20 Feb, 2023
The Islamic Development Bank Institute (IsDBI) and the Saudi Central Bank have jointly organized a 3-day training workshop on “AAOIFI Financial Accounting Standards”.
Held from 7-9 February 2023, the Saudi Central Bank hosted the program within the framework of the IsDB Islamic Finance Grant Program and addressed any project or activity to develop Islamic financial services industry areas in IsDB Member Countries.
The training was delivered by AAOIFI’s professional trainers who are also members of the AAOIFI Accounting Board, as per the Training Services Agreement signed between IsDB and AAOIFI.
The workshop’s goal was to provide an impactful and high-quality capacity-building program for professionals of the Saudi Central Bank working in financial and accounting transactions to have a profound understanding of knowledge and skills of financial accounting standards as formulated and developed by AAOIFI.
Thirty participants attended the program delivered in nine training sessions. The workshop covered various subjects of financial accounting standards with plenty of business cases.
Some of the key subjects of the workshop were to sensitize the participants on the need and relevance of standardization of the best practices in Islamic finance, and key requirements of AAOIFI financial accounting standards, especially in the backdrop of the Shari’ah governance framework issued by Saudi Central Bank.
