Standards Development > Preparation of Standards
Preparation of Standards
“To promote the development of a prudent and transparent Islamic financial services industry through introducing new, or adapting existing, international standards consistent with Sharīʻah principles, and recommend these for adoption.”
Article 4 (a) - IFSB Article of Agreement on the Objectives of the IFSB
The formulation of the IFSB standards and guidelines adhere to a rigorous due process as identified in the Guidelines and Procedures for the Preparation of Standards and Guidance/Technical Notes. The due processes are in put in place to ensure that these documents are of high quality, understandable and implementable international standards or guidelines. The processes allow for thorough consultation with a broad group of IFSB stakeholders and are recognised as having given all important stakeholders of the Islamic financial services industry adequate time and access to peruse, review and provide comments during the preparation of the standard or guidelines.
IFSB Guidelines and Procedures for the Preparation of Standards and Guidance/Technical Notes
The Key Milestones in the Formulation of the IFSB Standards and Guidelines
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