Episode 49-Setting the Standard: AAOIFI's Impact on Islamic Finance

In this exclusive episode, we’re joined by Omar Ansari, Secretary General of Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)—the global standard-setter for Islamic finance.

In this depth conversation, we  covered several topics including:

• AAOIFI’s role in shaping the industry
• Why standardisation and implementation are important
• Deep dive into Sharia standards 59 and 62

Email us: hassan@majlisandmarkets.com

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Intro theme song-Desert Meditation by omar sahel via Pixabay 

Chapters

• 0:45 Monologue intro
• 1:23 Beginning of discussion
• 2:30 Omar's background
• 9:29 Joining AAOIFI
• 14:15 Day-to-day activities
• 18:49 AAOIFI's mandate
• 22:31 Standard methodology
• 27:38 Why is standardisation important?
• 33:32 Adoption of AAOIFI standards
• 36:26 UAE's HSA and AAOIFI standards
• 43:34 Sharia Standard 59
• 51:49 Sharia Standard 62
• 57:17 Asset backed vs Asset based sukuk
• 1:01:00 Sukuk market fragmentation risk
• 1:05:38 Upcoming standards
• 1:08:31 Getting in touch; social media