AAOIFI has completed the Arabic translation of the exposure draft of governance standard on “Institutional Framework for the Implementation of Ethics”. The English version of the exposure draft has been issued previously.

This standard specifies a framework for institutionalising ethical conduct. Its principle-based guidance aims to ensure that institutions build a framework that is flexible and able to accommodate their specific needs and requirements based on the availability of resources and their unique circumstances.

AAOIFI will hold a public hearing in Arabic for the said standard in collaboration with Bahrain Association of Banks (BAB)- Bahrain, UAE Banks Federation (UBF) – UAE and Arab Monetary Fund (AMF) – Abu Dhabi, UAE on Thursday, 1 June 2023 from 10:00 am – 12:00 pm (Bahrain Time, GMT+3) to receive views and feedback from the stakeholders of the Islamic financial industry in the form of questions, recommendations, comments and suggestions which will be presented to the relevant working group and board for consideration.

To access the exposure draft of the governance standard (GS) “Institutional Framework for the Implementation of Ethics” (in Arabic): link

To register for the public hearing, please click on: link

Written comments on the exposure draft may be sent to the following email address [email protected].