NIB is backing what could be Islamic finance’s biggest shake up in years, lending its support to the announcement of seven new standards from the Middle East’s leading Islamic finance regulator, the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI).
The new standards govern key areas of Islamic finance, including financial rights and their management; liquidity management; bankruptcy; capital and investment protection; agency investment; calculation of profits transaction and options of trust………………………………………..Full Article: Source