International Islamic Financial market (IIFM)

The International Islamic Financial (IIFM) market was established in Bahrain to provide the liquidity and Islamic banking products needed by Islamic banks.

IIFM is the nucleus of Islamic banking and financial industry infrastructure institutions. It was founded in April 2002 in Bahrain. It is empowered to establish, develop and promote the establishment of financial markets.

The International Islamic Financial market is a global non-profit organization that was established with a collective effort for five countries: Bahrain, Brunei, Indonesia, Malaysia, Sudan, and the Islamic Development Bank. It has been established as a support institution for Islamic capital and the cash market in the Islamic finance industry, and to take its role in the development of primary and secondary markets.

The management of the international Islamic Financial market consists of two basic committees, the Shariah Committee, which includes Islamic thinkers, and specializes in determining the compatibility of investment instruments with the principles of Islamic Sharia. And another Committee for Development and Studies. This is in addition to a Chief Executive Officer.

The International Islamic Financial market seeks to be an active player in the development of the capital market and the primary or secondary Islamic currency market. The growing demand for Islamic financial instruments, privatization programms in a number of Islamic countries and increasing technological development are some of the features of the globalization of the capital market.

The International Islamic Financial market aims to coordinate international efforts to standardize the standards and fundamentals of Islamic capital markets, and to address the practical and legitimate challenges of issuing Islamic instruments by creating long and short-term Islamic financial tools to meet the challenges of developing The Islamic capital market, which is especially focused on the role of Islamic instruments in the development of this market. In order to do so, the international Islamic Financial market seeks to enter into alliances with the global institutions involved in the field.

Addressing the liquidity problem of Islamic banks and finding new investment alternatives is one of the objectives of the international Islamic financial market, to create new investment instruments and create a secondary market and new investment opportunities. Most of the activities of Islamic banks are focused on dealing in goods, while there are many investment instruments available to Islamic banks, such as Islamic instruments and leasing instruments that have started to be put in the market. These tools help address the liquidity problem of Islamic banks.

The goal of the Islamic financial market is to strengthen the interconnection and complementarity between the financial centers to establish, develop and promote a secondary financial market that trades in products and instruments compatible with Islamic sharia. In addition to activating and adjusting international financing instruments for trade and capital flows in accordance with Islamic sharia.

The objectives of the international financial market are summarized as follows:

• Establish, develop and organize an international financial market based on the provisions and principles of Islamic Sharia.
• Create a working environment that encourages both Islamic and non-Islamic financial institutions to participate actively in the secondary market.
• Improving the cooperative framework between Islamic financial institutions at the global level.
• Coordinate and improve the market by defining the general lines of the decision exporters and the marketing of Islamic financial products and instruments.
• Working to improve the framework for cooperative action between Islamic countries and their financial institutions.