Jeddah, 8 December 2015 - The Council of the Islamic Financial Services Board (IFSB) today resolved to appoint its Chairman and Deputy Chairman for the year 2016. H.E. Tarek Amer, Governor of the Central Bank of Egypt will steer the Chairmanship of the IFSB, while H.E. Dr. Valiollah Seif, Governor, Central Bank of the Islamic Republic of Iran was appointed Deputy Chairman. H.E. Tarek Amer will assume the chairmanship of the international standard-setting organisation from H.E. Agus D.W. Martowardojo, Governor, Bank Indonesia.
The new appointments will take effect on 1 January 2016. In light of this appointment, the 2016 Annual Meetings of the IFSB will be held in Cairo, Egypt in April 2016, hosted by the Central Bank of Egypt.
The 27th meeting of the IFSB Council, hosted by the Islamic Development Bank, was held on 8 December 2015 at the Islamic Development Bank Headquarters in Jeddah, Saudi Arabia. It was attended by seven central bank governors and heads of regulatory and supervisory authorities, as well as 14 senior representatives from among the Council and Full members of the IFSB, representing 17 countries. The meeting, which was chaired by the Governor, Bank Indonesia, H.E. Agus D.W. Martowardojo, was also attended by the President of the Islamic Development Bank.
Brief profiles of the newly appointed Chairman and Deputy Chairman are as follows:
H.E. Tarek Amer was appointed as the Governor of the Central Bank of Egypt (CBE) in November 2015. H.E. Amer served as Deputy Governor prior to his current appointment. His 27 years of banking experience covers a wide array of regions, including the Middle East and North Africa (MENA), Turkey, the Gulf and Asia. In Egypt, he has held senior executive positions, leading the corporate finance and investment banking businesses for Citibank and Bank of America for MENA and the Gulf regions. H.E. Amer previously served as Chairman of the Board of National Bank of Egypt, Deputy Chairman of Arab International Bank and was the Director of the National Bank of Egypt (UK) Limited. He was Deputy Chairman of Egyptian Banking Institute.
H.E. Dr. Valiollah Seif was appointed as the Governor of the Central Bank of the Islamic Republic of Iran on 26 August 2013. H.E. Dr. Seif also serves as Managing Director of Karafarin Bank in Iran. H.E. Dr. Seif has over 30 years of banking experience and served as Finance Director of Bank Sepah, Managing Director of Bank Mellat, Bank Saderat, Bank Sepah and Bank Melli Iran. He has also been Chairman of the Board of Future Bank B.S.C since November 2012.
The 27th Meeting of the IFSB Council is followed by the 12th Islamic Financial Stability Forum.
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.
© Press Release 2015
