The Islamic Financial Services Board and the Islamic Development Bank Group have established a Strategic Collaboration Framework to align prudential standard-setting and implementation with technical advice and development financing across member countries. The framework is intended to strengthen the institutions and regulatory architecture supporting Islamic finance. Under a multi-year work program, the organizations will provide capacity building and technical assistance to help member countries implement Islamic finance standards and frameworks. They will also expand research on emerging risks and opportunities and disseminate best practices, with a focus on financial inclusion, sustainable growth and the safety and soundness of the global Islamic financial services industry.
Islamic Financial Services Board and Islamic Development Bank Group formalize framework linking prudential standards and development finance
The Islamic Financial Services Board and the Islamic Development Bank Group have formalized a multi-year framework linking prudential standards with technical assistance and development financing. The partnership will support implementation capacity in member countries, research emerging risks and opportunities, and disseminate best practices in Islamic finance.