Risk Management in
Islamic Financial Instruments
48
Table 3.1: IFSI Industry
Source: Islamic Research and Training Institute, 2014
Private Sector Public Sector Multilateral
Standard
Setting
 Central banks
 Capital markets
authorities
 Takaful regulators
 National Shariah
boards
 Other supervisors
 Accounting and
Auditing
Organization for
Islamic Financial
Institutions (AAOIFI)
 Islamic Financial
Services Board
(IFSB)
 Organization for
Islamic Cooperation
(OIC) Fiqh Council
Market
Catalysts
 Private liquidity
management
platforms
 Rating agencies
 Arbitration
bodies
 Interbank markets
 Shariah-compliant
deposit insurance
providers
 Liquidity
management
platforms by stock
exchanges and
central banks
 International Islamic
Liquidity
Management
Corporation (IILM)
 International Islamic
Financial Market
(IIFM)
 International Islamic
Court for Resolution
and Arbitration
(IICRA)
 International Islamic
Rating Agency (IIRA)
Information
and research
 Private
universities
 Research
institutes
 Data providers
 Public universities
 Public research
bodies
 Statistics agencies
 Shariah academies
and research
institutions
 Islamic Research and
Training Institute
(IRTI)
Training  Private
universities
 Training and
accreditation
institutes
 Public universities
 Public training and
accreditation
programs
 Islamic Research and
Training Institute
(IRTI)
Professional
Services
 Shariah advisers
Law firms
 Audit and
assurance firms
 Consulting firms