the patronage of the Central Bank of Bahrain (CBB)—awarded the UAE-based Minhaj Advisory the status of being the first and currently the only ‘Gold Certified Education Partner’ in the world.
An Agreement for the same was signed by Mr. Omar Mustafa Ansari, Acting Secretary General of Accounting & Auditing Organization for Islamic Financial Institutions, and Dr. Amin Fateh, General Manager of Minhaj Advisory, in the presence of hundreds of attendees who participated in the event from more than 20 countries.
Speaking at the occasion, Mr. Ansari congratulated Minhaj Advisory and said, “We, at AAOIFI, are proud of working with Minhaj Advisory over the past decade and this award is an overdue recognition of their services in promoting AAOIFI standards on multiple fronts: through participation in standards development process, delivering high-quality training in CIPA and CSAA programs, being an Exam Center and by supporting AAOIFI in the conduct of Public Hearings. We hope that our relationship only strengthens and enriches in future as we share a common vision of human resource development in the area of Islamic finance.”
Dr. Amin Fateh thanked AAOIFI for recognizing their services and emphasized the need for standardization in order to secure the future of Islamic Finance. He said, “Minhaj Advisory is of the strong belief that the global Islamic finance industry must benchmark their Shari’ah and Accounting practices, at the very minimum, to the standards issued by AAOIFI. This is the only way to assure the customers and the investors of the trust and confidence they need that the products and services of the institutions are compliant with the rules and principles of Shari’ah. In this regard, we appreciate the decision of the Shari’ah Higher Authority of Central Bank of UAE (CBUAE) to adopt the AAOIFI Shari’ah Standards.” He added that “Minhaj Advisory will continue to support and promote AAOIFI standards and its professional fellowship programs in the country.”
AAOIFI currently offers two professional fellowship qualifications, namely the ‘Certified Islamic Professional Accountancy’ (CIPA) and the ‘Certified Shari’ah Advisor and Auditor’ (CSAA). Minhaj Advisory, as a Gold Certified Education Partner, is now able to offer additional discounts to potential candidates and also deliver high-quality bi-lingual training (Arabic and English) required to master the curriculum.
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About AAOIFI
The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is an international non-profit organization based in the Kingdom of Bahrain. The Organization is responsible for developing and issuing of the financial accounting standards, auditing, control, code of ethics and Shari’ah Standards for Islamic financial institutions in particular, and the Islamic banking and finance industry in general. The Organization also organizes a number of professional development programs (especially the Islamic Chartered Accountant Program, the Controller Program and the Sharia Auditor) in its endeavor to raise the level of human resources working in this industry and to develop the controls and governance structures of its institutions.
About MINHAJ Advisory
"MINHAJ Advisory" is a firm specialized in providing Shari’ah financial advisory services, supervision, Sharia auditing, revision and training services for Islamic and traditional financial institutions. It is the outcome of a partnership between a number of the most prominent scholars and specialists in the Islamic financial services industry worldwide. The Company complies with the Shari’ah Standards established by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). MINHAJ has experienced experts who are mastering the Islamic financial consultancy and training for more than 30 years. MINHAJ offers its services in Arabic and English.
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