The AAOIFI Governance and Ethics Board (AGEB) issues Governance Standard (GS) 14 on “Islamic Crowdfunding Governance”
press release
The AAOIFI Governance and Ethics Board (AGEB) issues Governance Standard (GS) 14 on “Islamic Crowdfunding Governance”
4 Jan 2023 | Wednesday AAOIFI
The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) Governance and Ethics Board (AGEB / the board) approved in its 27th meeting the issuance of the Governance Standard (GS) 14 on Islamic Crowdfunding Governance.
Technology adoption in the financial services sector is surpassing many other sectors. This can be observed in the existing financial services providers and the new entrants in the market who are introducing newer models of financial services, based on financial technology (FinTech). As a result of this challenge and taking into consideration the absence of relevant standards, AGEB has taken multiple initiatives for the development of standards in different areas of FinTech. The governance standard on Islamic crowdfunding is the first of such projects.
