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The IFSB Admits Six Organisations into Its Membership

Date posted: 11 December 2013

Doha, 11 December 2013 – The Council of the Islamic Financial Services Board (IFSB) has yesterday resolved to approve the application of Indonesia Financial Services Authority, to join as a Full Member of the organisation. The Council has also admitted the Central Bank of Libya as an Associate Member and four financial institutions as Observer Members of the IFSB.

The 23rd Meeting of the IFSB Council was hosted and chaired by H.E. Sheikh Abdulla Saoud Al-Thani, Governor, Qatar Central Bank and attended by the President of the Islamic Development Bank, 17 governors and governors' representatives from among the members of the Council and four Full members representatives of the IFSB.

The newly admitted members are:

Full Member

  1. Indonesia Financial Services Authority, Indonesia

Associate Member

  1. Central Bank of Libya, Libya

Observer Members

  1. Chase Bank (Kenya) Limited, Kenya
  2. Export-Import Bank of Malaysia Berhad, Malaysia
  3. Bank Muscat S.A.O.G., Oman
  4. Bank Nizwa S.A.O.G., Oman

The 185 members of the IFSB comprise 58 supervisory and regulatory authorities from the banking, capital markets and Islamic insurance (Takāful) sectors in 45 jurisdictions, as well as eight international inter-governmental organisations, and 119 market players (financial institutions, professional firms and self-regulatory organisations).

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 website.

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