Dhaka:The Seventh Forum of Central Shariah Authorities was held in the United Arab Emirates, co-chaired by the Central Bank of the UAE (CBUAE) and Bank Al-Maghrib. The gathering included representatives from central Shariah authorities of countries such as Kuwait, Malaysia, Türkiye, Nigeria, and Uzbekistan.

According to Emirates News Agency, the Forum was part of the strategic partnership between the CBUAE and Bank Al-Maghrib, aiming to enhance coordination and share expertise in Islamic finance. It focused on keeping pace with Shariah, regulatory, and legal developments that support the sustainability and growth of the sector at both regional and international levels.

Participants engaged in discussions on harmonizing Shariah standards and practices to create a more efficient and consistent Islamic financial system. These efforts are intended to help the system adapt to evolving market needs. The importance of central Shariah authorities staying abreast of rapid changes in the global financial sector was also highlighted, to develop innovative Shariah-compliant financial solutions that cater to modern market demands.

The Forum included specialized workshops that addressed regulatory and legislative aspects of Islamic finance, as well as technological advancements such as asset tokenization and stablecoins. These workshops also explored advanced financial technologies and responsible innovation in developing Islamic financial products and services.

The CBUAE's commitment to advancing the Islamic finance ecosystem and strengthening cooperation with regulatory and Shariah authorities worldwide was evident throughout the Forum. This commitment further positions the UAE as a leading global hub for Islamic finance and Shariah-compliant financial innovation.