June 3, 2019 – EMEC – IoBM signs MoU with The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Bahrain to support in IoBMs’ upcoming PGD Islamic Banking & Finance with ESAAC
On June 3, 2019, Entrepreneurship & Management Excellence Center (EMEC) at IoBM signed an MoU with The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). The ceremony was held at IoBM. The MoU is signed by Dr. Irfan Hyder, Rector IoBM & Mr. Omar Mustafa Ansari, Secretary General, AAOIFI, Bahrain. President IoBM, Mr. Talib Karim, CEO ESAAC Mufti Ehsan Waquar from Ehsan Shariah Advisors and Consultants (ESAAC) were also present during the ceremony along with IoBM team members and ESAAC team members.
Under this arrangement, the IoBM become the first institute in Pakistan to become affiliate institute of AAOIFI and the students will get exemptions in CIPA & CSAA courses of AAOIFI.
IoBM plans to bring internationally recognized PGD Islamic Banking & Finance program, in collaboration with ESAAC & AAOIFI. Supporting this initiative, the three parties joined hands together catering to both the seasoned Islamic Banking professionals and newcomers to the industry.
This collaboration will share and draw on the strengths and experiences, exchanges of knowledge, ideas, networks and resources, and capacity building activities between EMEC-IoBM, ESAAC and the AAOIFI.
Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is a Bahrain based not-for-profit organization that was established to maintain and promote Shariah standards for Islamic financial institutions, participants and the overall industry. The Commission also organizes a number of professional development programs (especially the Islamic legal accountant program and the observer program and forensic auditor) in their effort to upgrade the human resources working in the industry and the development of governance structures controls the institutions. http://aaoifi.com/
ESAAC is a Management Consulting & Shariah Advisory firm, providing innovative Ethical/Shariah based solutions & services. ESAAC offers proficient customized services to its clients by blending Shariah knowledge of our scholars with financial skills of our professionals. ESAAC works with leading organizations and offers its services to Full-Fledged Islamic Banks, Islamic Micro Finance Banks, Islamic Banking Divisions of Conventional Banks, Takaful Operators, Re-Takaful Companies, Islamic Mutual Funds and Islamic Asset Management Companies. http://esaac.co/