Guidance Documents on Value-based Intermediation: Strengthening the Roles and Impact of Islamic FinanceRelease Date: 03 Oct 2018
The Bank today issued 3 guidance documents to facilitate the practical adoption of Value-based Intermediation (VBI). The VBI aims to re-orient Islamic finance business models towards realising the objectives of Shariah that generate positive and sustainable impact to the economy, community and environment through practices, processes, offerings and conduct.
- The Implementation Guide for VBI provides guidance on practical value-based banking practices, as reference to Islamic financial institutions that intend to embark on the Value-based Intermediation initiative. It also outlines the phases of implementation and deliberates on key implementation challenges alongside some pragmatic solutions;
- The VBI Financing and Investment Impact Assessment Framework (VBIAF) facilitates the implementation of an impact-based risk management system for assessing the financing and investment activities of Islamic banking institutions in line with their respective VBI commitment. (This paper is jointly developed with The World Bank and INCEIF); and
- The VBI Scorecard provides an overview that covers purposes, key components of assessment and proposed measurement methodology. (This paper is jointly developed with the Global Alliance for Banking on Values)
The Bank welcomes constructive feedback on the VBIAF and VBI Scorecard documents.
Responses in the form of written feedback are to be submitted to email@example.com by 30 November 2018.
Further details can be found in the following documents:
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