Kuala Lumpur – The Islamic Financial Services Board (IFSB) - an international standard-setting organisation for the global Islamic financial services industry - proudly announces the appointment of Dr. Ghiath Shabsigh as its fourth Secretary-General, effective 1st April 2024. Dr. Shabsigh succeeds Dr. Bello Lawal Danbatta, whose tenure concluded on 28th January 2024.

Prior to his recent appointment as the Secretary General of the IFSB, Dr. Shabsigh served as Assistant Director at the International Monetary Fund (IMF)’s Monetary and Capital Markets Department where he played a pivotal role in driving IMF’s central banking and fintech initiatives. His illustrious career includes 25 years of experience in the area of Islamic finance, where he has been instrumental in shaping international institutions, formulating policies and standards, conducting analytical work, and providing technical assistance in Islamic banking regulatory frameworks, central banking operations, and sukuk markets for IMF member countries.

Dr. Shabsigh holds a PhD in Monetary and International Economics, an MA in Economic Development, a BSc. in Economics and Business, and several professional qualifications in banking and securities market operations.

His appointment as the Secretary General of the IFSB was endorsed by the Council of the IFSB during its 43rd meeting in Jeddah, Saudi Arabia last December 2023. During this transitional period, Mr. Suhail Issa Al Zadjali has been appointed as the Acting Secretary-General.

Under the guidance of Dr. Shabsigh, the IFSB will continue to solidify its role as a pivotal standard-setting body. It remains resolute in its dedication to strengthening the Islamic finance sector and advancing its initiatives, in line with the shifting needs and aspirations of its members.

IFSB recently celebrated its 20-year mark and has a global membership base of 191 entities spanning 58 jurisdictions as of December 2023. This includes the Islamic Development Bank, the Asian Development Bank, the Bank for International Settlements, the International Monetary Fund, the World Bank, and the West African Development Bank.

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

IFSB Media Contact:
Nor Atiqah/ Ammar Khairi
Email: nor.atiqah@ifsb.org/ ifsb_sec@ifsb.org