BUSINESS

EMEC-IoBM signs MoU with AAOIFI

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 Ehsan Shariah Advisors and Consultants (ESAAC)
The Entrepreneurship and Management Excellence Center (EMEC) at the Institute of Business Management (IoBM) signed a Memorandum of Understanding (MoU) with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) on Monday, June 3, 2019. The ceremony was held at IoBM. Through this MoU AAOIFI will support IoBM’s upcoming PGD Islamic Banking and Finance with ESAAC.

The MoU was signed by Dr. Irfan Hyder, Rector IoBM and Mr. Omar Mustafa Ansari, Secretary General, AAOIFI, Bahrain. Mr. Talib Karim, President IoBM; Mufti Ehsan Waquar, CEO, Ehsan Shariah Advisors and Consultants (ESAAC) were also present during this ceremony along with team members from IoBM and ESAAC. Under this arrangement, IoBM has become the first institute in Pakistan to be affiliated with AAOIFI. IoBM students will receive exemptions in CIPA and CSAA courses of AAOIFI.  IoBM plans to bring internationally recognized PGD Islamic Banking and Finance program, in collaboration with ESAAC and 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.

ABOUT AAOIFI is a Bahrain based not-for-profit organization 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/)

ABOUT ESAAC is a Management Consulting and Shariah Advisory firm, providing innovative Ethical/Shariah-based solutions and services. ESAAC offers proficiently 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/

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