AAOIFI Requires Three Layers of Shariah Governance
- 1 An Internal Shariah Auditor
- 2 An Active Shariah Advisory Board
- 3 An Independent Auditor
Why AAOIFI Compliance 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 AAOIFI Compliance, investment solutions, or other matters related to getting a halal mortgage in Canada? Get in touch with our friendly staff to have all of your questions about Islamic financing answered.