The Diploma in Islamic Accounting and Compliance (DIAC)

January 21, 2009

faa030000399Association of International Accountants (AIA) uk jiontly with BIBF has introduced Diploma In Islamic Accounting And Compliance (DIAC) to cater the islamic finance market.There is an increasing demand for accountancy professionals who demonstrate a thorough understanding of Islamic Accounting and Governance Reporting requirements as set by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), while preserving compliance with International Financial Reporting Standards (IFRS). To access global markets and maintain the process of Islamic transactions, Islamic Finance professionals need to be familiar with both sets of standards as they apply to Islamic Financial Institutions. The Diploma in Islamic Accounting and Compliance (DIAC) has been designed to address this demand.

The Diploma in Islamic Accounting and Compliance (DIAC) is a professional certification jointly developed and certified by the Bahrain Institute of Banking and Finance (BIBF) and the Association of International Accountants (AIA).AIA, a premier international professional accountancy body, is responsible for setting the syllabi for the course, preparing the independently developed exam papers and appointing leading professional examiners.

The BIBF, as the premier institute for financial education and training in the Gulf, is responsible for compiling the course structure and providing its highly reputed teaching and support services. The DIAC programme seeks to develop the next generation of accounting professionals and leaders in Islamic Finance. It is specifically designed to cater to the needs of global professionals who require a qualification that enhances and certifies their knowledge and practical understanding of the multi-jurisdictional accounting systems that Islamic banks are exposed to.