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Publication On Shariah Requirements Related To Financial Safety Nets Launched In Abu Dhabi |
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A printed copy of the joint publication titled "Financial Safety Nets: Striking a Balance Between Shariah Requirements and the Soundness of the Islamic Financial System" was launched at the IFSB Summit 2017 on 23rd October 2017 in Abu Dhabi. A joint partnership between the Islamic Financial Services Board (IFSB) and International Shariah Research Academy for Islamic Finance (ISRA), the book discusses two pertinent issues related to financial safety nets, i.e. i) Shariah-compliant lender-of-last resort facilities and ii) Shariah-compliant structures for a deposit insurance scheme. It concludes with a summary of the discussions and recommendations and future directions for moving forward. The publication of this book is timely in view of the rapid growth of the Islamic finance industry, and the corresponding need to provide the Shar?‘ah and related basis to facilitate policy making in this area. IFSB hopes that this publication, which encapsulates the combined knowledge of the distinguished scholars, industry practitioners and academics, will be a useful resource for better understanding of the Shar?‘ah issues related to safety nets and a valuable reference for jurisdictions and organisations that aim to better understand and develop these important facilities in order to strengthen their respective financial frameworks. This publication is a compilation of the papers presented by distinguished Shariah scholars during the joint IFSB-ISRA Roundtable on "Financial Safety Nets: Striking a Balance between Shariah Requirements and the Soundness of the Islamic Financial System", which was held in Kuala Lumpur on 5th November 2015. |
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