28 April 2025

In response to the queries raised regarding the draft Shari’ah Standard No. 62 on Sukuk, the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) confirms that the standard aims to comprehensively meet the industry’s requirement to issue Sukuk according to the varying needs of the
issuers. The organisation confirms that the AAOIFI Shari’ah Board is now in the process of amending the first published draft version of the standard in the light of the comments received from the industry.
H.E. Shaikh Ebrahim Bin Khalifa Al Khalifa, Chairman of AAOIFI Board of Trustees, explained that standard No. 62 is still in the draft stage, has not been finalised by the organisation and is subject to extensive consultations. He also stressed that the standard, when issued in its final form, will be
compatible with best practices to meet the needs of the market, all within a practical framework of Shari’ah control that has been followed by the AAOIFI standards.