The Council's activities are aimed at developing international standards for the regulation and supervision of Islamic financial institutions, to implement effective corporate governance and risk management mechanisms, as well as to conduct research and capacity building of the staff in this field, and to assist member organisations in these matters.
Membership in this organization will enable the Central Bank to explore the experience of other countries and implement best international practices
in the regulation and supervision of Islamic financial institutions.
For reference: The Council was established in 2002 and is headquartered in Kuala Lumpur (Malaysia). Currently, the Council has 188 members, including 81 regulators and supervisors, 10 international intergovernmental organisations, 97 market participants. Also, the financial regulators of Kazakhstan, Kyrgyzstan and Tajikistan are members of the Council.
(20) The statement of the Prophet I know Allah تعالیٰ better, than all of you do.
حَدَّثَنَا مُحَمَّدُ بْنُ سَلَامٍ، قَالَ: أَخْبَرَنَا عَبْدَةُ، عَنْ هِشَامٍ، عَنْ أَبِيهِ، عَنْ عَائِشَةَ، قَالَتْ: "كَانَ رَسُولُ اللَّهِ صَلَّى اللَّهُ عَلَيْهِ وَسَلَّمَ إِذَا أَمَرَهُمْ، أَمَرَهُمْ مِنَ الْأَعْمَالِ بِمَا يُطِيقُونَ، قَالُوا: إِنَّا لَسْنَا كَهَيْئَتِكَ يَا رَسُولَ اللَّهِ، إِنَّ اللَّهَ قَدْ غَفَرَ لَكَ مَا تَقَدَّمَ مِنْ ذَنْبِكَ وَمَا تَأَخَّرَ، فَيَغْضَبُ حَتَّى يُعْرَفَ الْغَضَبُ فِي وَجْهِهِ، ثُمَّ يَقُولُ: إِنَّ أَتْقَاكُمْ وَأَعْلَمَكُمْ بِاللَّهِ أَنَا".
Sahih hadith: Narrated 'Aisha: Whenever Allah's Apostle ordered the Muslims to do something, he used to order them deeds which were easy for them to do, (according to their strength and endurance). They said, O Allah's Apostle! We are not like you. Allah has forgiven your past and future sins. So Allah's Apostle became angry and it was apparent on his face. He said, I am the most Allah fearing, and know Allah better than all of you do.
Reference: Sahih al-Bukhari 1: Chapter 2, Hadith 20.