{"product_id":"financial-performance-monitoring","title":"Financial Performance Monitoring","description":"\u003cp\u003e\u003cmeta charset=\"utf-8\"\u003e\u003cspan\u003eA comprehensive financial consolidating procedure exists and is working effectively. All subsidiaries submit their financial data in a format that is compatible with Islamic Accounting Standards issued by AAOIFI and with International Financial Reporting Standards (IFRS). \u003cbr\u003e\u003cbr\u003e\u003cmeta charset=\"utf-8\"\u003e\u003c\/span\u003eThe \u003cspan style=\"font-weight: 400;\"\u003eAccounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) is  an independent international Islamic organisation that develops, issues and maintains accounting, auditing, governance ethics and Shari'ah standards for the Islamic financial industry. AAOIFI was established in Algiers and is currently based in Bahrain.\u003c\/span\u003e\u003c\/p\u003e\n\u003cp\u003eAAOIFI is supported by institutional members including central banks, Islamic financial institutions, and other participants from the international Islamic finance industry.\u003cbr\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cspan\u003eAAOIFI is the leading global setter of Islamic finance Shari'ah standards. AAOIFI prepares and interprets Shari’ah standards for Islamic financial institutions in order to achieve harmonisation in the concepts and application of Shari'ah law and ensure consistency in the practices of the Islamic financial institutions.\u003c\/span\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cspan\u003eAAOIFI standards are developed in consultation with leading Shari'ah experts internationally. AAOIFI continually updates its scope to include the various new financial instruments entering markets around the world.\u003c\/span\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cspan\u003eAAOIFI standards are now adopted in the Kingdom of Bahrain, Dubai international financial centre, Jordan, Lebanon, Qatar, Sudan, Syria, Australia, Indonesia, Malaysia, Pakistan, Kingdom of Saudi Arabia and South Africa.\u003c\/span\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cspan\u003eAAOIFI also provides professional development training programmes in the form of certified Shari'ah Advisor and Auditor (CSAA) and Certified Islamic Professional Accountant (CIPA) with a view to enhance the industry’s human resource base and governance structures.\u003c\/span\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cspan\u003eAl Baraka subscribes to AAOIFI to establish and maintain Shari'ah standards and practices.\u003c\/span\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cspan\u003e\u003cbr\u003e\u003c\/span\u003e\u003cspan\u003e\u003c\/span\u003e\u003c\/p\u003e","brand":"Al Baraka Bank ","offers":[{"title":"Default Title","offer_id":48302078591194,"sku":null,"price":0.0,"currency_code":"ZAR","in_stock":false}],"url":"https:\/\/www.albaraka.co.za\/products\/financial-performance-monitoring","provider":"Al Baraka Bank ","version":"1.0","type":"link"}