Islamic Finance Board Halts Partnership with IMAN Invest Over Suspected Mismanagement

The Islamic Finance Consulting Board (IFCB) has terminated its partnership with Uzbek investment company IMAN Invest due to suspicions of irregularities in managing investor funds. An internal investigation revealed alleged violations of Islamic finance principles and Uzbek law, leading to a multi-million dollar deficit. The IFCB is not a state regulator.

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