IFSB Issues Draft on Islamic Finance Core Principles to Guide Regulatory and Supervisory Authorities

The Islamic Financial Services Board (IFSB) has issued the Exposure Draft of Core Principles for Islamic Finance Regulation (Financial Market Infrastructures) (CPIFRFMI) for Public Consultation, according to a statement published on the 10th of September 2021. Comments from regulatory and supervisory authorities (RSAs), international organisations, institutions offering Islamic financial services (IIFS), academics and other parties are invited for a period of 45 days, from the 10th of September 2021 until the 25th of October 2021.

Why it Matters?

The CPIFRFMI intends to develop a comprehensive standard for effective regulation, supervision and oversight of Financial Market Infrastructures (FMIs) tackling the specificities of Islamic finance, while also c...