Kazakh National Bank joins Islamic Financial Services Board
ALMATY. February 23. KAZINFORM Kazakh National Bank joins as associated member the Islamic Financial Services Board (IFSB). The accession process has been fully completed, the Bank's press service reported.
The IFSB is an international standard-setting organization based in Kuala Lumpur. It promotes and enhances the soundness and stability of the Islamic financial services industry by issuing global prudential standards and guiding principles for the industry, broadly defined to include banking, capital markets and insurance sectors.
As of February 2012 the IFSB has 189 members, 53 of them are regulatory and oversight bodies, eight - international intergovernmental organizations and 128 - the major market players and professional firms and industry associations operating in 43 countries.
Membership in this prestigious organization will allow the National Bank to gain effective assistance of the participants in the implementation and regulation of the Islamic financial services in Kazakhstan.