(Extracted from Reuters on February 20, 2009)
The Kuala Lumpur-based Islamic Financial Services Board (IFSB), an umbrella group for Islamic financial regulators, said it had adopted guidelines to promote transparency for investors of collective investment schemes.
It also released rules on capital requirements for Islamic institutions involved in Islamic bond issuance and real estate investments.
IFSB's regulations are not binding on the sector and compliance is voluntary, as is the case with those issued by other Islamic finance industry bodies.
As at January 2009, IFSB had 178 members including the International Monetary Fund, World Bank, Bank for International Settlements and Islamic Development Bank.
The full guidelines are available at IFSB's website at www.ifsb.org
