Glossary
IFA-OIC
Definition
International Islamic Fiqh Academy of the Organisation of Islamic Cooperation — an inter-governmental body that issues collective fiqh resolutions.
The IFA-OIC has issued landmark resolutions on currency trading, gold, futures, options, stock screening, and cryptocurrency. Resolutions are reached by consensus of scholars representing OIC member states.
Its resolutions are widely treated as authoritative collective ijtihad and cited alongside AAOIFI standards in Islamic finance fatwas worldwide.