Latest news with #23rdIslamicFinancialStabilityForum
Maroc
07-07-2025
- Business
- Maroc
Morocco Emerging as Regional Financial Hub
Morocco has positioned itself as a regional financial hub thanks to its strategic location between Africa and Europe, and plays a growing role in the development of Islamic finance, said Ghiath Shabsigh, Secretary-General of the Islamic Financial Services Board (IFSB). Speaking to MAP on the sidelines of the 23rd Islamic Financial Stability Forum, recently held in Rabat, Shabsigh praised the progress Morocco has made in regulatory frameworks and in translating Sharia principles into practical financial mechanisms. 'We are impressed by the regulatory strides and the structured dialogue on Sharia compliance,' he said. 'These efforts are part of a broader strategy led by Bank Al-Maghrib to foster a robust and sustainable financial system.' Islamic finance remains relatively new in Morocco but is expanding rapidly, he noted, supported by a legal framework covering banking, insurance, and capital markets. 'This regulation marks a major milestone in ensuring the safe and structured development of Islamic finance in the Kingdom,' Shabsigh added. He highlighted the country's potential to expand its presence in the global Islamic finance industry, pointing to initiatives such as the introduction of sovereign Sukuk as particularly significant. 'To build investor confidence and improve financing conditions, Morocco should focus on establishing a strong domestic Sukuk market in dirhams,' he said. 'This would pave the way for future issuances in foreign currencies.' Founded in 2003 and headquartered in Kuala Lumpur, the IFSB promotes the soundness and stability of the global Islamic financial services industry. MAP: 04 July 2025
Ya Biladi
05-07-2025
- Business
- Ya Biladi
Morocco emerges as key Islamic finance hub, says IFSB Secretary General
Morocco has established itself as a regional financial hub thanks to its strategic position between Africa and Europe, and it represents a key lever for the development of Islamic finance, said Ghiath Shabsigh, Secretary General of the Islamic Financial Services Board (IFSB). «We are impressed by the progress made, both in terms of regulatory frameworks and the facilitation of dialogue around Sharia-related issues, particularly how these principles are translated into practical operational mechanisms», Shabsigh told MAP in an interview on the sidelines of the 23rd Islamic Financial Stability Forum, recently held in Rabat. He emphasized that financial education is also a fundamental pillar for the growth of participatory finance, noting that these efforts are part of a strategic plan led by Bank Al-Maghrib to support the sector's expansion and build a robust, trustworthy, and sustainable financial system. While Islamic finance is relatively new in Morocco, Shabsigh observed that it is developing rapidly, as evidenced by key indicators—thanks in large part to the introduction of an adapted legal and regulatory framework. «This framework covers the banking, insurance, and capital markets sectors, marking a major step in supporting the growth of Islamic finance in the Kingdom», he explained, adding that such supervision ensures the safe, sound, and structured development of the sector. He also affirmed that, within this dynamic, Morocco has significant potential to strengthen its role in the Islamic finance industry, both regionally and internationally. «Morocco's initiatives to develop its capital markets are particularly noteworthy, especially the introduction of sovereign sukuk», he said. In this regard, he recommended building a strong foundation by establishing a dynamic and well-structured domestic sukuk market in dirhams. «Once this base is in place, issuing sukuk in foreign currencies becomes much more feasible, with better financing conditions and greater credibility among international investors», he concluded. Founded in 2003 and based in Kuala Lumpur, the IFSB is an international organization dedicated to promoting the soundness and stability of the Islamic financial services industry.
