The National Bank of the Kyrgyz Republic and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), with the support of the Islamic Development Bank, are jointly conducting AAOIFI CIPA training program from 17-27 April 2019 in the following areas: AAOIFI Shariah Standards and Financial Accounting and Reporting (FAR).  

The AAOIFI Shariah Standards program covers the Shariah Fundamentals of Islamic Finance, Trade-based Contracts (Murabaha, Salam, etc.), Equity-based Contracts (Musharaka, Mudaraba), Ijarah contract, Investment Sukuk, Takaful and other services of Islamic bank. Accounting concepts, recognition and classification of Islamic contracts, key differences between AAOIFI and IFRS and other themes will be considered during the AAOIFI Financial Accounting and Reporting module. 

The AAOIFI CIPA training program includes the participation of the representatives of the National bank, financial and credit organizations and Islamic University of Kyrgyzstan.  

For reference:  

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is a body that prepares accounting, auditing, governance, ethics and Sharia standards for Islamic financial institutions. 

CIPA stands for Certified Islamic Professional Accountant and it is one of the two flagship qualifications which is offered by the AAOIFI.