IFSB admits five more organisations into its membership
Source: Middle East Insurance Review | Jan 2020
The Council of the Islamic Financial Services Board (IFSB) approved the admission of five organisations into its membership during the council’s 35th meeting in Dhaka, Bangladesh in December.
The five organisations include one international inter-governmental organisation and four market players as observer members.
The newly admitted members are: United Nations Development Programme (UNDP); Dubai Islamic Economy Development Centre (DIEDC), UAE; Jaiz Bank Plc, Nigeria; PT Bank BNI Syariah, Indonesia; and Sarmad Insurance, Iran.
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. M