Dr. Reza Baqir appointed Chairman General Assembly of IFSB

June 11, 2021

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The General Assembly of Islamic Financial Services Board (IFSB) has appointed Governor State Bank of Pakistan, Dr. Reza Baqir as its Chairman for the year 2022. His appointment was approved by the IFSB General Assembly in its 19th meeting held on 9th June 2021.

The SBP Governor expressed his gratitude on appointment as President of the General Assembly of the IFSB and showed the determination that the IFSB will continue to serve as one of the leading entities in Islamic financing at the global level.

He added that the standards developed by the IFSB will be they help to expand the regulatory and prudential framework for Islamic finance globally. Dr. Reza Baqir currently holds the position of Vice – Chairman of the IFSB, which is also the Chief Executive Officer of the IFSB. IFSB is a policy-making body composed of the leading regulatory and supervisory bodies for Islamic financing.

The IFSB General Assembly is the supreme representative body of its three categories of members “Full members”, “associate members” and “observer members”.

IFSB has 187 members on board, which includes 81 regulators and supervisors, 10 international intergovernmental organizations and 96 market players, including financial institutions, professional companies, industry associations and stock exchanges operating in 57 countries.