Promoting Islamic Finance in North America
The Board is a non-profit, self-regulatory, voluntary body engaged in the promotion of Islamic Finance in North America.
A voluntary body formed to support Sharia-compliant financial products
We were formed in 2008 to help develop Sharia-compliant financial products in Canada. One of our major functions is to bring a measure of standardization to the Sharia-compliant financial industry.
To date, we are the only institution in the country to provide this one-of-a-kind service.
Non-Profit
Engaged in the promotion of Islamic Finance in North America.
Self-Regulatory
A voluntary body supporting standards and industry guidance.
Voluntary Body
Built around collaboration, service, and shared responsibility.
Formed in 2008
Created to help develop Sharia-compliant financial products in Canada.
Standardization
Bringing a measure of standardization to the Sharia-compliant financial industry.
One of a Kind
The only institution in the country to provide this unique service.
The Board Functions at Three Levels
Advisory and Consultancy
We act as an advisory body to assist institutions, organizations and governmental agencies on matters relating to Islamic finance.
Education and Awareness
We provide a better understanding of Islamic finance through seminars, publications and outreach programs.
Mediation and Arbitration
We offer dispute resolution services in accordance with Islamic principles through mediation and arbitration.
Standardization, consistency, transparency, and consumer safeguard
Standardization
Bringing a measure of standardization to the Sharia-compliant financial industry.
Consistency
Promoting consistency in the application of Sharia principles.
Transparency
Encouraging transparency and governance practices.
Consumer Safeguard
Acting as a safeguard and building confidence in the industry.
Educational Seminars
The Board holds an average of five educational seminars each year.
Participants Annually
More than 300 people attend these seminars on average.
Active Contributions
The Board issues Fatwas on various matters and presents papers on Islamic finance in Canada and abroad.
Our Mission & Vision
Our Mission
To promote and develop Islamic finance in North America and advance the standards of Sharia-compliant financial practices.
Our Vision
To be the leading authority and trusted reference for Islamic finance in Canada and North America.
Governed by professionals with diverse expertise
The Board consists of a number of professionals from diverse backgrounds, including Islamic scholars, bankers, attorneys, accountants and educators. The members bring a rich combination of expertise and experience.
Need Guidance on Islamic Finance Matters?
Whether you’re developing a financial product, seeking educational support, or requiring independent mediation, IFAB can help guide the next step.
Contact IFAB