The Islamic Financial Services Board (IFSB), an international standard-setting organisation for the global Islamic financial services industry, has appointed Dr Ghiath Shabsigh as its fourth Secretary-General, effective April 1, 2024. Dr Shabsigh succeeds Dr Bello Lawal Danbatta, whose tenure concluded on 28th January 2024.
Prior to his appointment, Dr Shabsigh served as Assistant Director at the International Monetary Fund (IMF)’s Monetary and Capital Markets Department where he played a pivotal role in driving IMF’s central banking and fintech initiatives.
His career includes 25 years of experience in Islamic finance, where he has been instrumental in shaping international institutions, formulating policies and standards, conducting analytical work, and providing technical assistance in Islamic banking regulatory frameworks, central banking operations, and sukuk markets for IMF member countries.
Dr Shabsigh holds a PhD in Monetary and International Economics, an MA in Economic Development, a BSc. in Economics and Business, and several professional qualifications in banking and securities market operations.
Council endorsement
His appointment was endorsed by the Council of the IFSB at its 43rd meeting in Jeddah, Saudi Arabia in December 2023. During this transitional period, Suhail Issa Al Zadjali has been appointed as the Acting Secretary-General.
Under the guidance of Dr Shabsigh, the IFSB will continue to solidify its role as a pivotal standard-setting body. It remains resolute in its dedication to strengthening the Islamic finance sector and advancing its initiatives, in line with the shifting needs and aspirations of its members.
IFSB recently celebrated its 20-year mark and has a global membership base of 191 entities spanning 58 jurisdictions as of December 2023. This includes the Islamic Development Bank, the Asian Development Bank, the Bank for International Settlements, the International Monetary Fund, the World Bank, and the West African Development Bank.--TradeArabia News Service
