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IFSB and ADB Signed MoU to Promote the Development of Islamic Financial Services Industry in Asia and Pacific

Date posted: 4 May 2019

The IFSB Secretary-General, Dr. Bello Lawal Danbatta and ADB Vice-President, Mr. Bambang Susantono during the MoU signing ceremony

4 May 2019, Nadi, Fiji – The Islamic Financial Services Board (IFSB) and the Asian Development Bank (ADB) signed a Memorandum of Understanding (MoU) to promote the development of the Islamic financial services industry in Asia and the Pacific. The signing ceremony took place in Nadi, Fiji during the ADB Annual meetings 2019.

The IFSB Secretary-General, Dr. Bello Lawal Danbatta and ADB Vice-President for Knowledge Management and Sustainable Development, Mr. Bambang Susantono signed the Memorandum of Understanding (MoU) on behalf of their institutions.

Dr. Bello Lawal Danbatta said, “This MoU provides an excellent opportunity for both institutions to cooperate, especially in knowledge enhancement and capacity building. The activities for collaborations would include conducting joint research, awareness and training programmes as well as facilitation the implementation of the IFSB Standards.

Under this MoU, the two institutions will work more closely to enhance peer learning and knowledge sharing in Islamic finance, including in banking, capital markets, and insurance for common member countries in the Asia and Pacific.

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