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.
حَدَّثَنَا أَبُو الْيَمَانِ، قَالَ: أَخْبَرَنَا شُعَيْبٌ، عَنِ الزُّهْرِيِّ، قَالَ: أَخْبَرَنِي أَبُو إِدْرِيسَ عَائِذُ اللَّهِ بْنُ عَبْدِ اللَّهِ، أَنَّ عُبَادَةَ بْنَ الصَّامِتِ رَضِيَ اللَّهُ عَنْهُ، وَكَانَ شَهِدَ بَدْرًا وَهُوَ أَحَدُ النُّقَبَاءِ لَيْلَةَ الْعَقَبَةِ، أَنَّ رَسُولَ اللَّهِ صَلَّى اللَّهُ عَلَيْهِ وَسَلَّمَ، قَالَ وَحَوْلَهُ عِصَابَةٌ مِنْ أَصْحَابِهِ: "بَايِعُونِي عَلَى أَنْ لَا تُشْرِكُوا بِاللَّهِ شَيْئًا، وَلَا تَسْرِقُوا، وَلَا تَزْنُوا، وَلَا تَقْتُلُوا أَوْلَادَكُمْ، وَلَا تَأْتُوا بِبُهْتَانٍ تَفْتَرُونَهُ بَيْنَ أَيْدِيكُمْ وَأَرْجُلِكُمْ، وَلَا تَعْصُوا فِي مَعْرُوفٍ، فَمَنْ وَفَى مِنْكُمْ فَأَجْرُهُ عَلَى اللَّهِ، وَمَنْ أَصَابَ مِنْ ذَلِكَ شَيْئًا فَعُوقِبَ فِي الدُّنْيَا فَهُوَ كَفَّارَةٌ لَهُ، وَمَنْ أَصَابَ مِنْ ذَلِكَ شَيْئًا ثُمَّ سَتَرَهُ اللَّهُ فَهُوَ إِلَى اللَّهِ إِنْ شَاءَ عَفَا عَنْهُ وَإِنْ شَاءَ عَاقَبَهُ"، فَبَايَعْنَاهُ عَلَى ذَلِك.
Sahih hadith: Narrated 'Ubada bin As-Samit: who took part in the battle of Badr and was a Naqib (a person heading a group of six persons), on the night of Al-'Aqaba pledge: Allah's Apostle said while a group of his companions were around him, Swear allegiance to me for:
1. Not to join anything in worship along with Allah.
2. Not to steal.
3. Not to commit illegal sexual intercourse.
4. Not to kill your children.
5. Not to accuse an innocent person (to spread such an accusation among people).
6. Not to be disobedient (when ordered) to do good deed. The Prophet added: Whoever among you fulfills his pledge will be rewarded by Allah. And whoever indulges in any one of them (except the ascription of partners to Allah) and gets the punishment in this world, that punishment will be an expiation for that sin. And if one indulges in any of them, and Allah conceals his sin, it is up to Him to forgive or punish him (in the Hereafter). 'Ubada bin As-Samit added: So we swore allegiance for these. (points to Allah's Apostle)
Reference: Sahih al-Bukhari 1: Chapter 2, Hadith 18.