Program details

Mastering Aaoifi Shariah Standards: Gap Analysis And Effective Implementation

No overview available.

This course helps participants to:
Review selected AAOIFI Shariah Standards to understand their structure, scope, and key requirements
Map AAOIFI Shariah Standards to existing products, policies, procedures, and documentation
Understand the SBP adoption and implementation procedure for AAOIFI Shariah Standards
Conduct gap analysis and identify practical steps for effective implementation
Design a robust Shariah-compliant policy, procedures, and documentation framework, including governance, oversight, and operational controls

Module 1: Role of AAOIFI & Its Objectives
Overview of AAOIFI and its role in Islamic finance.
Purpose and objectives of AAOIFI standards.
Categories of standards: Shariah, Accounting, Auditing, Governance, and Ethics
Importance of AAOIFI standards for Shariah compliance and standardization in Islamic banking and finance
Module 2: Adoption Procedure of AAOIFI Shariah Standards by SBP & SECP
AAOIFI adoption procedure by SBP and SECP
Overview of the Compendium issued by SBP for adoption of AAOIFI Shariah Standards
Timelines, applicability, and phased implementation approach
Module 3: Review of Selected AAOIFI Shariah Standards
Review of selected standards, including:
Murabaha
Conversion of Conventional Banks into Islamic Banks
Default in Payment by a Debtor reviews
Module 4: Mapping of AAOIFI Shariah Standards to Products, Policies, Procedures, Documentation & Systems
Mapping of AAOIFI requirements with Islamic banking products and structures
Product-wise mapping of AAOIFI Shariah Standards in policies, procedures, documentation, and systems
Gap analysis and steps for practical implementation
Roles of product, business, IT, legal, regulatory compliance, audit, and Shariah compliance teams

Interactive Learning | Practical Exercises | Case Studies | Group Discussions | Real-World Scenarios
A practical and interactive learning approach combining trainer-led sessions, real-world case studies, group discussions & practical exercises