Varied adoption of AAOIFI Standard 62 could spur market fragmentation
Disparate adoption of the AAOIFI’s (Accounting and Auditing Organization for Islamic Financial Institutions) Shariah standard no. 62 could crank up market fragmentation.
The adoption and implementation of the standard, if varied by jurisdiction or entity, could increase market fragmentation, Fitch Ratings has said.
The impact will hinge on the finalised standard, which jurisdictions and entities adopt it, and how it is reflected in sukuk documentation, it adds.
Continue reading
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Joined by 12,000+ Islamic economy professionals
Create a free account
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
