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Establishment

 

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IFSB programmes to facilitate the development of the Islamic financial services industry     
About IFSB > Establishment > Objectives

Objectives

The objectives of the IFSB are:

  1. To promote the development of a prudent and transparent Islamic financial services industry through introducing new, or adapting existing, international standards consistent with Sharî'ah principles, and recommending these for adoption

  2. To provide guidance on the effective supervision and regulation of institutions offering Islamic financial products and to develop for the Islamic financial services industry the criteria for identifying, measuring, managing and disclosing risks, taking into account international standards for valuation, income and expense calculation, and disclosure.

  3. To liaise and cooperate with relevant organisations currently setting standards for the stability and the soundness of the international monetary and financial systems and those of the member countries.

  4. To enhance and coordinate initiatives to develop instruments and procedures for efficient operations and risk management.

  5. To encourage cooperation amongst member countries in developing the Islamic financial services industry.

  6. To facilitate training and personnel development in skills in areas relevant to the effective regulation of the Islamic financial services industry and related markets.

  7. To undertake research into, and publish studies and surveys on, the Islamic financial services industry.

  8. To establish a database of Islamic banks, financial institutions and industry experts.

  9. Any other objectives which the General Assembly of the IFSB may agree from time to time.

Article 4 - IFSB Articles of Agreement


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