CBUAE and IFSB Emphasise Islamic Financial Industry’s Critical Role in Global Economic Recovery

The Central Bank of the United Arab Emirates (CBUAE) and the Islamic Financial Services Board (IFSB) have emphasised the Islamic financial industry's critical role in global economic recovery and the need to build a system that is prudent, resilient, sustainable and transparent.

Why it Matters?

Owing to its pure principles and ethical investment aspects that adhere to global investors' environmental, social and corporate governance (ESG) goals, the regulators called for an inclusive approach, stressing the potentially significant role of Shariah-compliant financial solutions beyond the Islamic world.

Details

These comments were made at the 39th meeting of the IFSB Council hosted by the CBUAE in Abu Dhabi, United Arab...