In a fast-changing environment defined by increased challenges and developments with significant implications on the financial system, it is crucial to preserve the philosophy of Islamic finance based on ethical principles and the support of the real economy while ensuring higher social welfare.

Regulatory and supervisory authorities, standard-setting bodies, and international organisations issue new regulations, guidance, and standards to equip the financial sector with the necessary practices to ensure its resilience against rising challenges, affecting both Islamic and conventional financial institutions. CIBAFI is keen to voice the concerns of the Islamic Financial Services Industry on new developments through constructive and proactive dialogues that highlight the industry’s challenges and the different implications of changing regulatory requirements on Islamic financial institution’s business operations.