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Islamic Finance Briefing - Categorized | Accounting and Audit, Compliance, Tax, Legal, Regulatory more

Ernst & Young signs pact on Shariah certification

Posted on 06 March 2013

Ernst & Young signed a working agreement with Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) to assist in Sharia certification of Core Banking Systems (CBS) used by Islamic banks. On the back of this mandate, Ernst & Young is launching its new Advisory Solution, CBS Sharia Assessment, to assist international and regional technology firms.
The agreement was signed by AAOIFI’s Secretary-General Dr Khaled al Fakih and Essa al Jowder, Office Managing Partner, Ernst & Young Bahrain. The certification programme will assess CBS services to ensure that they conform to the approved global Sharia and accounting standards………………………………………..Full Article: Source

 
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