High-ranking delegation of DAB attended IFSB Annual Meeting

Wed, Jul 03 2024 2:47 PM
High-ranking delegation of DAB attended IFSB Annual Meeting

July 3, 2024 – The acting governor of Da Afghanistan Bank (DAB), Hedayatullah Badri and the delegation accompanying him attended the 22nd annual meeting of the Islamic Financial Services Board (IFSB), held in the Republic of Djibouti on 1st and 2nd July, 2024.

The meeting was attended by governors and representatives of 26 central banks of other Islamic member countries. The member countries discussed and approved reports pertaining to the previous year's activities and financial issues.

Furthermore, the IFSB member countries discussed plans and practical measures for the upcoming year regarding Islamic banking standards, sound management of financial institutions and banks, the role of digitalization in Islamic banking, and the promotion of Islamic finance and banking at the international level.

To contribute to the development of a stable economy, the member countries and the attendees discussed financial inclusion, the significance of Waqf and Zakat in the Islamic Financial system, establishing of relevant institutions, the effective use of digitalization of the financial system, the importance of creating job opportunities, the potential threats to the financial technologies and developing Shariah compliant regulations and principles and other related matters.

In an exclusive meeting with the head of the IFSB, the Acting Governor of Da Afghanistan discussed DAB’s frozen foreign exchange reserves, conversion of the banking sector into Islamic banking, capacity building programs, and other related issues.

It is worth noting that the members of the IFSB consist of Da Afghanistan Bank, central banks of Islamic countries, Islamic banks, and international institutions.

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