IFSB Roundtable on Exposure Draft: IFSB–AAOIFI Revised Sharīʻah Governance Framework for IIFS

The Roundtable is organised by the IFSB to discuss the Exposure Draft (ED) of the IFSB–AAOIFI Revised Sharīʻah Governance Framework for Institutions Offering Islamic Financial Services (ED RSGF), in line with the IFSB due process for the development of Standards and Guidance/Technical Notes. The aim of EDRSGF is to provide a revised set of guiding principles and rules on the key components of a sound and effective Shari`ah governance framework for IIFS. The ED RSGF applies to IIFS (including Islamic windows) in the Islamic banking, takāful (Islamic insurance) and Islamic capital market sectors. RSAs may choose to apply the standard to other IIFS in their jurisdictions. The Standard adopts a principle-plus-rule approach that provides a comprehensive set of Sharīʻah governance practices for implementing each principle. The Roundtable aims to invite selected experts, regulators and Islamic scholars to discuss the significant issues of the Guiding Principles for Sharīʻah Governance Framework of the ED RSGF with a view to soliciting constructive and practical feedback on its contents, particularly focusing on issues that require closer deliberation by key stakeholders.