Islamic Finance Advisory Board is a self-regulatory, non-profit, voluntary body engaged in the promotion and promulgation of Islamic Finance in Canada.
The Board was formed in 2008 to facilitate development of Sharia compliant financial products in Canada. One of its major functions at inception was to bring a measure of standardization to the Sharia compliant financial market. To date, it is the only institution in the country to provide one-of-a-kind services pertaining to this market segment.
The Board fulfills the need of establishing an authoritative body to oversee the rapidly expanding industry of Islamic financial services in order to ensure consistency and transparency, and also to act as a safeguard for consumers wishing to undertake Sharia complaint transactions.