Kuala Lumpur, MALAYSIA – 21 July 2026 – The Islamic Financial Services Board (IFSB) today published an Exposure Draft (ED-33) on the Revised Guiding Principles on Governance of Islamic Collective Investment Schemes for public consultation.
The Exposure Draft revises the existing IFSB standard, IFSB-6: Guiding Principles on Governance of Islamic Collective Investment Schemes, by expanding its scope to strengthen the governance and oversight of Islamic collective investment schemes (ICIS).
The revised standard broadens the existing framework to address additional areas, including risk management, liquidity management, valuation, outsourcing, Islamic windows and technology governance, while further strengthening governance expectations for board and senior management oversight, investment eligibility (screening) methodologies and Sharīʻah governance.
It complements existing international standards for collective investment schemes by addressing issues specific to ICIS that require additional regulatory and supervisory guidance.
Feedback on the Exposure Draft is invited by 4 September 2026, 18:00 (UTC+8). Responses to all consultation questions are not required, and stakeholders may comment only on those questions relevant to them or provide general comments on any aspect of the Exposure Draft. After this deadline, the consultation will close and it will no longer be possible to submit comments.
A public hearing webinar will be held on 18 August 2026, 16:00–17:00 (UTC+8) to present the Exposure Draft and receive any questions from stakeholders as they prepare to provide their consultation feedback. Click here for details and registration.
How to provide feedback:
The consultation is now open. Please submit your comments by email to [email protected] by 4 September 2026, 18:00 (UTC+8).
The Exposure Draft and consultation questions are available for download from the IFSB website at https://www.ifsb.org/consultation/.
