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AAOIFI grants compatibility of compliance certificate to iMAL Islamic financial software of Path Solutions

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) carried out a rigorous process of testing the compliance of iMAL Islamic financial software and issued a certificate to confirm its compliance with AAOIFI’s Shari’ah and Financial Accounting standards.Mr. Omar Mustafa Ansari, Secretary General, AAOIFI, commented on the occasion, ‘AAOIFI, by virtue of its mission and role in the preparation of Shari’ah and financial accounting standards for the global Islamic finance industry, fully welcomes and appreciates the initiative undertaken by Path Solutions to submit its iMAL Islamic financial software for compliance testing with AAOIFI standards. This certification will boost regulator, investor, and public confidence in the operations and product set of any financial institution seeking Shari’ah compliance upon deployment of the software.

Continue Reading : https://www.bobsguide.com/guide/news/2020/Jan/9/aaoifi-grants-compatibility-of-compliance-certificate-to-imal-islamic-financial-software-of-path-solutions/