Shariah Standards: SBP Urges Banks to Embrace AAOIFI’s
In a noteworthy directive, the State Bank of Pakistan (SBP) has called upon banks to adopt Shariah standards and practices formulated by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). This strategic move underscores the SBP’s commitment to enhancing the Islamic banking sector’s adherence to globally recognized Shariah principles and fostering consistency in…