IsDB helps launch global legislative framework for Islamic finance

The Islamic Development Bank, the Dubai Islamic Economy Development Centre, and the UAE Ministry of Finance have launched a new initiative to create a unified global legal and legislative framework for the Islamic finance sector.

The framework is set to enable the Islamic economy to expand its reach, and comes amid calls for greater standardisation within the sector. Norton Rose Fulbright has been recently appointed to provide legal advice in drafting the code for the global framework.