IFSB lays out core principles: IFSB has published a paper setting out core principles for Islamic finance regulation. The paper outlines:
- the need for core principles, the general approach to their formulation, their scope and when they are to be implemented;
- various preconditions for the effective supervision of institutions offering Islamic finance services (IIFS) including sound and sustainable macroeconomic policies, well-developed public infrastructure and effective market discipline;
- assessment methodology for the core principles; and
- criteria for assessing compliance with the core principles among IIFS.