City Bank has joined AAOIFI, the global platform of Islamic financial organisations primarily responsible for development and issuance of standards for global Islamic Industry.
Bahrain-based AAOIFI (Accounting and Auditing Organisation for Islamic Financial Institution) is recognised as the Islamic banking standard issuer globally.
Chief economist and country business manager of City Bank, Md Ashanur Rahman received the membership award and certificate from AAOIFI trustee board chairman Shaikh Ebrahim Bin Khalifa Al Khalifa at an event in Mananma, the capital of Bahrain recently.
Arup Haider, head of retail banking and Abdullah Sharif, Muraqib of City Bank were also present at the event.
As member of AAOIFI, City Bank is now offering Islamic banking solutions for its clients, taking into consideration the international standards and practices which comply with Islamic Shari’ah rules.