The Kabul times, Afghanistan Trustable News Agency.
EconomicNational

Da Afghanistan Bank signs MoU with AAOIFI

KABUL: A Memorandum of Understanding (MoU) has been signed between Da Afghanistan Bank — the country’s central bank — and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), in Bahrain, DAB said in a statement the other day. Based on the MoU, the parties cooperate in the development of Islamic banking and issues relating to financing, capacity building and educational and awareness programs, according to the statement. Also, Da Afghanistan Bank will be able to introduce high-ranking employees based on their expertise and experience to participate in sub-committees, working groups and technical board meetings and in international conferences organized by (AAOIFI). This should be noted that representatives of central banks of Islamic countries and representatives of other financial institutions and Islamic banks were also present in the meeting. Accounting and Auditing Organization for Islamic Financial Institutions was established on February 26, 1991, in Bahrain for the purpose of the cooperation agreement between Islamic financial institutions and currently it has more than 100 members. The vision of this institution is to guide the performance of Islamic financial markets, financial reporting based on Sharia principles and rules, and using the best practices in Islamic financial markets, which provides the basis for the growth of the industry. The Kabul Times

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The Kabul times, Afghanistan Trustable News Agency.