IFSB Working paper on Intermediaries in the Islamic Capital Market

Kuala Lumpur, 24 December 2019 – The Islamic Financial Services Board (IFSB) today issued its 13th research in the Working Paper series, WP-13: Intermediaries in the Islamic Capital Market (ICM), which investigates the pertinent role played by intermediaries in the ICM. This working paper, which is basically exploratory in nature, considers four key core principles in IFSB-21: Core Principles for Islamic Finance Regulation (Islamic Capital Market Segment) relating to ICM intermediaries’ assessment of issues affecting their intermediation activities in IFSB jurisdictions. 

The Secretary-General of the IFSB, Dr. Bello Lawal Danbatta stated, “This Paper is the fourth issuance in the IFSB’s Working Paper series this year”. He further added, “the changing market landscape where ICM intermediaries operate today makes managing their fiduciary responsibility towards their clients very complicated. As such, this working paper provides some exploratory findings on the market conduct, client protection, and the safety and soundness of the ICM intermediaries.”