AAOIFI issues the exposure draft of the governance standard “Syndicated Financing” in Arabic and announces the date for its next public hearing

AAOIFI completed the Arabic translation of the exposure draft of governance standard “Syndicated financing”. The English version of the exposure draft was issued previously.

The standard sets out the essential requirements related to Shari’ah compliance, transparency, fair dealings / avoiding conflict of interest and other good governance practices as applicable at various stages / phases of a syndicated financing transaction. Such phases include award of mandate, marketing and negotiation, transaction close, continuity of the transaction and its maturity / liquidation (whether early or as per original maturity).

AAOIFI  in collboration with UAE Banks Federation (UBF) and  Bahrain Association of Banks (BAB) will hold a public hearing in Arabic for the said standard on Thursday, 27 October 2022 from 10:00 am – 1:00 pm (Bahrain Time, GMT+3).

The purpose of the public hearings is to receive views and feedback from the stakeholders in 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.

Link to the exposure draft of the governance standard (GS) “Syndicated Financing” (in Arabic):_

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

 You may send your written comments on the exposure draft to the following email address, no later than Thursday 27 October 2022.

[email protected].

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