DAB, AAOIFI sign cooperation agreement

KABUL (Pajhwok): Da Afghanistan Bank (central bank) has signed a cooperation agreement with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) on Islamic banking, capacity building and training programs.

The Bahrain-based not-for-profit organization AAOIFI was established to maintain and promote Shariah standards for Islamic financial institutions, participants and the overall industry on February 26, 1991 and currently it has more than 100 members.

Da Afghanistan Bank in a press release said the agreement with AAOIFI was signed two days ago during the annual meeting of the organization attended by representatives of the central banks of Islamic countries and other Islamic financial institutions and banks.

Under the agreement, both sides would cooperate in the fields of Islamic banking and financing, capacity building, training programs and awareness.

The agreement will enable Da Afghanistan Bank to introduce high-ranking employees based on their expertise and experience to participate in the meetings of AAOIFI’s sub-committees, working groups and technical boards and attend international conferences organized by the institution.

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