Corporate Profile

International Islamic Financial Market

IIFM is the global standardization body for the Islamic Capital & Money Market segment of the IFSI. Its primary focus lies in the standardization of Islamic products, documentation and related processes.

IIFM was founded with the collective efforts of Central Bank of Bahrain, Bank Indonesia, Central Bank of Sudan, Labuan Financial Services Authority (Malaysia), Ministry of Finance (Brunei Darussalam) and Islamic Development Bank (a multilateral institution based in Saudi Arabia).  Besides the founding members, IIFM is supported by its permanent members namely State Bank of Pakistan and Dubai International Financial Centre Authority (UAE). IIFM is further supported by a number of regional and international financial institutions as well as other market participants as its members.

IIFM benefits to the Islamic Financial Services Industry:

• Addressing the standardization needs of the industry
• Providing universal platform to market participants through 'Global Working Groups' for the development of Islamic Capital and Money Market
• Shariah harmonization in documentation, products and processes
• Shariah Advisory Panel consisting of renowned scholars, hence, ensuring wider Shariah acceptance