About Islamic Finance Advisory Board

Islamic Finance Advisory Board is a self-regulatory, non-for-profit body engaged in the promotion of Islamic Finance in Canada.

Shariah compliance is an indispensable part of any product or service related to Islamic finance, whether it is banking, investment or insurance. For an Islamic finance product to be credible, it requires Shariah compliance. For Islamic finance to be credible, standardization of Shariah compliance is a necessity. Islamic Finance Advisory Board aims to spearhead the process of such standardization in the Canadian Islamic finance industry.

The Board comprises of Shariah scholars and Canadian Islamic finance professionals and was formed to facilitate the development of innovative Shariah-compliant financial products in the context of the Canadian marketplace. The Board performs three basic functions.

1. Advisory and consultancy services
2. Education and awareness, and
3. Mediation and arbitration

The Board fulfills the growing need of having an authoritative body overseeing this rapidly expanding industry to ensure consistency, transparency, and to act as a safeguard for consumers wishing to undertake shariah complaint transactions.

Our Mission:

We provide professional and authoritative Shariah-compliant advisory, education, research and mediation solutions for all stakeholders involved in the financial services industry in Canada.

Our Vision:

Islamic Finance Advisory Board will provide authoritative Shariah-compliant services to bring credibility and standardization to the Islamic finance industry.