AAOIFI - Accounting and Auditing Organization for Islamic Financial Institutions. Structure>Board of Trustees

● AAOIFI BOARD OF TRUSTEES

The Board of Trustees shall be composed of twenty part-time members to be appointed by the General Assembly every five years and they shall continue in office until members of the succeeding Board are appointed. The members of the Board of Trustees shall be elected from among the following categories, taking into account their geographical distribution:

• Regulatory and supervisory authorities (central banks, monetary authorities, etc).
• Islamic financial institutions
• Accounting and auditing firms whose professional work relates to Islamic financial institutions.
• Shari'a Fiqh scholars
• Users of financial statements of Islamic financial institutions.

The conditions of electing these members are specified in Article 12 of AAOIFI Statute. They are that a member shall be appointed to fill a vacant office by a majority of the votes of the General Assembly, and shall belong to the same category of the member whose office has become vacant, and the term of office of a member appointed to fill a vacancy shall terminate upon the expiry of the original term of the member whose office had become vacant. The Board of Trustees meets at least once a year. With the exception of the proposals to amend the statute of AAOIFI which requires the vote of three quarters of the members of the Board of Trustees, decisions in all matters before the Board are adopted by the majority of the members voting. In case of a tie, the Chairman shall have the casting vote. The powers of the Board of Trustees include, among others, the following:

• Appointment of members of AAOIFI's Boards and termination of their membership, in accordance with the provisions of the statute
• Arrangement of sources of finance for AAOIFI and investing those resources
• Appointment of two members from amongst the members of the Board of Trustees to the Executive Committee
• Appointment of the Secretary-General

Notwithstanding the provisions of the statute concerning the Board of Trustees' powers and authorities, neither the Board of Trustees nor any of its sub-committees including the Executive Committee, has the right to interfere directly or indirectly in the work of the other Boards of AAOIFI or influence them in any manner.

NAME	POSITION	STATUS
H.E Shaikh Ebrahim Bin Khalifa Al Khalifa	Minister of Housing, Kingdom of Bahrain	Chairman
Mr. Muzafar Al Haj Muzafar	Vice President (Corporate Resources and Services) Islamic Development Bank, Saudi Arabia	Deputy Chairman
Shaikh Fahad Alabdullah Al Rajhi	General Manager, Treasury & Financial Institution Group, Al Rajhi Banking and Investment Corp., Saudi Arabia	Member
Shaikh Saleh Abdullah Kamel	Chairman and Founder, Dallah Al Baraka Holding	Member
Mr. Mohamed Sae’ed Al Sharif	Dubai Islamic Bank	Member
Mr. Mohamed Shamsul Huda	Director, Islami Bank Bangladesh Limited	Member
Mr. Maulana Ibrahim	Deputy Governor, Bank Indonesia	Member
Mr. Abdullah Celik	Head of Department, Banking and Regulation and Supervision Agency, Central Bank of Turkey	Member
Dr. Saber Mohammad Hassan	Governor, Bank of Sudan	Member
Mr. Maged Shawky	Chairman, CASE (Cairo and Alexandria Stock Exchange)	Member
Mr. Farid Mansour	Mansour & Co. PricewaterhouseCoopers, Egypt	Member
Dr. Sano Koutoub Moustapha	Director, International Islamic University Malaysia	Member
Dr. Mohamed Saeed Ramadan Al Booti	Professor, Shari’a College, University of Damascus, Syria	Member
Mr. Noor ur Rahman Abid	Managing Partner of Ernst & Young’s Assurance and Advisory Business Service (AABS) Middle East	Member
Mr. Mohamed Sulaiman Al Omar	General Manager, Kuwait Finance House	Member
Mr. Md. Azmi Abu Bakar	CEO, Takaful Malaysia	Member
Dr. Mohamed Nedal Alchaar	AAOIFI’s Secretary General	Member/ Rapparteur