The Central Bank of the UAE (CBUAE) hosted a series of meetings and discussions with attendance from key Islamic finance infrastructure organizations including the Islamic Financial Services Board (IFSB), the General Council for Islamic Banks and Financial Institutions (CIBAFI), and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), and with its conclusion November 29, 2023 saw the launch of the Roadmap for Islamic Sustainable Finance. The roadmap outlines comprehensive steps to advance sustainability in Islamic finance, including prudential standards, disclosure guidelines, market development initiatives, and capacity-building programs, and sets targeted timeline for the initiatives to be implemented.
The announcement of the roadmap follows the Islamic finance related events, hosted by the CBUAE and organized in collaboration with the Islamic finance infrastructure organizations. As part of these events, the IFSB organised a global forum on sustainability–related risks and opportunities, whereas the CIBAFI event focused on empowering sustainable practices and climate action in Islamic finance. The AAOIFI event covered the integration of Maqasid Al Shariah and sustainable development goals into the decision-making process. https://tinyurl.com/y7my96hk
Source: IBP