Kuala Lumpur, March 20, 2007 – The 10th Meeting of the Council of the Islamic Financial Services Board (IFSB) will be held on 26th March 2007 at the Kuala Lumpur Convention Centre (KLCC). Dr. Zeti Akhtar Aziz, Chairperson of the IFSB and Governor Bank Negara Malaysia, will chair the high level meeting to be attended by 11 central bank’s governors, President of the Islamic Development Bank, 2 deputy governors and 2 governor’s representatives.
The governors who have confirmed their attendance are from the central banks and monetary authorities of Bangladesh, Brunei, Egypt, Iran, Malaysia, Pakistan, Qatar, Saudi Arabia, Singapore, Sudan and United Arab Emirates. The deputy governors are from the central banks of Bahrain and Indonesia, while representatives are from Kuwait and Jordan.
The IFSB Council is expected to adopt the 10 Year Framework for the Development of the Islamic Financial Services Industry as well as discuss the admission of new members into the IFSB. The IFSB currently has 110 members from among regulatory and supervisory authorities, international intergovernmental organisations and financial market players. These members make up the General Assembly of the IFSB. The 5th General Assembly of the IFSB will be held immediately after the Council Meeting.
The IFSB plays an active role in the development of international prudential standards which aim to enhance the soundness and stability of the Islamic financial services industry. Input from among the members, who are operating in over 21 jurisdictions, provides feedback to the IFSB in the development of standards and guidelines which attempts to be relevant across borders and in different jurisdictions.
The IFSB is also organising an Interactive Session, Inaugural Public Lecture on Financial Policy and Stability and 2 International Seminars in conjunction with the Annual Meetings from 26 – 29 March 2007 at the Kuala Lumpur Convention Centre.
The Side Events are:
All the Side Events are open to the Public. Fees are only applicable for the 3rd Seminar on Legal Issues, while the others are free of charge. Information and registration details may be obtained from the IFSB website or by emailing [email protected] / [email protected] . They may also be reached at 03 2698 4248, ext. 116 (Farrah) or ext. 119 (Ida).
The IFSB Annual Meetings and Side Events are hosted by Bank Negara Malaysia. Bank Negara Malaysia will also be hosting the Global Islamic Finance Forum (GIFF).
