Enabling Sharia-compliant Financial Solutions
Shariah Governance
Establishing and overseeing Shariah standards for Islamic financial products and structures in Canada.
Independent Oversight
Providing independent review, certification, and audit to ensure ongoing Shariah compliance and integrity.
Expert Advisory
Supporting institutions with Shariah-compliant structuring, governance frameworks, and regulatory alignment.
About CIFB
The Canadian Islamic Finance Board (CIFB) is an independent, non-profit organization dedicated to establishing and overseeing Shariah governance standards for Islamic finance in Canada.
Initiated in collaboration with leading scholars and community institutions, CIFB provides certification, audit, and advisory services to ensure that financial products align with established Islamic principles while operating within Canadian regulatory frameworks.
Through its work, CIFB promotes transparency, strengthens trust, and supports the development of a credible and sustainable Islamic finance ecosystem across Canada.
Vision
To establish CIFB as the leading and most trusted Shariah authority for Islamic finance in Canada, setting national standards for governance, integrity, and transparency, and enabling the sustainable growth of authentic, ethical, and Shariah-compliant financial solutions that serve the diverse needs of Canadians.
Mission
CIFB is committed to advancing the integrity, transparency, and accessibility of Islamic finance in Canada.
Its mission is to provide independent Shariah oversight, establish robust governance frameworks, and ensure that all approved financial solutions adhere to authentic Islamic principles while operating within a sound regulatory environment.
By doing so, CIFB builds confidence in Islamic financial services and supports individuals and institutions in accessing ethical, And Sharia financial solutions
Core Values
Integrity
Upholding the highest standards of honesty, independence, and ethical responsibility in all decisions.
Authenticity
Ensuring all products, decisions, and practices genuinely reflect true Islamic principles and ethical intent.
Transparency
Promoting clarity, accountability, and trust in all governance, audit, and certification processes.
Our Core Functions
Shariah Certification
Independent certification of financial products and structures to ensure full compliance with authentic Islamic principles.
Shariah Audit
Ongoing audit and review processes to verify continued adherence to approved Shariah frameworks and standards.
Advisory & Structuring
Providing expert guidance to institutions in developing and implementing Shariah-compliant financial solutions.
Shariah Training & Education
Providing training and educational programs to institutions, professionals, and stakeholders to enhance understanding of Islamic finance principles and ensure proper implementation of Shariah-compliant practices.
Product Development
Supporting institutions in developing financial products and structures that align with Shariah requirements, address diverse market needs, and are prepared for formal certification
Sharia Certification Process
01
Initial Consultation
02
Engagement Letter
03
Due Diligence & Structuring
04
Shariah Review & Approval
05
Implementation & Ongoing Oversight
Legislative Framework
Alberta’s Financial Statutes Amendment Act, 2024 (No. 2) (Bill 32) represents a landmark development in advancing ethical and alternative finance in Canada.
This milestone follows over two years of intensive work and structured engagement led by the Canadian Islamic Finance Board (CIFB), in close collaboration with the Government of Alberta, Alberta Treasury Board and Finance, and key industry partners including Servus Credit Union.
Through this dedicated working group, foundational regulatory enhancements were developed and advanced to enable the introduction of Shariah-aligned financial solutions within provincially regulated institutions—establishing one of the first formalized regulatory pathways of its kind in North America.
CIFB is proud to have played a central role in supporting this progress, contributing to a more inclusive, innovative, and ethically grounded financial ecosystem.