The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is pleased to announce that it has been awarded gold status of the Approved Employer program by the Association of Chartered Certified Accountants (ACCA).

The ACCA approved employer program recognizes an employer’s high standards of staff training and development, and AAOIFI is committed and continue to ensure ACCA students, and affiliates who would join AAOIFI gain the right skills and competences.

Trainees studying towards their ACCA qualification as well as, trainees studying towards the Certified Accounting Technician (CAT) qualification, subject to AAOIFI approval, may claim exemption from the performance objective (PO) component of their practical experience requirements (PER) or foundations in practical experience requirements (FPER), respectively to gain their full membership from ACCA.

On this occasion the secretary general of AAOIFI, Mr. Omar Mustafa Ansari expressed his gratitude to ACCA for recognizing AAOIFI for its Approved Employer program and stated that “AAOIFI is confident this collaboration through the ACCA Approved Employer program ensures the highest standards of attraction and retention of ACCA trainee for AAOIFI”. He also added that “there is great learning opportunity available at AAOIFI and we look forward to training the future professionals of Islamic finance”.

Head of ACCA Middle East – Ms. Fazeela Gopalani added, ‘We are delighted to provide formal recognition to AAOIFI in support of their commitment to providing learning and development opportunities which strengthens the accountancy skillsets and continue to drive the profession forward both locally and across the world. This award solidifies our partnership and brings tremendous opportunities for people in Bahrain whilst continuing to give ACCA the chance to also demonstrate our global connections which benefits our employers.

Earlier, in 2017, AAOIFI and ACCA signed a Memorandum of Understanding (MoU) which allowed for coollaboration and cooperation between the two organizations on multiple fronts: AAOIFI offered special exemptions to ACCA professionals in module exams and practical experience requirement of the AAOIFI’s Certified Islamic Professional Accountant (CIPA) fellowship; ACCA promoted several public hearing of AAOIFI over the years and also recognized the same for CPD requirement of its fellows and AAOIFI and ACCA partnerned with Deloitte to conduct a successful webinar on FAS 35 “Risk Reserves”