Learn More About Islamic Finance in Canada and the AAOIFI

Manzil is a pioneer of Islamic finance in Canada, and the first Canadian member of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).


What is AAOIFI?

AAOIFI, based out of Bahrain and regulated by the Central Bank of Bahrain, is the Accounting and Auditing Organization for Islamic Financial Institutions.

AAOIFI Requires 3 Layers of
Shariah Governance

Being a member of AAOIFI is a testament to Manzil's commitment to providing ethical and transparent financial solutions to our clients. It also reflects our dedication to upholding the highest standards of governance, accountability, and professionalism in all our operations.


An Independent External Shariah Audit


An Active Shariah Advisory Board


Compliance Function

Why AAOIFI Matters

AAOIFI includes scholarly opinions from several Muslim schools of thought and is generally considered to be the gold standard for Islamic finance rules. Eighteen countries have adopted AAOIFI standards for their Islamic finance industries, and the Islamic finance authorities in another six countries issued guidelines for Shariah compliance derived from AAOIFI standards.

Many banks, investment firms, capital market institutions, auditing firms, and training institutions also follow AAOIFI standards.

Have questions about our AAOIFI compliance?