Membership Obligations


Membership Obligations

Every applicant shall submit the following information to the AAOIFI General Secretariat according to its desired/corresponding membership category:

1- Constitution documents including memorandum and articles of association, statute, bye-laws or the partnership deed etc.

2- Certificate of registration / incorporation

3- License or statutory / regulatory approval

4- Financial statements of last 3 years

5- Group family tree including information about parent, subsidiary and associated entities

6- Profile of CEO, President or equivalent – and the key concerned official (like Head of Islamic Banking), where applicable

7- Shari’ah  Board list and profiles

8- Application on AAOIFI’s prescribed form

The above requirements apply to most of the categories. The following matrix illustrates where the requirements apply and where they don’t:

Information

Membership for regulatory and supervisory authorities

Associate membership

Observer membership

Supporting membership

Constitution documents

As applicable

As applicable

As applicable

As applicable

Certificate of registration / incorporation

If applicable

Yes

Yes

Yes

License or statutory / regulatory approval

N/A

Yes

Yes

Yes

Financial statements of last 3 years

N/A

Yes

Yes

Yes

Group family tree

N/A

Yes

Yes

Yes

Profile of CEO, President or equivalent

N/A

Yes

Yes

Yes

Shari’ah  Board list and profiles

As applicable

As applicable

As applicable

As applicable

Application on AAOIFI’s prescribed form

Yes

Yes

Yes

Yes