The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), in the 27^th meeting of its Governance and Ethics Board (AGEB / the board), approved the issuance of the exposure draft on institutional framework for the implementation of ethics.

This standard seeks to facilitate the institutions in implementing the AAOIFI Code of Ethics for Islamic Finance Professionals (which was issued by AAOIFI in 2009), as well as, the broader ethics function, through an institutional framework based on certain principles and components.

Industry stakeholders are invited to provide their feedback on the exposure draft to AAOIFI during the public hearings, in writing and / or through email (governance@aaoifi.com). The schedule of public hearings will be announced on the AAOIFI website. To ensure maximum participation, AAOIFI will conduct the public hearings both physically and virtually and in Arabic and English languages, respectively.

The deadline for providing feedback on the exposure draft is 31 March 2023.

The exposure draft can be accessed by CLICKING HERE