By the grace and blessings of Allah the Almighty, the IIFM esteemed Shari'ah Board officially met on Thursday, 14 May 2026, and approved the Standardized Syndicated Ijarah Financing Agreements, comprising of 9 documents. This milestone, following the previous approval of the Standardized Syndicated Murabahah Financing Agreements, comprising of 3 documents on 23 April 2026, completes the framework to institutionalize global Islamic syndicated financing.
Dr. Ahmed Rufai, Acting CEO of IIFM, stated: "This landmark standardization introduces unprecedented legal certainty, cuts transactional costs, and drastically accelerates execution timelines for large-scale cross-border syndication transactions. By establishing universally accepted benchmarks, these foundational pillars eliminate market fragmentation, enhance transparency, and empower Islamic financial institutions globally to seamlessly participate in complex multi-party operations and sovereign liquidity management”.