بسم الله الرحمن الرحيم Dengan nama Allah, Yang Maha Pemurah, lagi Maha Mengasihani In the name of Allah, the Beneficent, the Merciful AAOIFI to perform temporary watchdog role 01 October, 2009 The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) has announced its intention to monitor Islamic financial products in the absence of a sector watchdog. AAOIFI stated it plans to ‘screen products and services offered by the industry for Shari’ah compliance’. According to Mohamad Nedal Alchaar, secretary general of the organisation, the move would help to ‘homogenise the market’.
‘Although AAOIFI is not taking on a permanent role of industry watchdog, there exists a current huge gap in the market relating to credible Shari’ah compliance screening of products and services,’ stated Alchaar. Currently, the Islamic financial industry must rely on different standard-setting bodies, such as AAOIFI in Bahrain and the International Financial Services Board (IFSB) in Malaysia, which recently issued new governance and capital adequacy guidelines (NewHorizon, April–June 2009). The guidance of individual, qualified Shari’ah scholars also plays an important role, as do national governments in countries which practice Islamic finance. An example of the difficulties facing the industry came with comments from Shaikh Muhammad Taqi Usmani, head of the Shari’ah committee of AAOIFI, pronounced in February 2008 that many sukuk issues up to that point were not Shari’ah-compliant. This resulted in a sharp drop in new issues of sukuk, despite having doubled every year since 2004 (NewHorizon, October–December 2008). As well as preparing accounting, governance, ethics and Shari’ah standards for Islamic banking and financial institutions, AAOIFI already provides product and auditing standards which are mandatory in seven countries across the Islamic world (Dubai, Bahrain, Jordan, Lebanon, Qatar, Syria and Sudan). Alchaar stated that AAOIFI wants to screen products of all institutions, not just those which are members of AAOIFI, and not just those in the seven countries listed. ‘It will be market-wide, regardless of the geographic distribution of products,’ he said. AAOFI plans to submit a proposal to this effect to its board of trustees by the end of 2009. اللهم صلي على محمد وعلى آله وصحبه وسلم >ALLAH BLESSES MOHAMMAD AND GIVES HIM PEACE > > >Thank you >Sincerely >NIDAL ALSAYYED > >http://www.linkedin.com/in/alsayyed >>>>> >>>>> >>>>> >>>>>Thank you. >>>>> >>>>> مجموعة نضال لدراسة الصيرفة والتمويل الإسلامي.. >>>>>Islamic Banking and Finance research studies >>>>>http://groups.google.com/group/nidal_islamic-finance >>>>> >>>>> >>>>>Current responsibility: PhD Student Researcher at www.INCEIF.org & >>>>>www.ISRA.my >>>>>Email: [email protected] [email protected] [email protected] or >>>>>[email protected] >>>>>Kuala Lumpur, Malaysia - Tel. +6017 255 9700 +6017 255 9700 >>>>>INCEIF >>>>>The Global University in Islamic Finance >>>>>Level 2, Annexe Block >>>>>Menara Tun Razak >>>>>Jalan Raja Laut >>>>>50350 Kuala Lumpur >>>>>MALAYSIA >>>>> +6017 255 9700 +6017 255 9700 (T) >>>>>+603 414 70 700 +603 414 70 700 (F) >>>>>www.inceif.org >>> --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kantakji Group" group. To post to this group, send email to [email protected] To unsubscribe from this group لفك الاشتراك من المجموعة أرسل للعنوان التالي رسالة فارغة, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kantakjigroup?hl=en سياسة النشر في المجموعة: - ترك ما عارض أهل السنة والجماعة. - الاكتفاء بأمور ذات علاقة بالاقتصاد الإسلامي وعلومه ولو بالشيء البسيط. ويستثنى من هذا مايتعلق بالشأن العام على مستوى الأمة كحدث غزة مثلا. - عدم ذكر ما يتعلق بشخص طبيعي أو اعتباري بعينه. باستثناء الأمر العام الذي يهم عامة المسلمين. - تمرير بعض الأشياء الخفيفة المسلية ضمن قواعد الأدب وخاصة منها التي تأتي من أعضاء لا يشاركون عادة، والقصد من ذلك تشجيعهم على التفاعل الإيجابي. - ترك المديح الشخصي. -~----------~----~----~----~------~----~------~--~---