Ya Biladi
04-07-2025
- Business
- Ya Biladi
Morocco emerges as key Islamic finance hub, says IFSB Secretary General
Morocco has established itself as a regional financial hub thanks to its strategic position between Africa and Europe, and it represents a key lever for the development of Islamic finance, said Ghiath Shabsigh, Secretary General of the Islamic Financial Services Board (IFSB). «We are impressed by the progress made, both in terms of regulatory frameworks and the facilitation of dialogue around Sharia-related issues, particularly how these principles are translated into practical operational mechanisms», Shabsigh told MAP in an interview on the sidelines of the 23rd Islamic Financial Stability Forum, recently held in Rabat. He emphasized that financial education is also a fundamental pillar for the growth of participatory finance, noting that these efforts are part of a strategic plan led by Bank Al-Maghrib to support the sector's expansion and build a robust, trustworthy, and sustainable financial system. While Islamic finance is relatively new in Morocco, Shabsigh observed that it is developing rapidly, as evidenced by key indicators—thanks in large part to the introduction of an adapted legal and regulatory framework. «This framework covers the banking, insurance, and capital markets sectors, marking a major step in supporting the growth of Islamic finance in the Kingdom», he explained, adding that such supervision ensures the safe, sound, and structured development of the sector. He also affirmed that, within this dynamic, Morocco has significant potential to strengthen its role in the Islamic finance industry, both regionally and internationally. «Morocco's initiatives to develop its capital markets are particularly noteworthy, especially the introduction of sovereign sukuk», he said. In this regard, he recommended building a strong foundation by establishing a dynamic and well-structured domestic sukuk market in dirhams. «Once this base is in place, issuing sukuk in foreign currencies becomes much more feasible, with better financing conditions and greater credibility among international investors», he concluded. Founded in 2003 and based in Kuala Lumpur, the IFSB is an international organization dedicated to promoting the soundness and stability of the Islamic financial services industry.
Zawya
07-03-2025
- Business
- Zawya
Bank Al-Maghrib to host IFSB Annual Meetings and side events in Morocco
Kuala Lumpur, Malaysia – The Islamic Financial Services Board (IFSB) will hold its 2025 Annual Meetings, along with key industry side events. Hosted by Bank Al-Maghrib (Central Bank of Morocco), the 46th Council Meeting, 23rd General Assembly, and side events will take place from 1 to 3 July 2025 in Rabat, Morocco. IFSB's side events will engage IFSB members and other key players in Islamic finance, focusing on strengthening resilience and governance, addressing structural vulnerabilities, and facilitating the sharing of experiences. The programme includes: 23rd Islamic Financial Stability Forum, themed ' Fortifying Stability: Addressing Structural Vulnerabilities and Building Resilience in Islamic Finance ' Credit Rating Agencies Forum, themed ' Strengthening Transparency and Market Confidence: The Role of Credit Rating Agencies in Advancing Islamic Finance Markets ' Experience-sharing Sessions, featuring presentations from IFSB's members 2nd IFSB Consultative Group Meeting, featuring discussion on the ongoing work of the IFSB, emerging global regulatory priorities and areas of potential future standard-setting work of the IFSB Two (2) Industry Workshops, focusing on Liquidity Risk Management, Corporate Governance, and Shari'ah Governance Framework The IFSB 46th Council Meeting and 23rd General Assembly will be chaired by H.E. Abdellatif Jouahri, Governor of Bank Al-Maghrib and IFSB Chairman for 2025. These high-level meetings, bring together central bank governors, regulatory and supervisory agencies heads, international organisations, and industry leaders to discuss IFSB's strategic direction and ongoing works. The media is invited to attend and cover press conferences and side events. For enquiries, please contact the IFSB Secretariat at ifsb_sec@ and visit for more event and registration updates. About the Islamic Financial Services Board (IFSB) The IFSB is an international standard-setting organisation that promotes and enhances the soundness and stability of the Islamic financial services industry by issuing global prudential standards and guiding principles for the industry, broadly defined to include banking, capital markets and insurance sectors. The IFSB also conducts research and coordinates initiatives on industry-related issues, as well as organises roundtables, seminars and conferences for regulators and industry stakeholders. Towards this end, the IFSB works closely with relevant international, regional and national organisations, research/educational institutions and market players. The members of the IFSB comprise regulatory and supervisory authorities, international inter-governmental organisations and market players, professional firms and industry associations. For more information about the IFSB, please visit
