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Central Bank of the Islamic Republic of Iran to Assume the IFSB Chairmanship for 2017

Date posted: 14 December 2016

Cairo, 14 December 2016 – The Council of the Islamic Financial Services Board (IFSB) today resolved to appoint its Chairman and Deputy Chairman for the year 2017. H.E. Dr. Valiollah Seif, Governor of Central Bank of the Islamic Republic of Iran, will steer the Chairmanship of the IFSB, while H.E. Fazle Kabir, Governor, Bangladesh Bank was appointed Deputy Chairman. H.E. Dr. Valiollah Seif will assume the chairmanship of the international standard-setting organisation from H.E. Tarek Amer, Governor, Central Bank of Egypt. The new appointments will take effect on 1 January 2017.

The 29th meeting of the IFSB Council, hosted by the Central Bank of Egypt, was held on 14 December 2016 in Cairo. Egypt. It was attended by ten central bank Governors and Deputy Governors of regulatory and supervisory authorities, and ten senior representatives from among the Council and Full members of the IFSB, representing 14 countries and the Islamic Development Bank. The meeting was chaired by H.E. Tarek Amer.

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

H.E. Dr. Valiollah Seif is a veteran of banking and finance, and is one of the most distinguished figures in the Iranian banking system. His Excellency has a PhD in the field of accounting and now is a member of the Faculty of Management and Accounting of Allameh Tabatabaii University. His Excellency was appointed as the Governor of the Central Bank of The Islamic Republic of Iran and Chairman of the Money and Credit Council in August 2013. H.E. Dr. Seif has served as the managing director of major Iranian state-owned banks including Mellat, Saderat, Sepah and Melli and also has steered Karafarin, a major private Iranian bank. Moreover, His Excellency has chaired Future Bank in Bahrain and Melli Plc in London. H.E. Dr. Seif has written many articles in the areas of monetary policy, Islamic banking and has lectured on different subjects of accounting, Islamic banking and finance in Iran.

H.E. Fazle Kabir is the former Senior Secretary to the Government of Bangladesh, and joined as the 11th Governor of Bangladesh Bank on 20 March 2016. During his 34 years in the Bangladesh Civil Service, he held key positions in different ministries. He 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 Janata Bank Limited between 2008 and 2010, and Bangladesh Bank from 2012 to 2014. Prior to joining Bangladesh Bank, he held the position of Chairman of the Board of Directors of Sonali Bank Limited. His Excellency has a B.A. (Honours) and M.A. from the Department of Economics of the University of Chittagong.

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