Mar 29 2012 |
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The Islamic Financial Services Board admits five new organisations into its Membership
Manama - Kingdom of Bahrain - The Council of the Islamic Financial Services Board (IFSB) has today resolved to admit two new regulatory and supervisory authorities into the IFSB membership - one as a Full Member and the other as an Associate Member. Three new market players (financial and educational institutions) have been admitted as Observer Members.The 20th meeting of the Council of the IFSB, hosted by the Central Bank of Bahrain , was held on 29 March 2012 at the Ritz-Carlton Bahrain, Hotel & Spa in Manama. It was chaired by the Governor of the Central Bank of Bahrain , H.E. Rasheed M. Al Maraj, and attended by the President of the Islamic Development Bank and 17 governors and governors' representatives from among the IFSB Council members.
The newly admitted members are:
Capital Market Authority, Oman
Associate Members
Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organisations, Kazakhstan
Amin Investment Bank, Islamic Republic of Iran
Lotus Capital Limited, Nigeria
International Centre for Education in Islamic Finance
The 187 members of the IFSB comprise 53 supervisory and regulatory authorities from the banking, capital markets and Islamic insurance (Takāful) sectors in 43 jurisdictions, as well as eight international inter-governmental organisations, and 126 market players (financial institutions, professional firms and industry associations).
The full list of the IFSB members is available on the IFSB website www.ifsb.org. The roles and responsibilities of the members (by category) are detailed in the IFSB Articles of Agreement that can be downloaded from the website.
-Ends-
About the Islamic Financial Services Board (IFSB)
The IFSB is an international standard-setting organisation that promotes and enhances the soundness and stability of the Islamic financial services industry by issuing global prudential standards and guiding principles for the industry, broadly defined to include banking, capital markets and insurance sectors. The IFSB also conducts research and coordinates initiatives on industry-related issues, as well as organises roundtables, seminars and conferences for regulators and industry stakeholders. Towards this end, the IFSB works closely with relevant international, regional and national organisations, research/educational institutions and market players.
The members of the IFSB comprise regulatory and supervisory authorities, international inter-governmental organisations and market players, professional firms and industry associations.
For more information about the IFSB, please visit www.ifsb.org.
Media Contact:
Mrs Siham Ismail Tel: 6 03 9195 1430
Email: siham@ifsb.org
© Press Release 2012
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