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IFSB names 3 Gulf organisations as members

KUALA LUMPUR, December 11, 2017

The Council of the Islamic Financial Services Board (IFSB) has given membership to eight organisations from across the globe including two from the UAE (Abu Dhabi Global Market and Tiybr Payments) and one from Saudi Arabia - Capital Market Authority.

The list include five supervisory authorities as Full and Associate Members, one international inter-governmental organisation and two market players as Observer Members.

The newly admitted members are:
Full Member
*Capital Market Authority, Saudi Arabia
*Astana Financial Services Authority (AFSA), Kazakhstan
Associate Member
*The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin), Germany
*Bank of Uganda
*Abu Dhabi Global Market (ADGM) – Financial Services Regulatory Authority, United Arab Emirates
Observer Member
*West African Development Bank (Banque Ouest Africaine de Développement - BOAD), West Africa Monetary Union
*United Insurance, Sudan
*Tiybr Payments, United Arab Emirates
The membership of the IFSB is divided into three categories, namely Full Member, Associate Member and Observer Member.

The Full Membership, which is the sole membership with voting rights, is available to the financial sector supervisory authorities of each sovereign country.
To date, the 185 members of the IFSB consist of 75 supervisory and regulatory authorities from the banking, capital markets and Islamic insurance (takaful) sectors from 57 jurisdictions, as well as eight international inter-governmental organisations, and 102 market players (financial institutions, professional firms, industry associations and stock exchanges).-TradeArabia News Service

Tags: Gulf | GCC | Islamic Financial Services Board | IFSB |

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