The Governance and Ethics Board (AGEB) of the Accounting and Auditing Organization for Islamic Financial Institutions held its 44th meeting on 5 February 2026 via video conference, during which it reviewed the 2025 performance report and approved the AGEB work plan for 2026.
During the meeting, the Board discussed AGEB’s 2025 performance report, which provided a comprehensive overview of the Board’s activities throughout the year. The discussion highlighted key achievements, progress on ongoing projects, and various engagement initiatives. The Board also reviewed the overall standard-setting outputs for the year, including the approval of preliminary studies, the issuance of exposure drafts, and the publication of final standards. Members acknowledged the progress achieved and reaffirmed their commitment to continuing efforts to develop globally relevant governance and ethics standards that serve the best interests of the Islamic finance industry.
With regard to 2026, the Board discussed and approved the priority standards to be developed during the year, along with the schedule of its meetings. The approved priorities include Governance Standards (GSs) on “Principles of Assessment of Necessity for Obtaining Conventional Reinsurance by Takaful Institutions,” “Conversion of Conventional Institutions to Islamic Financial Institutions,” “Determination of Surplus, Deficit, Qard and Their Management,” and “Digital Banking.”
This planning exercise reflects the Board’s commitment to aligning its work program with the evolving needs of the Islamic finance industry. It supports the timely issuance of relevant standards and ensures that AAOIFI’s strategic objectives are effectively translated into clear and actionable priorities for the year ahead.