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Press Release > 2020

The IFSB Admits two Organisations into Its Membership

Date posted: 10 December 2020

10 December 2020, Kuala Lumpur, Malaysia – The Council of the Islamic Financial Services Board (IFSB) today resolved to approve the admission of two organisations into the IFSB membership. These include one supervisory authorities and one market player as Observer Members.

The newly admitted members are:

Observer Member

  1. The Moroccan Capital Market Authority, Morocco
  2. Marble Capital Limited, Nigeria 

The membership of the IFSB is divided into three categories, namely Full Member, Associate Member and Observer Member. The Full Membership, which is the sole membership with voting rights, is available to the financial sector supervisory authorities of each sovereign country.

To date, the 188 members of the IFSB consist of 79 supervisory and regulatory authorities from the banking, capital markets and Islamic insurance (takāful) sectors representing 57 jurisdictions, as well as 9 international inter-governmental organisations, and 100 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 IFSB website.

The Council Meeting was attended by Central Bank Governors and Deputy Governors, top senior officials and Heads of Regulatory and Supervisory Authorities as well as senior representatives from among the Council and Full members of the IFSB, representing 21 countries and the Islamic Development Bank.

 


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