The IFSB Secretariat joined the Malaysian IFSB members and stakeholders on stage together with Tan Sri Dr. Zeti Aziz to mark the beginning of IFSB’s 20th Anniversary celebration.
Kuala Lumpur, Malaysia, June 13, 2023 – The Islamic Financial Services Board (IFSB) proudly announces a significant milestone in its journey, having expanded its membership from 9 members in March 2003 to 187 esteemed members in 2023 from around the world. This impressive membership growth comprises of 80 regulatory and supervisory authorities, 10 international inter-governmental organisations, and 97 market players, including financial institutions, professional firms, industry associations, and stock exchanges, operating across 57 jurisdictions.
These triumphant milestones make a glorious banner for IFSB to parade 2023 – the 20th year of its establishment. Headquartered in Kuala Lumpur, the anniversary celebrations commenced with a momentous local appreciation and Eid al-Fitr dinner gathering, bringing together the Secretariat, IFSB members, and stakeholders based in Malaysia.
The distinguished presence of Tan Sri Dr. Zeti Aziz, former Governor of Bank Negara Malaysia which is a founding member of IFSB, added great honour to the evening. Reflecting on the IFSB’s beginnings, Tan Sri Dr. Zeti recalled “It was about 22 years ago that nine central bank governors from the Middle East and Asia (worked together) with the president of the Islamic Development Bank (IsDB) with a series of meetings that spanned two years to explore the idea of establishing an international prudential standard setting organisation that was committed to the sound and stable development of the Islamic financial services industry (IFSI)”. Her heartfelt recollection deeply moved the audience, and in recognition of her invaluable contributions, Tan Sri Dr. Zeti Aziz was presented with the prestigious “Grand Patron Award” by IFSB Secretary-General Dr. Bello Lawal Danbatta.
Dr. Danbatta took a moment to express his sincere gratitude to all participants, particularly the Malaysian members and stakeholders of IFSB as well as staff members of the IFSB, for their pivotal role in this momentous journey and occasion of the IFSB. “I would like to once again extend my deepest appreciation to each and every one of you for being a part of this momentous occasion.” He extended tokens of appreciation to representatives from Perbadanan Insurans Deposit Malaysia (PIDM), MUFG Bank Malaysia, Cagamas Berhad, CIMB Islamic Bank Berhad, RHB Islamic Bank Berhad, Alliance for Financial Inclusion (AFI), International Islamic Liquidity Management (IILM), World Bank, Islamic Development Bank (IsDB) Center of Excellence, INCEIF University, and Islamic Banking and Finance Institute Malaysia (IBFIM).
The celebration reached its pinnacle with the prestigious award presentation honouring exceptional staff of the IFSB for their outstanding contributions to the organisation over the years. Dr. Danbatta presented the awards on stage, with Tan Sri Dr. Zeti Aziz in attendance. The award recipients were:
IFSB Long Service Award
IFSB Excellence Service Award
The evening concluded on a high note with a final cultural performance, a flashback video of IFSB’s 10th Anniversary and IFSB’s 2023 Corporate Presentation. This emotionally charged finale left guests with a sense of fulfilment and deep appreciation for the remarkable 20-year journey of the IFSB.
The event served as the commencement of IFSB’s 20th Anniversary half-year-long celebration, with the main Anniversary Dinner scheduled for the evening of 15 August 2023, in conjunction with the IFSB 2023 Annual Meetings and Side Events which is scheduled on 14 – 16 August 2023 at Fairmont Hotel in Riyadh, Kingdom of Saudi Arabia, and to be hosted by the Saudi Central Bank (SAMA).
