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Islamic Financial Services Board
Abbreviation
IFSB
Formation
November 3, 2002; 21 years ago (2002-11-03) in Malaysia.
Type
Independent international not-for-profit organization
Purpose
Sets standards for regulatory and supervisory agencies of the Islamic financial services industry
Headquarters
Kuala Lumpur, Malaysia
Location
Level 5, Sasana Kijang, Bank Negara Malaysia 2, Jalan Dato' Onn, Kuala Lumpur, 50480[1]
Region served
Worldwide
Membership
180
Official language
English, Arabic
Secretary-General
Dr. Bello Lawal Danbatta
Main organ
General Assembly
Staff
11-50[2]
Website
www.ifsb.org
The Islamic Financial Services Board (IFSB) is an international standard-setting body of regulatory and supervisory agencies that promotes the soundness and stability of the Islamic financial services industry, covering banking, capital market and insurance.[3] In advancing this mission, the IFSB promotes 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 recommend them for adoption.[4][5][6]
The IFSB was originally established to serve banking sector regulators and central banks. However, in 2004–2005, the IFSB mandate was extended to include supervisors and regulators of insurance and securities markets.
^"Company Overview of Islamic Financial Services Board". Bloomberg. Retrieved 3 August 2017.
^"Islamic Financial Services Board Islamic Financial Services Board". Linked In. Retrieved 3 August 2017.
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