AAOIFI-World Gold Council Committee conducted its 3rd meeting to discuss the Shari’ah Standard on Gold

Following the initiative that was launched by the Accounting and Auditing Organization for Islamic Financial Institution (“AAOIFI”) in its cooperation with the World Gold Council and Amanie Advisors in preparing the first detailed Shariah standards on the rules pertaining to gold and its related financial products, the third Shariah sub-committee meeting was held in Dubai, on Saturday, 27th of February 2016. The sub-committee will complete reviewing and discussing the standard draft in its next meeting in April 2016.
Earlier, AAOIFI’s Shari’ah Board approved the project and its theme and structure, and formed a subcommittee to conduct a thorough study and prepare a standard drawing, for technical aspects, on expertise of both the World Gold Council and Amanie Advisors.