7/26/2019 Islamic Financial Services Board (IFSB) Definition _ Investopedia

1/2

3/25/2016 Isl am ic Fi nanci al Ser vi ces Boar d ( IFSB) D efi ni ti on | Investopedi a

http://www.investopedia.com/terms/i/ifsb.asp 1/2

DEFINITION of 'Islamic Financial Services Board - IFSB'EFINITION of Islamic Financial Services Board - IFSB

An international organization that issues guiding principles and standards within the banking,n international organization that issues guiding principles and standards within the banking

insurance and capital market sectors in order to promote stability in the Islamic financialnsurance and capital market sectors in order to promote stability in the Islamic financial

services industry.ervices industry.

The ISFB consists of:he ISFB consists of:

The general assembly, which includes all members of the ISFBhe general assembly which includes all members of the ISFB

The council, which acts as the policy making body of the IFSB and includes the seniorhe council which acts as the policy making body of the IFSB and includes the senior

executive of each full member of the organizationxecutive of each full member of the organization

The technical committee, which advises the council on issues and consists of up to 15he technical committee which advises the council on issues and consists of up to 15

persons appointed by the councilersons appointed by the council

The working group, which drafts standards and guidelines and reports to the technicalhe working group which drafts standards and guidelines and reports to the technical

committeeommittee

The secretariat, which acts as the permanent administrative body and is headed by ahe secretariat which acts as the permanent administrative body and is headed by a

secretary-general appointed by the councilecretary-general appointed by the council

Next Upext Up

MURABAHAURABAHA SUKUKUKUK ISLAMIC BANKINGSLAMIC BANKING RIBAIBA

BREAKING DOWN 'Islamic Financial Services Board - IFSB'REAKING DOWN Islamic Financial Services Board - IFSB

Based in Kuala Lumpur, Malaysia, the IFSB began operations in early 2003. The IFSB issuesased in Kuala Lumpur Malaysia the IFSB began operations in early 2003. The IFSB issuesstandards and principles in the areas of capital adequacy, corporate governance, risktandards and principles in the areas of capital adequacy corporate governance risk

management and transparency, among others.anagement and transparency among others.

The goal of the IFSB is to promote the awareness of issues that could have an impact on thehe goal of the IFSB is to promote the awareness of issues that could have an impact on the

Islamic financial services industry. It issues Sharia-compliant standards, holds conferencesslamic financial services industry. It issues Sharia-compliant standards holds conferences

and seminars, and provides guidance and supervision, among other initiatives.nd seminars and provides guidance and supervision among other initiatives.

Islamic Financial Services Board - IFSBslamic Financial Services Board IFSB SHAREH R

Topics

Reference

Simulator

Newsletters

http://www.investopedia.com/http://www.investopedia.com/http://www.investopedia.com/accounts/signupnewsletter/?subid=header&source=headerhttp://www.investopedia.com/simulator/http://www.investopedia.com/dictionary/http://www.investopedia.com/topics/http://www.investopedia.com/http://www.investopedia.com/terms/m/murabaha.asphttps://twitter.com/intent/tweet?text=&url=http%3A%2F%2Fwww.investopedia.com%2Fterms%2Fi%2Fifsb.asp%3Futm_source%3Dtwitter%26utm_medium%3Dsocial%26utm_campaign%3Dshareurlbuttonshttps://www.facebook.com/dialog/share?app_id=371867692868423&display=popup&href=http%3A%2F%2Fwww.investopedia.com%2Fterms%2Fi%2Fifsb.asp%3Futm_source%3Dfacebook%26utm_medium%3Dsocial%26utm_campaign%3Dshareurlbuttons&redirect_uri=http%3A%2F%2Fwww.investopedia.com%2Fmisc%2Fcallback%2Ffacebook%2Fhttp://www.investopedia.com/terms/r/riba.asphttp://www.investopedia.com/terms/i/islamicbanking.asphttp://www.investopedia.com/terms/s/sukuk.asphttp://www.investopedia.com/terms/m/murabaha.asp

7/26/2019 Islamic Financial Services Board (IFSB) Definition _ Investopedia

2/2

3/25/2016 Isl am ic Fi nanci al Ser vi ces Boar d ( IFSB) D efi ni ti on | Investopedi a

http://www.investopedia.com/terms/i/ifsb.asp 2/2