Islamic Financial Services Board (IFSB) - H.E. Hamad Al Sayari assumes Chairmanship of the Council of the IFSB for 2009

Hamad Al Sayari, Governor of SAMA is IFSB Chairperson for 2009Store this angel in big sizeKuala Lumpur, January 28, 2009 – H.E. Hamad Al Sayari, Governor of the Saudi Arabian Monetary Agency (SAMA), affected Chairmanship of the Council and General Assembly of the Islamic Financial Services Board (IFSB) for the appellation 1st January – 31st December 2009. H.E. Dr. Sabir Mohamed Hassan, Governor of the Central Bank of Sudan affected the Deputy Chairmanship for the aforementioned period.
Chairmanship of the IFSB is on an anniversary rotational base from a allotment of the Full associates as defined in the IFSB Articles of Agreement.

Mr. Al Sayari is the 7th Chairman of the Council and General Assembly of the IFSB and the Saudi Arabian Monetary Agency will host the IFSB Annual Meetings on 31st March 2009.

Mr. Al Sayari has been the Chairman, Board of Directors and the Governor of SAMA back 1983. He has afresh been ranked 17 a allotment of 50 of the a lot of affecting humans in the banking association common by Institutional Investor magazine, which describes Al Sayari, citation his 27 year career in allegation of budgetary policy, as "a bedrock aloft which Saudi Arabia's oil-based abridgement has been built." Prior to his abutting SAMA in 1980, he was the Director General of the Saudi Industrial Development Fund and has aswell served as the Secretary General of the Public Investment Fund. He is currently a affiliate of the Supreme Economic Council, as able-bodied as a Board Member of the Public Investment Fund. Mr. Al Sayari holds a M.A. (Economics) from the University of Maryland, USA

Dr. Sabir Mohammed Hassan, Governor of the Central Bank of Sudan is the Deputy Chairperson.

Dr. Sabir has been Governor of the Central Bank of Sudan back 1998. He was ahead in the aforementioned position in 1993 to 1996, afore abrogation to serve the Government of Sudan as a State Minister for the Ministry of Finance and National Economy for one term. He served as Adviser to the Executive Director of the International Monetary Fund during the aeon 1983 to 1990. Dr. Sabir accustomed his Ph.D. in Economics, Trade and Development Financing from Syracuse University, USA in 1982. He has appear analysis on altered bread-and-butter and cyberbanking subjects.

The Islamic Financial Services Board (IFSB), which is based in Kuala Lumpur, was clearly inaugurated on 3rd November 2002 and started operations on 10th March 2003. It serves as an all-embracing standard-setting anatomy of authoritative and authoritative agencies that accept vested absorption in ensuring the acumen and adherence of the Islamic banking casework industry, which is authentic broadly to cover banking, basic bazaar and insurance. In advancing this mission, the IFSB promotes the development of a advisable and cellophane Islamic banking casework industry through introducing new, or adapting absolute all-embracing standards connected with Shari'ah principles, and acclaim them for adoption.

To this end, the plan of the IFSB complements that of the Basel Committee on Banking Supervision, International Organisation of Securities Commissions and the International Association of Insurance Supervisors.

For added advice about the IFSB, amuse appointment www.ifsb.org

Siham Ismail
Islamic Financial Services Board
Malaysia
Email: siham@ifsb.org
Tel: + 603 2698 4248 ext.119