IIFM plans to develop new standards relating to Islamic syndication and liquidity management

IIFM plans to develop new standards relating to Islamic syndication and liquidity management

Manama, Kingdom of Bahrain – The Board of Directors of the International Islamic Financial Market (IIFM) held its forty-sixth (46th) meeting (virtually) to discuss the Islamic finance standard-setting body’s new standardization and industry development initiatives.

The meeting was opened by Mr. Ijlal Ahmed Alvi (Chief Executive Officer and Secretary to the Board of IIFM) by welcoming all the participating Board members. The Vice Chairman of IIFM, Mr. Nik Mohamed Din Bin Nik Musa (Labuan Financial Services Authority, Malaysia) chaired the meeting where participants were Mr. Arief Hartawan (Bank Indonesia), Dr. Mansur Noibi (Islamic Development Bank), Mr. Shukri Ahmad (Brunei Darussalam Central Bank), Mr. Abubaker Mohamed (Central Bank of Sudan), Mr. Hammad Hassan (Bank ABC Islamic), Mr. Hamza Khalid Bawazir (Saudi National Bank), Mr. Ahsan Ali (Standard Chartered Saadiq), Mr. Rami Falah (BNP Paribas), Mr. Salah Sharif (GFH Financial Group) and Mr. Kamal Abdelkarim Hassan (Kuwait Finance House-Bahrain). From IIFM Management and Secretariat, Dr. Ahmed Rufai (Head of Compliance/Shari‘ah, IIFM) also participated in the meeting.

The Board of Directors welcomed Mr. Arief Hartawan, Head of Islamic Economics and Finance Department at Bank Indonesia as the new Director representing Bank Indonesia on IIFM Board. The Board of Directors also welcomed BNP Paribas to the