Bahrain-Based AAOIFI Says It May Issue 35 Shariah Rules in 2012
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The Accounting & Auditing Organization for Islamic Financial Institutions, known as AAOIFI, said it may issue 35 Shariah standards for Islamic institutions in 2012.
The Bahrain-based organization “conducted in-depth research for Shariah and auditing standards and guidelines, which are expected to be finalized next year,” according to an e-mailed statement citing its secretary general, Mohammed Nedal Alchaar.