IFSB (Islamic Financial Services Board)

The Islamic Financial Services Board (IFSB) is an international organization that sets guidelines and standards for the Islamic finance industry. Established in 2002, it aims to promote stability and soundness in Islamic financial institutions, which operate according to Islamic law (Sharia). The IFSB provides regulatory frameworks and best practice recommendations to help ensure that these institutions function effectively and ethically, while also fostering cooperation among regulators and industry players globally. Essentially, the IFSB plays a crucial role in ensuring that Islamic finance is both robust and compliant with its principles.