UAE Central Bank and Bank Al-Maghrib host 7th Central Sharia Boards Forum

The Central Bank of the United Arab Emirates and Bank Al-Maghrib co-hosted the seventh session of the Central Sharia Boards Forum in the United Arab Emirates. The event included representatives from several nations, including Kuwait, Malaysia, Turkey, Nigeria, and Uzbekistan.

The forum focused on unifying Sharia standards and practices to create a more efficient and consistent Islamic financial system. Participants discussed the importance of aligning Sharia frameworks across different markets to better respond to modern economic requirements.

Specialized workshops addressed regulatory and legislative aspects of Islamic finance, alongside technological advancements such as asset tokenization and stablecoins. The discussions also covered the Sharia and regulatory implications of these technologies and the responsible use of advanced financial technology in developing Sharia-compliant products.