Instruments from the perspective of the Islamic Financial Institutions Accounting and Auditing Authority ((AAOIFI))

Abstract

The Islamic bodies play an active role in the governance of Islamic instruments and in the mobilization of capital towards banks, as they are based on the foundations and principles of Islamic jurisprudence, with all the confidence they have in them. The Commission for the Accounting and Auditing of Islamic Financial Institutions is perhaps the most prestigious and most prominent body in this area. It is responsible for preparing the standards to be applied by Islamic banks.