Strengthening Afghanistan's Financial Sector through Islamic Finance Certification

Strategic Insights -

The United Nations Development Programme (UNDP) Istanbul International Centre for Private Sector in Development (ICPSD) and the Islamic Development Bank Institute (IsDBI) are deepening their partnership through the Global Islamic Finance and Impact Investing Platform (GIFIIP) to enhance capacity building in Afghanistan's financial sector. Established in 2016, GIFIIP convenes public and private actors to mobilize capital and scale market-based solutions, positioning Islamic finance and impact investing as enablers of the Sustainable Development Goals (SDGs). The collaboration with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) has already delivered impactful programs, including certifications and targeted workshops, designed to strengthen professional expertise in Shari'ah compliance and financial reporting.

Key Takeaways:

  • Over 120 participants, including representatives from the Central Bank of Afghanistan (Da Afghanistan Bank), banks, and microfinance institutions, have enrolled in AAOIFI's flagship certification programs, such as the Certified Shari'ah Advisor & Auditor (CSAA) and Certified Islamic Professional Accountant (CIPA).
  • These certifications are equipping Afghanistan's financial sector with qualified professionals in Shari'ah compliance and financial reporting, ensuring alignment with global best practices.
  • The partnership has delivered a series of targeted workshops and events, including the Ethics for Islamic Finance Professionals (EIFP) Workshop and the Public Hearing on the Exposure Draft of Shari'ah Governance Standard.
  • The initiatives highlight the tangible results achieved through Islamic finance certification and professional development, aimed at broadening institutional capacity and creating an enabling environment for investment.
  • The collaboration underscores the transformative potential of Islamic finance in advancing sustainable development, particularly in fragile contexts such as Afghanistan.

Statistics:

  • 120 participants have enrolled in AAOIFI's flagship certification programs.
  • 23 July 2024: EIFP Workshop and Public Hearing on Shari'ah Governance Standard took place in Kabul.
  • 24--30 November 2024 (7 days): CIPA Training/Revision Classes were held.
  • 12--20 June 2025 (9 days): CIPA Training/Revision Classes were held.
  • 19--28 August 2025 (7 days): Training/Revision Classes for CSAA, CPSS, CPFAS were held.

Sources:

  • The United Nations Development Programme (UNDP)
  • The Islamic Development Bank Institute (IsDBI)
  • The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)
  • The Islamic Development Bank Institute (IsDBI) Institute leads initiatives to enable Islamic finance ecosystems.