A large majority of developing nations quietly shifted to more market-oriented economies. But even earlier in the postwar decades, distortions induced by regulation were viewed as more and more disturbing in the developed world. Starting in the 1970s, American Presidents, supported by bipartisan majorities in the Congress, deregulated large segments of America's transportation, communications, energy, and financial services industries.
Considering the constant changing dynamics in financial sphere, AAOIFI also reviews and updates its standards to keep them relevant. AAOIFI’s enhanced coordination with relevant stakeholders and increased collaborative efforts help Islamic financial services industry to grow on sound footings.   The AAOIFI role in capacity building through offering Shariah based certifications in the area of Auditing, Accounting and advisory services is laudable.