KNKS signed an MoU with AAOIFI

It is the time for Indonesia to play bigger roles in the international arena of Islamic financial industry.


On 14th November 2019, Indonesian National Committee of Islamic Finance (KNKS) signed a historical Memorendum of Understanding with Bahrain based Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) in Jakarta, Indonesia.

The MoU Signing Ceremony was held during the 6th Indonesian Sharia Economic Festival (ISEF), the world's biggest Islamic Economic Platform. During the ceremony, KNKS was represented by its Executive Director, Ventje Rahardjo and other Directors. Meanwhile, the AAOIFI was represented by its Secretary General, Omar Mustafa Ansari. 

Dr. Sutan Emir Hidayat, Director of Education and Research at KNKS, who initiated the MoU, said that the MoU is served as an umbrella of future collaboration with the standard setter. The areas of possible cooperation are wide which include more participation of Indonesian representatives in the AAOIFI's boards and committees, holding joint events, data exchange and others. It is the time for Indonesia to play bigger roles in the international arena of Islamic financial industry.

Omar Ansari said that the standard setter hopes the MoU will open ways for the AAOIFI to get more inputs from Indonesian Islamic Financial stakeholders to enhance its Accounting, Auditing, Governance, and Shariah standards as well as its code of ethics. He hopes more roles played by Indonesian representatives will enrich those standards and enhance their adoption.

© Press Release 2019

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