This document outlines the policies and procedures necessary for the establishment of Sharia-compliant credit unions, or Islamic Investment and Finance Cooperatives (IIFCs). It is tailored especially to the needs of IIFCs in developing markets, and based on the experience of World Council Credit Union officials in Afghanistan. It has thirteen chapters: (1) Membership Policies and Procedures; (2) Shares and Savings Mobilization; (3) Islamic Compliant Financing; (4) Collections; (5) Provisions and Allowances for Bad Debt; (6) Assets and Liability Management; (7) Capitalization and Capital Adequacy; (8) Accounting; (9) Cash Operations; (10) Internal Controls; (11) Human Resources; (12) Procurement; (13) Information Technology and Security.