Westlaw Business and the Islamic Financial Services Board (IFSB) has announced an agreement to provide global business law professionals with IFSB’s unique direction on Sharia law within the Westlaw Business Islamic Finance Centre.

Westlaw Business is part of Thomson Reuters, while the IFSB is an international standard-setting organization that promotes and enhances the soundness and stability of the Islamic financial services industry.

The organization issues global prudential standards and guiding principles for the industry, which includes banking, capital markets and insurance sectors.

The IFSB also conducts research and coordinates initiatives on industry-related issues, as well as organizes roundtables, seminars and conferences for regulators and industry stakeholders.

“Structuring capital transactions to be compliant with Sharia law requires current and authoritative information,” said Mazen Zein, product manager, Westlaw Business.

"Our agreement with IFSB enables us to provide their invaluable insights on Islamic Sharia law and regulations to our customers worldwide. Business law practitioners need to understand the developments and issues within the Islamic finance industry," Zein noted.

"Together, Westlaw Business and IFSB will further the availability and understanding of this information, ultimately increasing the transparency of the Islamic finance industry," he added.

The Islamic Finance Centre on Westlaw Business is the first of its kind in the legal community and provides insight into Islamic finance deals and industry standards for lawyers and product-structuring teams.

It is part of a global suite of research and workflow process tools aimed at business law professionals working on high-value transactions.

In addition to the Islamic Finance Centre, Westlaw Business features a global Business Citator, with filings and information relating to over 900,000 public and private businesses worldwide.

Westlaw Business also includes these specialized online work centres: M&A; Corporate Finance; Restructuring; Securities-UK; Securities-US; Securities-Canada; Private Equity; and Livedgar.-TradeArabia News Service