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Tag Archives: IFD

SECP notifies Shariah Standards No 17, 18 and 23 of AAOIFI

ISLAMABAD, November 29: The SECP has notified for public consultation three Shariah Standards of Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI); Shariah Standard No 17 - Investment Sukuk, Shariah Standard No 18- Possession (Qabd) and Shariah Standard No 23 - Agency and the Act of an un-commissioned agent (Fodooli) The SECP has been playing an active role in the Islamization of the economy. The SECP has endeavored to replicate the best international practices in the Islamic financial services. In order to ensure harmonization and standardization in the business practices of Islamic financial institutions, the SECP has been gradually adopting Accounting and Shariah Standards issued by Accounting and Auditi...

November 29, 2017 at 4:15 pm | News Desk