City Bank has joined the global platform of Islamic financial organizations – AAOIFI, the primary responsibility for the development and issuance of standards for the global Islamic Industry. Bahrain-based AAOIFI or Accounting and Auditing Organization for Islamic Financial Institution is recognized as an Islamic banking standard issuer globally.
Chief Economist and Country Business Manager (CE &CBM) of City Bank, Mr. Md. Ashanur Rahman received the membership award and certificate from AAOIFI Trustee Board Chairman Shaikh Ebrahim Bin Khalifa Al Khalifa at an event in the capital city Manama recently. Mr. Arup Haider, Head of Retail Banking and Mr. Abdullah Sharif, Muraqib of City Bank were also present in the ceremony.
Became a member of AAOIFI, City Bank is now moving ahead of offering Islami banking solutions for its clients taking into consideration the international standards and practices which comply with Islamic Shari’ah rules.