The Islamic Financial Services Board (IFSB) has published its Ten-Year Framework and Strategies document. The document sets out the IFSB’s aims and objectives and these include to:
- provide a platform for national competent authorities for sharing experiences, as well as a general blueprint for considering the formulation of national plans, and eventually regional-master plans, as part of the promotion of the Islamic financial services industry (IFSI);
- identify the challenges facing the IFSI and suggest initiatives, ways and means through which the IFSI could interact with the conventional financial system, and compete with it on equal terms;
- enhance the role of the IFSI in redirecting financial resources towards real investment and the creation of employment opportunities;
- provide a platform for policy dialogue among national, regional and international financial architecture institutions and industry players; and
- help and encourage the free, fair and transparent operation of markets and the IFSI’s profitability, growth, sustainability and competitiveness, as well as its successful integration into the rapidly changing international financial systems.
View Ten-year framework and strategies, 19 May 2014