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AAOIFI and Ernst and Young to cooperate on Islamic core banking system certification

Posted on 20 February 2013

Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and Ernst & Young have entered into an exclusive agreement to carry out certification of financial software products or core banking systems for Islamic banking and finance industry.
The certification program will see AAOIFI and Ernst & Young working together in benchmarking financial software products or core banking systems against AAOIFI’s Shari’a and Accounting standards. Under the certification program, banking and financial information technology providers will have the opportunity to properly incorporate AAOIFI standards in their products and systems…………………………………….Full Article: Source

 
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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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