Latest news with #IslamicFinancialServicesBoard
Zawya
30-07-2025
- Business
- Zawya
Central Bank of Oman to host the 17th IFSB Summit in Muscat, February 2026
KUALA LUMPUR/MUSCAT – The Islamic Financial Services Board (IFSB) is pleased to announce that the 17th IFSB Summit will be hosted by the Central Bank of Oman (CBO) from 2nd to 4th February 2026 in Muscat, Sultanate of Oman. Under the theme ' Islamic Finance for the Future: Breaking New Ground for Global Impact', the summit brings together central banks, financial regulatory authorities, international organisations and industry leaders to explore the evolving importance of Islamic finance in shaping a stable and ethical global financial system. Discussions will focus on critical areas of Islamic finance, including navigating disruptions, strengthening the non-bank financial sector, enhancing the Sukuk market, and addressing financial inclusion, social impact and climate action. IFSB Secretary-General, Dr Ghiath Shabsigh shares the significance of the summit, 'The IFSB Summit continues to serve as a strategic forum for exchanging ideas on emerging developments in Islamic finance and advancing its global mainstream adoption. It reflects our commitment to the soundness and stability of the industry by convening regulatory and supervisory authorities, international bodies, and market participants to discuss pertinent industry matters. Aligned with the theme 'Islamic Finance for the Future: Breaking New Ground for Impact', we look forward to working with the Central Bank of Oman to bring the 17th IFSB Summit to Oman in 2026 – unlocking the growth and development opportunities of the industry together.' H.E. Ahmed Al Musalmi, Governor of the Central Bank of Oman, noted, 'We look forward to hosting the IFSB Summit in Muscat next year. We view this gathering as a strategic inflection point—a catalyst to deepen our understanding of the shifting global economic landscape. This summit offers a unique opportunity to foster visionary dialogue, spark innovative collaborations, and reinforce the resilience of the Islamic financial industry amid ongoing uncertainties. Our sector has consistently demonstrated its robustness and adaptability, and this occasion will serve to chart a sustainable and inclusive growth trajectory. We are confident that the insights generated will not only strengthen our industry's foundations but also elevate its role as a key driver of economic stability and development in the years ahead.' Extending the exposure on Islamic finance, the pre-summit day on February 2nd will be open to the public. It will introduce key industry discussions including a CEO's Forum and dedicated roundtables with non-governmental organisations and youth. Attendees can also explore curated exhibitions from Islamic financial industry players and a showcase of Oman's rich heritage and culture. The IFSB invites financial sector stakeholders, regulators, and industry leaders to participate in shaping the future of Islamic finance. Details on registration for delegations, agenda, and speakers will be made available on the IFSB website, About the Islamic Financial Services Board (IFSB) The Islamic Financial Services Board (IFSB) is an international organisation committed to promoting the soundness and stability of the Islamic financial services industry (IFSI) by developing international standards for the regulation and supervision of the IFSI, supporting the adoption and consistent implementation of standards and sound industry development through capacity building and technical assistance, and monitoring financial stability and identifying current and emerging risks to the IFSI. Established in 2003 and headquartered in Kuala Lumpur, Malaysia, the IFSB works closely with other international organisations, regulatory and supervisory authorities, and regional partners, aligning its efforts with global standards towards the sustainable growth and development of Islamic finance, and serves as a platform for cooperation and knowledge sharing among its members. For more information about the IFSB, please visit
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.
TimesLIVE
04-07-2025
- Business
- TimesLIVE
Morocco to resume sukuk issuance, says central bank governor
Morocco is preparing its second Islamic bond, or sukuk, issuance since 2018, Central Bank governor Abdellatif Jouahri said on Thursday. The central bank and the ministry of finance are reviewing the technical aspects of the issuance, Jouahri told reporters without offering details on the amount of the bond. The Higher Council of Ulema, Morocco's top religious authority, will assess whether the issuance complies with sharia, he said on the sidelines of the annual meeting of the Islamic Financial Services Board (IFSB), a Malaysia-based international standards-setting body that promotes Islamic finance. Morocco's first sukuk issuance in 2018 raised 1-billion dirhams (R1.95bn) and matured in 2023. The country permitted Islamic finance, locally known as participatory banking, in 2017 as part of a wider plan to bolster financial market liquidity and attract foreign investment.
