Pakistan State bank governor Dr. Reza Baqir was appointed chairman of the Council of Islamic Financial Services Board (IFSB), Malaysia, for the year 2022 in a ceremony held in Abu Dhabi on Thursday.
According to an official handout issued by the State Bank of Pakistan (SBP) on Friday, Baqir took over the position from his counterpart in the United Arab Emirates and thanked him for leading the council “in an excellent manner.”
The 188-member IFSB is counted among the main standard-setting bodies for Islamic finance around the world.
Established in 2003 in Kuala Lumpur, Malaysia, it has so far issued 24 standards, seven guidance notes and three technical notes for the Islamic financial services industry.
“Speaking on the occasion, Governor SBP said that he felt deeply honored to assume the Chairmanship of the Council of IFSB,” said the official statement. “He thanked his fellow Council members for placing their trust in him. He also expressed his sincere gratitude to Mr. Khaled Mohamed Balama Al Tameemi – Governor Central Bank of UAE for leading the Council for the year 2021 in an excellent manner.”