Biography:
Omar is working at the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) – a global Islamic finance standard setter, as its Secretary General. Previously he was Partner – Assurance & Head of Islamic Finance (Pakistan & Afghanistan) at Ernst & Young Ford Rhodes Sidat Hyder - A member firm of Ernst & Young. He is a Fellow member of the Institute of Chartered Accountants of Pakistan (ICAP).
At AAOIFI, he is responsible primarily for leading the process of development of accounting, auditing, governance and ethics standards for the global Islamic finance industry, besides managing the overall affairs of the institution as the organization’s head.
Omar’s key areas of expertise include assurance and advisory services to Islamic financial institutions, including Islamic accounting advisory, audits, Shari’ah Audits, corporate finance advisory, structuring of Shari’ah compliant transactions, accountancy and financial reporting, Islamic finance training, financial modelling, risk management & development and review of manuals and systems.
His published books include:
- Managing Finances - A Shariah Compliant Way;
- Islamic Microfinance Bank: Working Model (in Urdu);
- IFRS and Shari'ah based reporting: a conceptual study;
- Textbook on Islamic finance and capital markets (for the Institute of Capital Markets, SECP – Pakistan);
- AAOIFI’s *** program study texts (in the capacity of chief editor and reviewer) comprising 4 volumes on (i) Accounting and Financial Reporting; (ii) Shari'ah Standards and Shari'ah Governance; (iii) Audit, Assurance and Ethics; and (iv) Business and regulatory environment.
Omar is a member (ex-chairman) of ICAP's committee responsible for the development of Islamic financial accounting standards for Pakistan and also a member of the Insurance Committee leading the accounting regulations development for Takaful. He was a member of Securities & Exchange Commission of Pakistan (SECP) Shari’ah Board and part of the committee for revision of Takaful Rules, besides being part of several committees and task forces of the State Bank of Pakistan. He was also an advisor to Saudi Organization for Certified Public Accountants (SOCPA) on Shari’ah issues concerning IFRS adoption.
He has contributed several articles in various newspapers and journals, and papers in conferences and is also a regular trainer and speaker on various forums on topics related to Islamic finance including forums like the State Bank of Pakistan, universities and professional bodies.