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Bahrain takes IFSB chair for the second time.

The Council of the Islamic Financial Services Board (IFSB) has appointed the Governor of the Central Bank of Bahrain (CBB), HE Rashid Mohammed Al Maraj as Chairman, effective January 2012. This is the second time the IFSB chair is with Bahrain. The Governor of the Qatar Central Bank, HE Sheikh Abdullah Saoud Al-Thani, will be Deputy Chairman for 2012. The Chairmanship of the IFSB Council is on an annual rotational basis. From 2003 to 2010, the rotation was amongst the Founding Members of the IFSB who signed the Articles of Agreement when the IFSB was established in November 2002. Thereafter, the Chairmanship alternates between Founding and Non-Founding Members within the IFSB Council. The nine founding members of the IFSB are Bahrain Monetary Authority (now the Central Bank of Bahrain), Bank Indonesia, Central Bank of the Islamic Republic of Iran, Central Bank of Kuwait, Bank Negara Malaysia, State Bank of Pakistan, Saudi Arabian Monetary Agency, Bank of Sudan (now the Central Bank of Sudan) and the Islamic Development Bank.

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Publication:Islamic Business & Finance
Geographic Code:7BAHR
Date:Dec 14, 2011
Words:182
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