Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) has held a special trainingش course for a host of senior managers and staff members of the Capital Market Authority (CMA) in Riyadh, Kingdom of Saudi Arabia. The 2-day course has covered essentials of Islamic economics and finance, as part of the training programs provided by CMA to its staff and employees.

The course was delivered by two key experts in the area of global Islamic finance, Sh. Dr. Yousef Al Shubaily and Dr. Sami Abdullah al-Suwailem.

In this respect, Dr. Hamed Hasan Merah, Secretary General, AAOIFI, stated that: “Saudi Arabia’s financial and banking market are among the largest and most significant Islamic financial and banking sectors around the globe. Therefore, AAOIFI was very keen to address the training requirements of the Capital Market Authority as reflected in this outstanding program. The program’s content drew on AAOIFI’s 25-year expertise in the area of Islamic economics and finance. Through this cooperation, we look forward to fostering our professional and technical relationship with the Capital Market Authority and other regulatory and supervisory authorities in Saudi Arabia and other countries.”

AAOIFI’s active institutional membership includes more than 13 regulatory and supervisory authorities (for capital markets, insurance and finance) and central banks. AAOIFI provides its technical and professional services to a number of supervisory and regulatory bodies across the globe.