Outcomes of the Third Roundtable Meeting between Centralised Shariah Advisory Authorities in Islamic FinanceEmbargo : For immediate release Not for publication or broadcast before 2045 on Monday, 3 January 2022
03 Jan 2022
Bank Negara Malaysia (BNM) hosted the Third Roundtable Meeting between Centralised Shariah Advisory Authorities in Islamic Finance (CSAAs) on 21 December 2021. The meeting was held virtually and participated by more than 50 delegates from 16 countries and three standard-setting bodies.
The meeting was chaired by the Chairman of the BNM Shariah Advisory Council, Tan Sri Dr. Mohd Daud Bakar. It aims to further strengthen connectivity and foster mutual respect among Shariah boards at both central bank and national levels.
The following outcomes were highlighted during the meeting:
 The CSAA is established to deliberate on Shariah matters in Islamic finance. Each country adopts a different model and approach in establishing their respective Shariah advisory authority, to commensurate with the size and complexity of its Islamic finance industry as well as the local custom. The role of the Shariah advisory authority has been pivotal in preserving the Shariah sanctity and public confidence on Islamic financial transactions, creating a conducive environment for the industry to innovate and grow.
 Afghanistan, Algeria, Bahrain, Bangladesh, Brunei, Djibouti, Indonesia, Kuwait, Libya, Malaysia, Maldives, Morocco, Nigeria, Pakistan, Turkey and United Arab Emirates.
 Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), General Council for Islamic Banks and Financial Institutions (CIBAFI) and Islamic Financial Services Board (IFSB).
Bank Negara Malaysia
03 January 2022
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