ANN ARBOR, MI -- (Marketwire) -- 11/12/08 -- University Bank (NASDAQ: UNIB) todayannounced that its 80% owned subsidiary, University Islamic Financial, hasjoined AAOIFI, the global Islamic Finance accounting standards settingorganization, as a full member. AAOIFI is responsible for developingaccounting, auditing, ethics, governance, and Shari'a standards for theinternational Islamic banking and finance industry. AAOIFI is supported byover 160 institutional members from around 40 countries. It has itscorporate office in Kingdom of Bahrain. More information about AAOIFI andits programs and standards is available at http://www.aaoifi.com/.
