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Press Release > 2018

Bangladesh Bank to Assume the IFSB Chairmanship for 2019

Date posted: 6 December 2018

6 December 2018, Jeddah, Kingdom of Saudi Arabia - The Council of the Islamic Financial Services Board (IFSB) today resolved to appoint its Chairman and Deputy Chairperson for the year 2019. H.E. Fazle Kabir, the Governor of Bangladesh Bank, will take over the Chairmanship of the IFSB, while H.E. Nor Shamsiah Mohd Yunus, the Governor of Bank Negara Malaysia will be the Deputy Chairperson. H.E. Fazle Kabir will take over the chairmanship of the IFSB from H.E. Dr. Mohammad Y. Al Hashel, the Governor of the Central Bank of Kuwait. The new appointments will take effect on 1 January 2019.

Brief profiles of the newly appointed Chairman and Deputy Chairperson are as follows:

H.E. Fazle Kabir assumed duty as the 11th Governor of Bangladesh Bank since 20 March 2016. Prior to joining Bangladesh Bank (BB), His Excellency is the former Senior Secretary to the Government of Bangladesh.

H.E. Fazle Kabir started his professional career in 1980 in the Railway Transpotation and Commercial cadre of Bangladesh Civil Service and in 1983, His Excellency joined the Bangladesh Civil Service in the Administration cadre. During his 34 years in the Bangladesh Civil Service, His Excellency held various key positions in different ministries. His Excellency served as the Deputy Commissioner and District Magistrate of Kishoreganj district, Joint Secretary in the Ministry of Education, Director General of the National Academy for Planning and Development, Director General of the BCS Administration Academy, Secretary Ministry of Railways and Secretary Finance Division of the Ministry of Finance.

His Excellency also served as a Director in the Board of Directors of state-owned commercial bank, Janata Bank Limited between 2008 and 2010, and Bangladesh Bank from 2012 to 2014. Prior to joining BB as Governor, His Excellency held the position of Chairman of the Board of Directors of the largest commercial bank of Bangladesh, Sonali Bank Limited.

His Excellency has a B.A. (Honours) and Master’s degree from the Department of Economics of the University of Chittagong.

H.E. Nor Shamsiah Mohd Yunus is the 9th Governor of Bank Negara Malaysia, assuming office on 1 July 2018. Her Excellency chairs Bank Negara Malaysia’s Monetary Policy Committee, the Financial Stability Committee and the Financial Stability Executive Committee.

Prior to her appointment as Governor, Her Excellency served as Assistant Director of the Monetary and Capital Markets Division of the International Monetary Fund.

H.E. Nor Shamsiah joined Bank Negara Malaysia in 1987 and has served in various areas including prudential regulations, legislation, policies and guidelines for the financial sector and supervision. Her Excellency was involved in the financial sector resolution initiatives during the Asian financial crisis. Her Excellency was instrumental in the formulation and implementation of the Financial Sector Masterplan (2001-2010) and Financial Sector Blueprint (2011-2020) that charted the development of the Malaysian financial system.

As Deputy Governor from 2010 to 2016, Her Excellency was responsible for banking, insurance and Takaful supervision, financial intelligence and enforcement, talent management, finance and shared services of the central bank. Her Excellency also represented Bank Negara Malaysia in the Basel Committee on Banking Supervision and the Financial Action Task Force.

H.E. Nor Shamsiah graduated from the University of South Australia with a Bachelor of Arts in Accountancy and is a Certified Practising Accountant (CPA).

The 33rd meeting of the IFSB Council, hosted by the Islamic Development Bank Group (IsDB), was held on 6 December 2018 in Jeddah, Kingdom of Saudi Arabia. The Council Meeting was chaired by H.E. Dr. Mohammad Y. Al Hashel, the Governor of the Central Bank of Kuwait and Chairman of the IFSB for 2018, attended by the President of the IsDB, H.E. Dr. Bandar Mohammed Hajjar, 12 central bank Governors and Commissioners of regulatory and supervisory authorities, and 10 senior representatives from among the Council and Full members of the IFSB, representing 19 countries.

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