A standard is a level of quality used as a measure or model. Governing authorities across various domains monitor for compliance with set standards as a minimum acceptable benchmark.
Under the DIEDC Strategy, the Centre prioritises the development and implementation of a legislative framework for the Islamic economy with the aim of establishing unified global sharia-compliant standards that will govern the activity of all stakeholders around the world operating within the Islamic economy. DIEDC also seeks to facilitate the establishment of sharia control and audit systems.
The provision of a single set of universally accepted standards that cover all aspects of the Islamic economy is poised to boost trade among markets and harmonise diverse sectors.