CBUAE hosts the launch of Islamic Finance Infrastructure Organisations’ Declaration

CBUAE hosts the launch of Islamic Finance Infrastructure Organisations’ Declaration

Abu Dhabi: The Central Bank of the UAE (CBUAE) hosted a series of meetings and discussions with attendance from key Islamic finance infrastructure organisations including the Islamic Financial Services Board (IFSB), the General Council for Islamic Banks and Financial Institutions (CIBAFI), and the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), and with its conclusion today 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 programmes, and sets targeted timeline for the initiatives to be implemented

The roadmap was announced at a roundtable attended by His Excellency Khaled Mohamed Balama, Governor of the CBUAE, and the Secretaries General of the organisations involved. This significant milestone to advance Islamic sustainable finance in line with sustainable development goals, came ahead of the 28th Conference of the Parties (COP 28) hosted in the United Arab Emirates.

The announcement of the roadmap follows the Islamic finance related events, hosted by the CBUAE and organised in collaboration with the Islamic finance infrastructure organisations. As part of these events, the IFSB organised a global forum on sustainability–related risks and opportunities, whereas the CIBAFI