IFSB, AMF sign MoU to boost Islamic finance in Arab region

Kuala Lumpur—The Islamic Financial Services Board (IFSB), represented by Jaseem Ahmed, Secretary-General and the Arab Monetary Fund, represented by HE Dr. Abdulrahman A. Al Hamidy, Director General Chairman of the Board signed in Kuala Lumpur a Memorandum of Understanding (MoU) for an initial period of three years, to establish and implement a non-exclusive framework for the cooperation and collaboration to promote programmes and initiatives that foster the development of the Islamic finance sector in the Arab region. The IFSB Assistant Secretary-General, Zahid ur Rehman Khokher has also attended the signing ceremony.
On this occasion, Dr. Abdulrahman A. Al Hamidy stressed the importance of the MoU in increasing capacity-building, promoting knowledge-sharing and supporting greater sustainable access to finance across AMF members’ countries, “Providing assistance to the development of the Islamic finance industry and supporting capacity development in the region has always been among our top priorities, and we look forward to pursuing and intensifying this effort to better tackle the needs of Arab region to building up innovative, robust and competitive financial systems at both domestic and regional levels. Our ongoing cooperation with the IFSB has always been successful and we are glad that today it’s being reinforced and strengthened.”—Agencies

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