Islamic Financial Services Board

The Islamic Financial Services Board (IFSB) is an international standard-setting body that issues global prudential standards and guiding principles for the Islamic financial services industry, which includes banking, capital markets, and insurance sectors. Officially inaugurated on November 3, 2002, and based in Kuala Lumpur, Malaysia, the IFSB's mission is to promote the stability and resilience of the Islamic financial system. It works closely with regulatory and supervisory authorities worldwide to ensure sound supervision and regulation for institutions offering Islamic financial products, and to harmonise industry practices at an international level.