81,631 exclusive articles and counting...

AAOIFI addresses Shariah Standard 59 concerns

At the start of this 2021, the AAOIFI Shariah Standard 59 on the sale of debt took full effect in several markets including the UAE. The standard impacts both the banking and Sukuk sectors, as it concerns with rollover of debts as well as tangibility ratios of assets. The new rules are seen by some as disrupting Sukuk growth, but some also see this as the right step toward ensuring Shariah integrity of Islamic financial instruments. This is a rather tricky issue.

To help us entangle, understand and appreciate the nuances and impact of this standard to the Islamic finance markets, Omar Mustafa Ansari, the secretary general of the Accounting and Auditing Organization for Islamic Financial Institutions, better known as AAOIFI, joins Vineeta Tan in this episode.

Please login to listen or download. Thank You.

Most Listened Podcasts

Stella Cox
Managing Director of DDCAP

Rafe Haneef
CEO of CIMB Islamic

Kunrat Wirasubrata
Acting Director of IDB Group Regional Office for Southeast Asia

Omar Bassal
Head of Asset Management of MASIC

Muhammad Ashfaq
CEO of Amanah Institute of Islamic Finance and Economics

Pankaj Gupta
Founding Partner and co-CEO of Gulf Islamic Investments

Ashraf Mohamed Hashim
CEO of ISRA Consultancy

Amir Firdaus
Treasurer of Al-Rayan Bank

Safdar Alam
Founder of Siyam Capital

Nor Hanifah Binti Hashim
CEO of Franklin Templeton GSC Asset Management

Simon Chen
Vice President and Senior Analyst of Moody's Investors Service

Dr Maima Aulia Syakhroza
Lecturer in strategy of Cass Business School