Kuala Lumpur – The Islamic Financial Services Board (IFSB) and International Shari'ah Research Academy for Islamic Finance (ISRA) renewed an agreement to facilitate cooperation between the two organisations relating to research development and promotion of education in Islamic finance.
The IFSB Secretary-General, Dr. Bello Lawal Danbatta and ISRA Executive Director, Prof. Dr. Mohamad Akram Laldin, signed the Memorandum of Understanding (MoU), in Kuala Lumpur, Malaysia on 20 February 2019.
This mutual co-operation aims to strengthen the efforts of the two institutions in the following areas:
• To participate mutually in the relevant activities of each other relating to research, development, training and education;
• To explore avenues for developing or undertaking joint research and development in areas of utmost priority concerning Islamic financial services industry, and whenever appropriate, to jointly publish, promote or disseminate any works of research for use and reference by the IFSB and ISRA or other persons in promoting and developing
Islamic financial services industry;
• To explore the possibility of the Parties supporting awareness programmes, which include conferences, seminars, workshops, roundtables, trainings or any other events organised by each other relating to Islamic financial services industry in either country, or anywhere in the world; and
• To explore the possibility of Islamic Finance Knowledge Repository (I-FIKR) as a key tool for supporting knowledge work.
The joint research initiatives, which have been key activities undertaken by the two organisations in a previous MoUs signed in 2012 and 2015, will continue to be a key feature of this collaboration.
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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.
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