The Council of the Islamic Financial Services Board (IFSB) has approved the admission of six organisations into the its membership.

It includes one supervisory authority as a full member, another supervisory authority as an associate member as well as three financial institutions and one professional firm as observer members.
 
The 26th meeting of the IFSB Council, hosted by Bank Indonesia, was held yesterday (April 2) in Jakarta, Indonesia.

Chaired by the governor of Bank Indonesia Agus D W Martowardojo, it was attended by seven central bank governors and heads of regulatory and supervisory authorities, as well as 13 senior representatives from among the council and full members of the IFSB, representing 17 countries.
 
The newly admitted members include Securities and Exchange Commission, Nigeria (full member); Banco de Mocambique, Mozambique (associate member); and Gulf International Bank, Bahrain, First Community Bank, Kenya, Tamweel Africa Bank, Senegal, and Islamic Finance Council, UK (observer members).
 
The full membership, which is the sole membership with voting rights, is available to the financial sector supervisory authorities of each sovereign country, said a statement. - TradeArabia News Service