Minhaj University Lahore has signed another Memorandum of understanding at 2ndWorld Islamic Economics & Finance Conference, WIEFC 2019 with Accounting and Auditing Organizations for Islamic Financial Institutions, AAOIFI, Bahrain. The MOU was signed by Mr. Farhan Noor, Head of Professional Development, AAOIFI and Dr. Aslam Ghori Vice-Chancellor MUL. By this MOU, Minhaj University, Lahore will act as an Education Partner with AAOIFI in offering an Islamic accountancy professional qualification “Certified Islamic Professional Accountant, CIPA” based on the AAOIFI’s Accounting and Shariah Standards to enrich the capabilities and enhance the skills of industry’s human capital by developing expertise in Islamic finance accounting, financial reporting, audits, and shariah audits.
Introduction of AAOIFI: AAOIFI—established in 1991 and currently the leading international non-profit standard-setting organization for the Islamic Finance Institutions—offers fellowship programs based on the AAOIFI Shari’ah, Accounting, Auditing, Governance, and Ethics standards. Since 2006, AAOIFI has been offering the ‘Certified Islamic Professional Accountant’ (CIPA) and the ‘Certified Shari’ah Advisor and Auditor’ (CSAA) Fellowships.