Dhaka, Bangladesh - The Council of the Islamic Financial Services Board (IFSB) today resolved to appoint its Chairperson and Deputy Chairperson for the year 2020. H.E. Nor Shamsiah Mohd Yunus, Governor of Bank Negara Malaysia will take over the Chairpersonship of the IFSB, while H.E. Mubarak Rashed Khamis Al Mansoori, Governor of Central Bank of the United Arab Emirates will be the Deputy Chairperson. H.E. Nor Shamsiah Mohd Yunus will take over the chairpersonship of the IFSB from H.E Fazle Kabir, the Governor of the Bangladesh Bank. The new appointments will take effect on 1 January 2020.
Brief profiles of the newly appointed Chairperson and Deputy Chairperson are as follows:
H.E. Nor Shamsiah Mohd Yunus is the 9th Governor of Bank Negara Malaysia, assuming office on 1 July 2018. She chairs Bank Negara Malaysia’s Monetary Policy Committee, the Financial Stability Committee and the Financial Stability Executive Committee.
Prior to her appointment as Governor, Her Excellency served as Assistant Director of the Monetary and Capital Markets Division of the International Monetary Fund.
H.E. Nor Shamsiah joined Bank Negara Malaysia in 1987 and has served in various areas including prudential regulations, legislation, policies and guidelines for the financial sector and supervision. Her Excellency was involved in the financial sector resolution initiatives during the Asian financial crisis. She was instrumental in the formulation and implementation of the Financial Sector Masterplan (2001-2010) and Financial Sector Blueprint (2011-2020) that charted the development of the Malaysian financial system.
As Deputy Governor from 2010 to 2016, Her Excellency was responsible for banking, insurance and takaful supervision, financial intelligence and enforcement, talent management, finance and shared services of the central bank. She also represented Bank Negara Malaysia in the Basel Committee on Banking Supervision and the Financial Action Task Force.
H.E. Nor Shamsiah graduated from the University of South Australia with a Bachelor of Arts in Accountancy and is a Certified Practising Accountant (CPA).
H.E. Mubarak Rashed Khamis Al Mansoori has been appointed the Governor of Central Bank of the UAE as of 22 September 2014. He has been the Chief Executive Officer of Emirates Investment Authority since May 2008, and a Board Member in Etisalat, Abu Dhabi Securities Exchange (ADX), Mobily in KSA, and Abu Dhabi National Co. for Building Materials (BILDCO).
He started his career at ADIA from 1991 – 2000 in the Equities Department, then he served as the Director General of Abu Dhabi Retirement Pensions & Benefits Fund since its establishment back in 2000. He had also held directorship in a number of organisations including the Central Bank of United Arab Emirates, Securities & Commodities Authority of UAE (SCA), Etisalat Misr in Egypt, The Arab International Bank (AIB) in Egypt, Arab Banking Corporation (ABC) in Bahrain, Egypt and Jordan, Banco Atlantico in Spain, Tabreed and Abu Dhabi Holding Company.
H.E Mubarak Rashed Khamis Al Mansoori holds a Bachelor degree in Finance and a Master in Business Administration.
The 35th meeting of the IFSB Council, hosted by the Bangladesh Bank (BB), was held on 11 December 2019 in Dhaka, Bangladesh. The Council Meeting was chaired by H.E. Fazle Kabir, the Governor of Bangladesh Bank and Chairman of the IFSB for 2019, attended by the Central Bank Governors, Deputy Governors, Heads of regulatory and supervisory authorities, senior representatives from among the Council and Full members of the IFSB, representing 18 countries.
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About the Islamic Financial Services Board (IFSB)
The IFSB is an international standard-setting organisation that promotes and enhances the soundness and stability of the Islamic financial services industry by issuing global prudential standards and guiding principles for the industry, broadly defined to include banking, capital markets and insurance sectors. The IFSB also conducts research and coordinates initiatives on industry-related issues, as well as organises roundtables, seminars and conferences for regulators and industry stakeholders. Towards this end, the IFSB works closely with relevant international, regional and national organisations, research/educational institutions and market players.
The members of the IFSB comprise regulatory and supervisory authorities, international inter-governmental organisations and market players, professional firms and industry associations.
For more information about the IFSB, please visit www.ifsb.org
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