Qatar Central Bank Governor HE Sheikh Abdullah bin Saud al-Thani (pictured) has been appointed Chairman of the Islamic Financial Services Board (IFSB) for 2013.
The QCB governor will take over the helm of the international standard-setting organisation from Rasheed al-Maraj of the Central Bank of Bahrain.
Dato Mohd Rosli Sabtu, managing director of Autoriti Monetari Brunei Darussalam has been appointed as the deputy chairman of the IFSB.
The new appointments will take effect on January 1, 2013. The 2013 annual meetings of the IFSB will be held in Doha in April 2013.
Based in Kuala Lumpur, the IFSB serves as an international standard-setting body of regulatory and supervisory agencies that strive to ensure the soundness and stability of the Islamic financial services industry, which is defined broadly to include banking, capital market and insurance.
As of December 2012, the IFSB’s 184 members comprise 55 regulatory and supervisory authorities, eight international inter-governmental organisations and 121 market players, professional firms and industry associations operating in 41 jurisdictions.
Islamic banks can now offer investment accounts
Islamic banks in Malaysian are now able to offer investment accounts for their depositors under the Islamic Financial Services Act (IFSA) 2013 – which allows greater flexibility for Islamic banks to