Professional Fellowship Programs Agreement with AAOIFI
The General Director of the Institute of Banking and Financial Training and Studies (IBFTS) signed an agreement for Professional Fellowship Programs with the Executive Director of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Kingdom of Bahrain. The agreement was signed on the sidelines of AAOIFI’s Annual Conference, held in Manama, Bahrain, in cooperation with the Islamic Development Bank, during the period 3–4 November.
Under the terms of the agreement, IBFTS will act as AAOIFI’s representative in registering trainees for AAOIFI’s professional fellowship programs, which culminate in internationally accredited certifications.
The key certifications covered by the agreement include:
Certified Islamic Professional Accountant (CIPA)
Certified Shariah Expert (CSE)
Certified Shariah Auditor (CSA)
Certificate of Proficiency in Financial Accounting Standards (CPFAS)
Certificate of Proficiency in Shariah Standards (CPSS)
These programs will be included into the Institute’s 2025 training plan and will be available to all employees working in the banking and financial sector in Libya. Registration will be conducted through the IBFTS electronic platform (MASAR).
It is worth noting that the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is one of the leading international non-profit organizations supporting Islamic financial institutions. Established in 1991 and headquartered in the Kingdom of Bahrain, AAOIFI has made significant professional contributions, most notably the issuance of more than 100 standards in the fields of accounting, auditing, ethics, governance, and Shariah. These standards have been adopted by central banks and financial regulatory authorities in numerous countries worldwide.