UNDP, IsDBI and AAOIFI Collaborate to Promote Islamic Finance Capacity Building Activities in Afghanistan

The United Nations Development Programme (UNDP) Istanbul International Centre for Private Sector in Development (ICPSD), the Islamic Development Bank Institute (IsDBI) and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) are deepening their partnership through the Global Islamic Finance and Impact Investing Platform (GIFIIP) to enhance capacity building in Afghanistan’s financial sector.

Established by UNDP ICPSD and IsDB in 2016, GIFIIP is a joint initiative that positions Islamic finance and impact investing as enablers of the Sustainable Development Goals (SDGs), convening public and private actors to mobilize capital and scale market-based solutions. It develops knowledge products, facilitates deal sourcing and matchmaking, and supports policy and standards to expand inclusive, sustainable finance.

This collaboration focuses on adapting international standards and supporting professional training to foster a more resilient and sustainable financial system. GIFIIP’s collaboration with AAOIFI, initiated in 2024, has already delivered impactful programs in 2024 and 2025.

More than 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), Certified Islamic Professional Accountant (CIPA), Certificate of Proficiency in Shari’ah Standards (CPSS), and Certificate of Proficiency in Financial Accounting Standards (CPFAS). These certifications are equipping Afghanistan’s financial sector with qualified professionals in Shari’ah compliance and financial reporting, ensuring alignment with global best practices.

In addition to certification programs, the partnership has delivered a series of targeted workshops and events designed to strengthen professional expertise:

Ethics for Islamic Finance Professionals (EIFP) Workshop – 23 July 2024, Kabul 

Public Hearing on the Exposure Draft of Shari’ah Governance Standard: Governance and Management of Investment Accounts – 23 July 2024, Kabul

CIPA Training/Revision Classes – 24–30 November 2024 (7 days)

CIPA Training/Revision Classes – 12–20 June 2025 (9 days)

Training/Revision Classes for CSAA, CPSS, CPFAS – 19–28 August 2025 (7 days)

These initiatives highlight the tangible results achieved through Islamic finance certification and professional development, aimed at broadening institutional capacity, strengthening cross-border financial cooperation, and creating an enabling environment for investment.

The UNDP, IsDBI, and AAOIFI collaboration underscores the transformative potential of Islamic finance in advancing sustainable development, particularly in fragile contexts such as Afghanistan. Together, these efforts are laying the groundwork for a stronger, more inclusive financial sector that supports long-term growth and resilience.

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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