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IFSB and AAOIFI Conclude the Joint Work on Sharīʻah Governance and Agree on the Way Forward

Date posted: 9 November 2023

9 November 2023, Kuala Lumpur, Malaysia – The work of the IFSB-AAOIFI joint working group on Sharīʻah governance has now been concluded. Accordingly, based on extensive feedback received from stakeholders and considering the mandates of each organisation, IFSB and AAOIFI have agreed on the way forward, to separately review and where necessary, issue relevant guidance on Sharīʻah governance within their respective areas of focus.

IFSB and AAOIFI extend profound appreciation for the work undertaken by the joint working group and the joint Sharīʻah committee as well as the feedback provided by a wide range of stakeholders.

The two standard-setting organisations will continue to collaborate and cooperate in areas of mutual interest

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